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.
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.
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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
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