Google 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.
- 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.
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Co-Founder & Chairman – Taavet Hinrikus
Co-Founder & CEO – Kristo Käärmann
Headquarters – London, UK
About Western Union
CEO – Hikmet Ersek
Headquarters – Denver, Colorado, US
Headquarters– California, United States
CEO – Sundar Pichai