Can I Send Money From India Through Western Union – Google plans to expand overseas transfers to more than 200 countries and regions through Western Union and more than 80 countries through Wise by the end of the year.
Google Pay now lets US users send money to friends and family in India and Singapore. This officially marks the technology giant’s entry into the remittance services market. Google has partnered with Western Union and Wise to launch the new service through the Google Pay app. While international transfers via Google Pay will initially be limited to India and Singapore, the tech giant plans to expand the service to around 280 countries worldwide later this year. Google Pay may attract large numbers of immigrants to the US with its latest update.
Can I Send Money From India Through Western Union
Google said in a blog post that Western Union will offer unlimited free transfers when sending money with Google Pay until June 16. Wise, on the other hand, offers the first transfer free to new customers for transfers of up to $500 (approx. Rs. 36). , 700). However, Google has not yet announced the exact transfer fee that service providers will charge after their initial free offers.
Western Union — Sanjay Dhokia
It is important to note that international transfers via Google Pay are limited to individual users. This means that the app will not allow you to send money from the US to companies in India or Singapore. Also, there is no functionality for Indian users to send money to the US through Google Pay.
To send money via Google Pay, find the Google Pay user you want to send money to, tap the Pay button, then choose Western Union or Wise. After that, tap Continue to see the exact amount the recipient will receive. Tap Continue and choose how you want the recipient to receive the money – through UPI or through cash withdrawal.
By the end of the year, Google plans to expand the foreign money transfer service through the Google Pay application to more than 200 countries and regions through Western Union and to more than 80 countries through Wise.
Foreign remittances are growing rapidly as immigrants increase in developed countries around the world. India is one of the largest recipients of foreign remittances, although remittances to the country were projected to fall by nine percent to $76 billion (about Rs 5,58,100 crore) in 2020 due to the coronavirus pandemic and the global economic decline To the World Bank.
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For the latest tech news and reviews, follow Gadgets 360 on Twitter, Facebook and Google News. Subscribe to our YouTube channel for the latest videos on gadgets and technology. Google Pay users in the US can now send money to GPay users in India and Singapore, Google said on Tuesday, making its first entry into the remittance market.
The company has partnered with Western Union and Wise, both of which have integrated their services with Google Pay. Josh Woodward, Google’s director of product management, said in an interview that the company will launch cross-border payments with India and Singapore and plans to expand it globally by the end of the year.
“As we do with many Google products, we test, learn and iterate and then start scaling,” he said.
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As part of the partnership, Western Union will enable cross-border payments on Google Pay in more than 200 countries, while Wise, formerly known as TransferWise, will expand support to more than 80 countries.
When Google Pay users in the US try to send money to someone in India or Singapore, they are notified of the exact amount the recipient has received. In the Google Pay app, users can also choose which payment provider – Wise or Western Union – they want to use and how long it takes for the recipient to receive the money.
The send feature currently only allows US users of Google Pay to send money to users in India and Singapore – not the other way around. Woodward said the company chose India and Singapore in part because they are important in the world of remittances.
India was the largest recipient of remittances in 2019, receiving more than $80 billion annually, according to the World Bank. The United States, on the other hand, is the largest sender. Finally, Google plans to enable cross-border transfers worldwide.
International Money Transfer
Also worth noting: Cross-border payments are only available for personal payments. (For example, GPay companies in the US cannot send money to individuals or businesses in India.)
The partnership with Google will help Wise and Western Union expand their presence in multiple markets and compete more aggressively with rivals like PayPal, which has a wider reach (but is struggling to penetrate India). Wise and Western Union bear responsibility and risk.
Nearly 250 million people around the world send more than $500 billion in money across borders each year, Citi said last month. But the space is ripe for disruption. “The fees are very high. It’s a shame we haven’t solved this problem yet,” Citi analysts wrote. Globally, the average cost of sending money is around 6.5%.
Western Union said in a statement that recipients pay nothing and receive the exact value in their local currency that the user in the United States has chosen. Wise said it took into account the actual exchange rate and additional transfer fees that are prudent in the country. down. (“The easiest way to find out how much it costs is to find a friend on Google Pay, select Wise as your partner, tap Pay, and enter the amount you want to transfer,” it said.)
Direct To Bank Account
In both cases, Google does not charge additional fees to customers. Additionally, until June 16, Western Union is offering unlimited free transfers when you send money with Google Pay, and Wise is giving new customers a free first transfer for transfers of $500.
“The pandemic continues to have a devastating impact on communities, customers and colleagues in many parts of Asia, especially India and Latin America. This convenient channel helps people continue to support each other during these difficult times, as they rethinking how to pay and transfer money globally,” said Shelly Swanback, Western Union’s director of product and platform.
Tuesday’s announcement comes months after Google redesigned the GPay app in the US and introduced a feature to verify bank accounts from lenders like Citi.A writer, Byron has a keen interest in the intersection of personal finance and technology. As a former journalist, he strives to bring complex information to life in a way that can be widely understood and appreciated.
Monika is an expert in international bank transfers, fintech and new banks. He leads the life of a digital nomad and shares his knowledge and experiences of living abroad with users.
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Western Union Online is a very good option for sending money abroad (7.5/10), endorsed by experts. Western Union has more than 150 million customers and tens of billions of dollars annually. Western Union is a very reliable service (7.5/10), although not very transparent about their prices. With high-quality and easy-to-use online and mobile platforms (8.0/10) that receive positive feedback across the board (7.6/10), Western Union Online customers can benefit from reasonably good fees and exchange rates (7.0/10) , especially for bank account deposits.
Western Union is a good choice for transferring money internationally. Although Western Union Online is often a competitive service for transfers to bank accounts, it is rarely the cheapest service for both bank and cash withdrawals. As a result, if someone wants to save money when shipping abroad, we recommend that you do a search on the service comparison engine to find the cheapest shipping service in real time.
Western Union Online is especially suitable for existing customers who are already satisfied with the service and who do not like using a platform that is sometimes the cheapest. After all, Western Union’s exchange rates and transfer fees are affordable for both bank deposits and cash withdrawals, and although it is a competitive service in general, Western Union Online is particularly competitive for the transfers we analyzed from the United Kingdom to India and the USA . , Romania and Pakistan.
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Like all services reviewed by the service, Western Union went through a rigorous evaluation to assess the quality of the service. Initially, our experts opened a Western Union Online account to test its functionality, including ease of registration and speed of money transfer, which provided a comprehensive overview of the platform’s strengths and limitations. Next, we weighed this value against a number of other key criteria, including customer reviews, percentage of payments generated
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