Google Pay users in the U.S. can now send money to GPay users in India and Singapore. Google has partnered with cross-border payments firms Western Union and Wise to enable such transactions. Both of these services have integrated their services into Google Pay in the US. This feature is not yet available the other way around. However, Google intends to expand this service worldwide by the end of this year.
Send Money to India, Singapore from US Using GPay
When Google Pay users in the U.S. send money to someone in India or Singapore, they will know the converted currency amount within the app. Here’s how GPay users in the US can send money to someone in India or Singapore:
1. Open GPay on your phone and select the contact to whom you want to transfer money.
2. After that, users can choose the payments provider from Wise or Western Union.
3. The app will show how much money the receiver will get and also how long it would take to receive the money.
4. Tap on the Pay button and your money transfer will be successful.
As mentioned, this feature currently allows GPay users in the US to send money to users in India and Singapore and it does not work the other way which means users in India cannot send money to someone in the US. Google said that it picked India and Singapore because of these countries are very crucial in the remittances world.
You should also note that the cross-border payments is currently only available for person-to-person payments and businesses can’t send money to individuals or businesses.
Will there be any charges for this transfer?
Google will not levy any additional charge to customers for this money transfer. Also, Westorn Union will offer unlimited free transfers when sending money with Google Pay until June 16. Wise will also offer the first transfer free for new customers on up to $500 amount and after that it will charge the actual foreign exchange rate and transfer fees and it will vary from country to country.
According to data shared by the World Bank, India was the largest remittances receiving country in 2019 and it received more than 80 billion USD in that year and the US, on the other hand is the largest sender. Google also plans to enable cross-border payments worldwide.