Fee on money transfers for US, does not apply to India: Google Pay
Google on Wednesday clarified that users in India would not have to pay any fee for money transfers on its payment platform, and that the charges were for users in the US.
Last week, Google had announced that it was launching a redesigned Google Pay app next year on Android and iOS, starting with the US, and that users would not be able to use the service on a web browser.
Reports had said Google Pay would also add a fee on instant money transfers.
"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," a Google spokesperson said.
Google Pay had 67 million users in India with a total payment value of $110 billion on an annualised basis, as of September 2019.
Google Pay for Business had announced over three million merchants in June 2020. It supports UPI and tokenised debit and credit cards as forms of payment in India.
Google Pay competes with players like Paytm, Walmart-owned PhonePe and Amazon Pay in India.
In October, Google deferred its earlier controversial decision of charging 30 percent commission on apps that have subscription services for digital goods on its Play Store in India till April 2022, following backlash from the Indian startup ecosystem
In a blog post, Google said, “First and foremost, we want to reiterate that we are deeply committed to the success of the Indian ecosystem — we do not succeed unless our partners succeed. Being mindful of local needs and concerns, we’ve taken the following immediate steps.”
The steps include setting up listening sessions with leading Indian startups to understand their concerns more deeply, and setting up workshops to help clear any additional questions about Play Store policies.
(Disclaimer: Additional background information has been added to this PTI copy for context)