Current Affairs PDF

Google Pay launches International Money Transfers for US users

AffairsCloud YouTube Channel - Click Here

AffairsCloud APP Click Here

Google Pay launches international money transfers with WiseGoogle Pay has launched International Money Transfers for its United States (US) users, it has launched the initiative in partnership with remittance firms – Wise, and Western Union Co.

  • Using this feature, Google Pay users in the US can transfer money to Google Pay users in India & Singapore.
  • Google is planning to expand the feature to around 80 countries through Wise, and around 200 countries through Western Union by the end of 2021.

Key Points

  • The global remittances market is valued at around USD 470 Billion.
  • Google Pay has 150 million users in 40 countries, and this initiative is seen as a step to expand its financial services offering, and increase competition in the digital payments sector.
  • Wise is a London-based company which aims to make International money transfers cheaper and easier. The Western Union is the leader in global remittances.

Recent Related News:

i.April 21, 2021, Sujith Narayanan and Sumit Gwalani , co-creators of Google Pay have announced the launch of Fi,a NeoBank for salaried millennials in partnership with Federal Bank.

About Wise

Co-Founder & Chairman – Taavet Hinrikus
Co-Founder & CEO – Kristo Käärmann
Headquarters – London, UK

About Western Union

CEO – Hikmet Ersek
Headquarters – Denver, Colorado, US

About Google

Headquarters– California, United States
CEO – Sundar Pichai