A new update to Google Pay will allow millions of U.S. users to send money abroad whenever they want. The feature, in partnership with remittances companies like Western Union and Wise, is starting to roll out today.
At this moment, the feature is only open to transfer to users in Singapore or India but Google has plans to extend it to more than 200 countries by the end of 2021. Western Union will support, and likely power, all 200 countries and Wise will extend to support over 80. Google Pay, which already has 150 million users in 40 countries, is also offering free unlimited transfers via Western Union until June 16 and Wise is scrapping fees on your first transfer up to $500.
These features are bolstering Google’s push to have a bigger foothold within the $470 billion international remittances market alongside other more established competitors like PayPal or Samsung Pay. Other digital wallet providers are stretching their limbs elsewhere, with the likes of cryptocurrency trading, in order to stay relevant (or afloat). PayPal, Venmo, and Square’s Cash App already allow users to invest in and trade Bitcoin and other similar currencies but we have yet to learn if Google will follow suit.