Western Union And Wise Boost Google Pay
June 11, 2021
Western Union and Wise are trusted money wiring services and the companies have teamed with Google Pay. Tech Moran explores the new business team up in the story, “Google Pay Partners With Western Union And Wise To Launch An International Money Transfer Service.”
Wise and Western Union are now integrated parts of Google Pay. Google Pay is only available in the US. Customers can now transfer money through the Google Pay app to Singapore and India. Using Wise’s international services, Google Pay will not be available to eighty countries and Western Union connects the app to two hundred countries by the end of 2021.
In order to send money to India or Singapore, the Google Pay app will give customers the option to send money via Western Union or Wise. Google Pay selected Singapore and India as test countries due to the amount of remittance payments sent there from the US senders.
COVID increased the amount of money sent through online payments, but demands for remittance services have decreased since 2019:
“The Covid 19 pandemic has led to an increase in online payments though generally there is a drop in overall remittances flows as the money migrants sent has declined up to 14 percent from 2019.This is occasioned by worsening economic conditions and employment levels in migrant-hosting countries as revealed by the World Bank.”
Remittance services have an advantage over online payments in that they do not require an online account to receive or send money. Are there implications for enforcement officials working in the cyber crime space? Oh, some.
Whitney Grace, June 11, 2021
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