The Google Pay payment service provided by Alphabet Inc. (NASDAQ: GOOGL, GOOG) now supports international transfers. Using this service will likely result in an expansion of users and an increase in payment volumes.
For international payments, Alphabet Inc. (NASDAQ: GOOGL, GOOG) will partner with Wise and Western Union, which approach foreign transfers with extensive experience and in-house infrastructure for this type of service. By the end of this year, Google Pay users will also be able to send money to more than 200 Western Union clients, in addition to users in Singapore, India, and 80 other countries.
In addition to building user demand, Google Pay’s international payments feature could be a significant growth driver. This includes seasonal workers, international students, and remote workers. Users can now choose between the transfer types that are acceptable to them, and they can view the payment history of the payment in the same Google Pay application. From now through June 16, Western Union customers can send unlimited amounts of money for free through Google Pay, and Wise customers will not have to pay a commission for their first transfer of up to $500.
The adoption of electronic payments is on the rise, allowing for small transactions to be made quickly, payments for goods and services to be made, money to be given to loved ones, etc. Among the most popular apps on the market is Google Play: the company has millions of users worldwide, including many active young people committed to new technology. International payments may increase the volume of payments through the platform, and adding this feature will be a great benefit to the application.
Alphabet Inc. (NASDAQ: GOOGL, GOOG) at $2402.51 at the previous session’s close. Stock volume remained at 1.21 million shares, which is lower than the daily average of 1.39 million shares over the past 50 days. Over the past year, Google’s shares have increased by 68.77%. In the past week, the stock has risen by 2.83%. Stocks of the company have gained 15.86% over the past three months and 36.14% over the past six months. Moreover, the company has a current market capitalization of $1655.45 billion, and it has an outstanding share count of 686.47 million.