21.7 C
Delhi
Friday, January 22, 2021
Home SOCIAL Is Google Pay no longer FREE in 2020?

Is Google Pay no longer FREE in 2020?

Transferring money from Google Pay will no longer be free. The company has reportedly decided that now fees will be charged for the bank to bank transfer. For this, the company has started preparations.

Advertisement

According to the tech site Business Insider, Google Pay is going to discontinue Peer to Peer Payment Facility from January 2021. Instead, an instant money transfer payment system will be added by the company. After this, users will have to pay a fee for transferring money. However, the company has not yet told how much will be charged from users for this. But Google on Wednesday clarified that users in India will not have to pay any fee for money transfers on its payment platform and that the charges are for users in the US.

Advertisement
Google pay
Google Pay competes with players like Paytm, Walmart-owned PhonePe and Amazon Pay in India

“These charges and fees are specific to the US and do it apply to the GPay or G Pay for Business apps in India,” a Google spokesperson said.

G Pay had 67 million users in India with a total payment value of USD 110 billion on an annualized basis, as of September 2019.

Advertisement

G Pay for Business had announced over 3 million merchants in June 2020. It supports UPI and tokenized debit and credit cards as forms of payment in India.

READ MORE: Indian Government bans 43 more mobile Apps in India.

Alex Rogers
Alex Rogers
Alex Rogers, TechJazz, has been very passionate about Tech from an early age. He is into tech that, still prefers the beta version overstable version.

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments