Twitter
Advertisement

Fact Check: Google Pay to charge fee for money transfers in India? Know the truth

With rumours going around that Google Pay will charge fees for money transfers, Google clarified its stand on the matter. Here's what Google said.

Latest News
article-main
FacebookTwitterWhatsappLinkedin

After news started going around that Google Pay will start charging fees for money transfers in India, Google clarified its stand on the matter on November 25.

Google said that the users of Google Pay in India will not be charged for money transfers through its payment platform. It added that the charges that were mentioned are applicable for its users in the United States (US) only.

"These charges and fees are specific to the US and do not apply to the Google Pay or Google Pay for Business apps in India," said a Google spokesperson.

After Google announced that it is relaunching a newly designed Google Pay application next year on both Android and iOS platforms, starting with the US, there were reports that the payment application will also add a fee on the instant money transfers service offered by it.

As per the data of September 2019, Google Pay had 67 million users in India who transacted on a total payment value of USD 110 billion annually. In June 2020, Google announced that the Google Pay for Business app had 3 million merchants as well.

The Google Pay app supports Unified Payments Interface (UPI) as well as tokenised credit and debit cards for payments in India. It faces tough competition from other such applications like Paytm, Amazon Pay, and Walmart-owned PhonePe in the country.

With the new changes planned by Google for the Pay application next year, the users will not be able to send or receive money on a web browser anymore.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement