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Google Pay is Now Bringing Cross-Border Transactions May 11, 2021 09:34 EDT
Google Pay has decided to open up cross-border transactions for the first time, and this will help Google move into the remittance market and make things easier for everyone. According to a report from TechCrunch, Google will initially offer user-to-user payments between the U.S., India, and Singapore. This means that Google Pay users in the States will be able to transfer money to the users in India and Singapore. However, at the moment, the transactions will not be able to work in reverse. This means that users in Singapore and India will not make international transfers to the users in the U.S.
Alphabet Inc s Google has launched international money transfer partnerships with remittances firms Wise and Western Union Co for users of its U.S. payments app, the companies said on Tuesday.
Google Pay users in the United States can now transfer money to app customers in India and Singapore, with plans to expand to the 80 countries available via Wise, and 200 via Western Union by the end of the year. Google s foray in the $470 billion remittance market, marks a further step by the technology company to expand its financial services offering, ramping up competition in the digital payments sector. London-based Wise was launched in 2011 with the aim of making international money transfers cheaper and easier, while Western Union remains a market leader in remittances, with a sprawling global network of physical locations.
Google Pay allows international money transfers from US to Singapore, India
Google Pay allows international money transfers from US to Singapore, India
By:Abhishek Malhotra, The Mobile Indian, New Delhi
Last updated : May 11, 2021 7:56 pm
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Google Pay is now going to allow transactions from users based in the US to Singapore and India. It is allowing international money transfers in partnership with established remittances companies Wise and Western Union.
Google expects that U.S. Google Pay users will be able to send money to people in more than 200 countries and territories through Western Union and to more than 80 countries through Wise by the end of this year.
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LONDON (Reuters) - Alphabet Inc s Google has launched international money transfer partnerships with remittances firms Wise and Western Union Co for users of its U.S. payments app, the companies said on Tuesday.
Google Pay users in the United States can now transfer money to app customers in India and Singapore, with plans to expand to the 80 countries available via Wise, and 200 via Western Union by the end of the year.
Google s foray in the $470 billion remittance market, marks a further step by the technology company to expand its financial services offering, ramping up competition in the digital payments sector.