Google Pay or GPay has transformed the way money is transferred. Gpay is quite popular in India and a lot of users are dependent on Gpay for their day-to-day banking transactions. Gpay keep launching new updates for its users. In a recent update, it announced that Indian Gpay users will not be able to receive money from Gpay US users. Good news, yeah? No more dependency on Paypal or other money overseas money transfer services.
If you are a Gpay user in India or Singapore you can easily receive money from US users. The feature doesn’t work the other way round. You can not send money to US Gpay users. The company has tied up with Western Union and Wise for money transfers from US to India and Singapore. Sources says that Western Union will support money transfer in 200 countries and Wise in around 80 countries.
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When a US user intends to send money to Indian GPay user then he will be able to see how much money will the user receive. He can also choose out of Western Union and Wise. The app will also show the amount of transfer fee for each transaction.
In a survey, it came out that India was the largest receiver in the year 2019 alone. India received around $80 billion in remittances. Google saw it as an opportunity and came up with this idea.
The good news is that if you choose Western Union then you will be able to make unlimited free transfers till June 16 ( chargeable after that). For Wise, the first transaction will be free if the amount is up to 500$.
“The pandemic continues to have a devastating impact on communities, customers, and colleagues in many parts of Asia, especially in India and Latin America. This convenient channel will help people continue supporting one another in these trying times as they reimagine how they can pay and move money worldwide,” told Shelly Swanback, President of Western Union Product and Platform, in a statement.
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So, now you don’t have to be dependent only on Paypal if you receive money from your US clients. Google Pay will make things easier for you. We will keep bringing more such tech news. Stay connected to TechAdvises for more interesting Tech news and updates from around the world.This was Deepak Kumar here. You can connect with me on LinkedIn.
