Google enters cross-border payments market
Google has reportedly suspended business with Huawei that requires the transfer of hardware and software products except those covered by open source licenses. Photo: EPA-EFE. Sketched by the Pan Pacific Agency.
NEW DELHI, May 12, 2021, The Hindu. The California-based company has partnered with Western Union and Wise for the integration, and plans to expand the feature to more than 200 countries and territories through Western Union, The Hindu reported.
Google Pay users in the U.S. can now send money to users in India and Singapore, a move that marks its entry into cross-border payments market.
The California-based company has partnered with Western Union and Wise for the integration, and plans to expand the feature to more than 200 countries and territories through Western Union, and to over 80 countries through Wise, by the end of the year.
To send money to India or Singapore, users need to search for the Google Pay user they want to transfer money to and tap on “Pay”. They then need to select the payment provider, Western Union or Wise and simply follow steps to complete the payment.
As part of the partnership, Google said in a blog post that until June 16 Western Union will offer unlimited free transfers, and that Wise will make the first transfer free for new customers on transfers up to $500.
While U.S. users can transfer money to the two countries, Google did not mention whether the users in India and Singapore can send money to the U.S. The feature comes at a time when the second wave of COVID-19 is ravaging India.
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