Fee on money transfers for US, doesn’t apply to India: Google Pay


Google on Wednesday clarified that users in India will not have to pay any fees for transferring funds to its payment platform, and the charges are for users in the US.

Last week, Google announced that it was rolling out a redesigned Google Pay app with Google on Android and iOS next year, and that users would no longer be able to use the service on a web browser.

Reports said that Google Pay would also add fees on instant money transfers.

A Google spokesperson said, “These fees and charges are specific to the United States and apply to Google Pay or Google Pay for business apps in India.”

As of September 2019, Google Pay had 67 million users in India with a total payment value of US $ 110 billion on an annual basis.

Google Pay for Business announced more than 3 million merchants in June 2020. It supports UPI and token debit and credit cards as forms of payment in India.

Google Pay competes with players such as Paytm, Walmart-owned PhonePe and Amazon Pay in India.

(Only the headline and picture of this report have been reworked by Business Standard employees; the rest of the content is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always worked hard to provide information and commentary on events that are of interest to you and have broader political and economic implications for the country and the world. Your encouragement and continued feedback on improving our offering has only strengthened our resolve and commitment to these ideals. Even during these difficult times arising from Kovid-19, we are committed to keeping you informed and updated with relevant news, official views and critical commentary on topical issues of relevance.
However, we have a request.

As we fight the economic impact of the epidemic, we need your support even more, so that we continue to provide you with more quality content. Our subscription model has seen an enthusiastic response from many of you who have subscribed to our online content. More subscriptions to our online content can only help you achieve the goals of offering better and more relevant content. We believe in independent, fair and reliable journalism. Your support through greater membership can help us practice the journalism to which we are committed.

Support quality journalism and Subscribe to Business Standard.

Digital editor



Source link

Related Posts