Opening up international markets for UK SMEs with Currencycloud
When conducting business overseas, companies of all sizes can be hampered by slow payment times, high costs and limited transfer options. However, these barriers are particularly cumbersome for SMEs, which have fewer resources in terms of workforce and cash to spare. To thrive, young companies need space to focus on growth and access to international markets rather than a lengthy financial administration. So why, in today’s digital and globalised landscape, do SMEs still face inefficient processes when doing business internationally?
In our recent survey of 255 UK SMEs, 4 out of 10 respondents highlighted the significant challenges posed by currency exchange rate fluctuations and fees associated with making international money transfers. Additionally, 3 in 10 said barriers to doing business overseas existed due to settlement times, payments accepted from a limited number of countries and the slow administrative process to start accepting international payments.
Paysend believes it’s time to remove the complexities and difficulties of making international payments for the SME market.
Our partnership with Currencycloud
At Paysend, we want SMEs to have access to a more efficient and transparent method of completing cross-border transactions.
That’s why, in August 2022, we announced our partnership with Currencycloud, a leader in simplifying business in a multi-currency world, to open up global business for UK SMEs, enabling them to reach more customers.
With Currencycloud, we have expanded cross-border payment possibilities for our Paysend Business customers, with access to multi-currency accounts and international payment functionality through SWIFT.
UK SMEs will experience 15 additional local payment rails, gaining the option to move money without hassle to over 180 countries. Access to 15 local rails allows users to send funds to approximately 30 countries using SEPA, ACH, FP and more, reducing administration and cost burdens. Additionally, entrepreneurs can leverage Currencycloud’s APIs to receive funds via SWIFT with a more extensive global coverage.
By adding multi-currency and international payment capabilities, Paysend Business has evolved banking capabilities in the UK to allow clients to hold and convert funds in a broad range of currencies. Users can now send and receive transfers internationally via SWIFT and local payment rails quickly and easily, with FX transfers converted from one currency to another through Currencycloud.
One-stop solution to cater to all international payments needs
By employing our single, centralised platform, small business owners can grow and scale their companies quickly, smartly and securely. Users benefit from cost-effective acquisition and settlement payment solutions, including next-day settlement, multi-currency accounts, payouts to cards and instant payments. Through our platform, SMEs can accept payments online from all major debit and credit cards (Visa and Mastercard) in over 38 currencies globally, including payment gateways Apple Pay and Google Pay, and in over 190 countries at any time.
Our priority is to bring these payment capabilities together under one roof, enabling SMEs to become more flexible, diversify their supply chain and be more cost-efficient in their operations. SMEs no longer need to navigate a fragmented market of different financial providers to meet their international payment needs. Instead, we’re enabling them to focus on growth, serving their customers and developing their offerings.
At Paysend, we are committed to making life easier for business owners. Thanks to our partnership with Currencycloud, UK SMEs are better equipped to scale quickly and make global expansion a reality. Importantly, we also provide a simple, low-cost fee structure and personal account manager to support any enquiries in real time.
Set up your Paysend Business account and gain access to international markets today by clicking here.
By Ashley Mallett, Head of B2B Growth, Paysend.
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Bank wire transfers via SWIFT, SEPA, and ACH power most institutional cross-border payments through established bank networks, while digital services like Paysend streamline personal remittances with direct-to-card transfers* and upfront pricing. This article explains how each system works, its structural trade-offs for everyday international senders, and why Paysend may be more practical for expats, migrant workers, and freelancers, though bank wires remain essential for corporate needs.
This comparison matters most for individuals sending money internationally for personal or family reasons – such as expats supporting relatives, migrant workers paying rent, international students covering tuition, or freelancers handling recurring transfers – rather than corporate treasury operations or large institutional settlements.
Comparisons reflect general industry characteristics and may not apply to all transactions or providers.
Paysend makes it easy to send money to Moldova. Transfers can go straight to eligible Visa Debit cards or bank accounts – often within minutes depending on the recipient’s card issuer, payment method, and required checks With a simple fixed-fee model, you always know what you’ll pay. It’s a straightforward way to send money to Moldova online using card-to-card transfers.
Paysend operates as part of a global payments infrastructure designed to support continuous, reliable money movement across borders. Our international money transfer service allows users to send money to more than 100+ countries, including Moldova, using card networks such as Visa.
