Yesterday, Google made it clear to Google Pay users in India that it will not charge any kind of transaction fee over money transfers through its platform and is only applicable in the US Region. If you aren’t familiar with that Google Pay has two separate versions of its app one for the US and other for India specific market.
One of the Google spokespeople said, “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.”
This confusion occurred as earlier this month Google said it will discontinue the peer-to-peer payments on its Web-Based version of Google Pay and will charge its users to pay a fee for transferring money through its platform. But now the confusion has made clear as this was only of its United States users. As the India version of the app uses Unified Payments Interface system or UPI which is governed by National Payments Corporation of India.
In of the blog post Google mentioned, “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.”
Moreover, Google redesigned its US version of Google Pay similar to the Indian version of the app adding options like splitting bills among friends and family, messaging feature, and a lot more.
Meanwhile, NPCI added a new rule for UPI Payments in India that may affect Google Pay alongside other UPI Payment Apps across India. As Google Pay had 67 million users with over 3 million merchants using the Business version of the app in June 2020. Prior to this, the app makes a transaction of $110 billion per year.