Paysend expands reach of cross border money transfers for customers with visa direct
Paysend’s U.S. and UK customers are now able to transfer money internationally and domestically to eligible Visa cards
MIAMI – 03 FEBRUARY 2022 – Paysend, the card-to-card pioneer and international payments platform, today announces the company is expanding its peer-to-peer money transfer services globally. Through the implementation of Visa Direct[1], a real-time[2] push payment platform, Paysend’s U.S. customers will be able to send funds to eligible Visa cards in 107 countries and territories, while UK customers will be able to send funds to eligible Visa cards in up to 114 countries and territories globally.
The integration with Visa Direct follows a period of rapid growth that saw Paysend reach the milestone of five million customers in November last year. Founded less than five years ago, with 14,498 per cent growth over the past four years[3], Paysend is one of the world’s fastest growing FinTechs.
Alex Bessonov, Group Head of Network Development and Strategic Partnerships at Paysend, said: “Transferring money across borders can be met with various challenges, including speed, security and convenience. With Visa Direct, our U.S. and UK customers will now have more options to send money to loved ones globally, directly to eligible Visa cards. We expect an exponential number of new transactions due to this collaboration as Paysend customers send everything from tuition fees to financial gifts to medical bill reimbursements to their family and friends abroad.”
Paysend launched in the U.S. in September 2020, and the company experienced rapid growth as American residents, adopted the platform during the COVID-19 pandemic to securely transfer funds to international accounts in minutes - without visiting a physical location
Jairo Riveros, Managing Director of the United States and Latin America at Paysend, said: “At the onset of the pandemic, many around the world struggled to pay bills, make a steady income, stay connected with loved ones and more. I’m proud to be part of a company that takes chances and has the goal of connecting people around the world through digital money transfers. I’m even more thrilled to know that Paysend is constantly working to do even more for its customers by working with companies like Visa.”
This integration will make money transfers and specifically digital money movement options more widely available and accessible.
Ruben Salazar, SVP, Global Head, Visa Direct, said: “From helping pay bills to sending emergency funds, migrant workers often use remittances to provide financial support to families in their home countries. Visa strives to help make a difference in people’s lives by innovating to remove friction from traditional and time-consuming money-movement processes. We are excited to help enable Paysend to give their U.S. and UK customers the benefits of quick, secure and digital capabilities of Visa Direct.”
To start sending money to loved ones’ eligible Visa cards, visit www.paysend.com.
ABOUT PAYSEND
Paysend is a next generation integrated global payment ecosystem, enabling consumers and businesses to pay and send money online anywhere, anyhow and in any currency. Paysend is UK-based and has global reach having been created in April 2017 with the clear mission to change how money is moved around the world. Paysend currently supports a cross-network operability globally across Mastercard, Visa, China UnionPay and local ACH and payment schemes, providing over 40 payment methods for online SMEs.
Paysend can send money to 135 countries worldwide and has attracted more than five million consumers to its platform. As a global end-to-end payment platform, Paysend has its own global network of banks and international and local payment systems and has partnerships with the major international card networks Visa, Mastercard and China Union Pay as a principal member and certified processor.
For further information visit https://paysend.com.
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[1] Visa Direct capability enabled through Paysend’s financial institution partners.
[2] Actual fund availability depends on receiving financial institution and region.
[3] Based on Paysend’s financial performance 2016-2020.
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