2022-03-07

Paysend Further Bolsters Real-Time Money Transfer Services for U.S. Customers

New countries available for Mastercard money transfers with Paysend

MIAMI – 7 MARCH, 2022 – Paysend, the card-to-card pioneer and international payments platform, today announced that its U.S. customers can now send funds directly to eligible Mastercard cards in over 60 countries, including Mexico, Guatemala, Dominican Republic, Honduras, El Salvador and Colombia, as well as within the U.S. Recipients will generally see the money appear on their cards within minutes. By leveraging Mastercard Send, a payments platform that enables people and organizations to send and receive money in near-real time, domestically and cross-border, Paysend is able to continue to make digital money transfers more widely available and accessible.

Jairo Riveros, Chief Strategy Officer and Managing Director for the U.S. and LATAM at Paysend, said: “With this new functionality, U.S. residents can easily transfer money to friends and family around the globe, directly to an eligible Mastercard card. There’s no shortage of applications for this convenience. For example, a parent can send quick cash to a child who is studying overseas, a neighbor can pay another neighbor securely for a used item, long-distance family members can quickly send money to help with medical bills and groceries, and much more.”

With more than 20 million migrants from Latin America residing in the U.S., Latin American nations are seeing record remittance flows. According to the World Bank[1], remittance flows into Latin America increased 21.6% in 2021 over 2020. 

Riveros added, “International remittances to the region serve as a safety net for millions of residents in Latin America and are an important source of financing for economic development.  Our service provides a simple, speedy and secure way to facilitate money transfers into the region and into the hands of those that need it most”.

Alex Bessonov, Group Head of Network Development and Strategic Partnerships at Paysend, said: “The global pandemic has continued to propel payments and contactless transactions into new highs. As more consumers turn to digital money transfers to support friends and family across the globe, Paysend is continuing to lower the barriers of entry to global payments.”

This news follows several Paysend partnerships, platform enhancements and growth milestones all focused on connecting friends and family around the world. Globally, the company has acquired over five million customers and grown 14,498 percent over the past four years.

For more information, 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 over 150 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.

[1](2021, November 17). Remittance Flows Register Robust 7.3 Percent Growth in 2021. https://www.worldbank.org/en/news/press-release/2021/11/17/remittance-flows-register-robust-7-3-percent-growth-in-2021

 

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