Last month, Google Pay tied up with Western Union to make it possible for its users in the US to send money to India. In fact, Western Union had integrated its cross border platform with the Google Pay app. After Google Pay was linked by Western Union, it was possible for US users to send money to India by debit or credit card. This provided a lot of convenience to those Indians settled in America, who were trying to send money to their relatives, relatives or relatives in need in India during the pandemic.
How does this new system work?
A Google Pay user sending money from America has to search for the Pay user in India to whom he wants to send money. Once the user has been searched, he has to press the ‘Pay’ button and press Western Union. After this, they have to follow the given steps to send money. Currently, US users can send money to India and Singapore using this facility. About 200 countries to come will also be able to be sent from America using this facility. In these countries, money can be transferred only through a combination of Google Pay and Western Union.
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Remittances are increasing continuously in low-income countries
Western Union’s Middle East, Asia Pacific regional network chief Sohini Rajola told Financial Express Online that sending money to India is a regular feature for Indians living in the US and their families. That’s why Western Union has tried to make it easier in collaboration with Google Pay. Especially in this era of corona epidemic, this is very important. According to a World Bank report, in 2020, remittances from outside to low and middle income countries reached $540 billion. In 2019 it was $548 billion. According to the World Bank estimates, remittances can increase by 2.6 percent to reach $553 billion in 2021. At the same time, it can increase by 2.2 percent in 2022 and it can reach $565 billion.
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