Google Pay will now let customers within the US to ship cash to their buddies and households in India and Singapore. This formally marks the tech large’s entry into the remittance companies market. Google has partnered with Western Union and Wise to allow the brand new service by way of the Google Pay app. Although international transfers by way of Google Pay are initially restricted to India and Singapore, the tech large has plans to develop the service to about 280 nations globally later this yr. Google Pay could possibly appeal to a lot of migrants within the US with the newest replace.

Google said in a weblog put up that Western Union will supply limitless free transfers when sending cash with Google Pay till June 16. Wise, however, will supply the primary switch free for brand new prospects on transfers as much as $500 (roughly Rs. 36,700). However, Google has not but declared the precise switch payment that the service suppliers will cost after their preliminary free choices.

It is vital to level out that international transfers by way of Google Pay are restricted to particular person customers. This implies that the app doesn’t permit you to ship cash from the US to any companies in India or Singapore. Users in India are additionally not supplied with the characteristic to ship cash to the US via the Google Pay app.

How to ship cash on Google Pay from the US to India or Singapore

To ship cash via Google Pay, seek for the Google Pay consumer who you need to ship cash to, faucet the Pay button, after which choose both Western Union or Wise. After that, faucet Continue to see the precise quantity that the recipient will obtain. Tap Continue and select the way you need the recipient to obtain the cash — via UPI or by way of money pickup.

By the tip of the yr, Google plans to develop the international cash switch service by way of the Google Pay app to greater than 200 nations and territories via Western Union and to greater than 80 nations via Wise.

Foreign remittances are rising quickly with the expansion of migrants in developed nations throughout the globe. India is among the largest abroad remittance receiver, although remittances to the nation had been projected to drop by 9 % to $76 billion (roughly Rs. 5,58,100 crores) in 2020 owing to the coronavirus pandemic and a worldwide financial slowdown, according to the World Bank.