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Today, 70% of LatAm's population remains unbanked or underbanked. With a mission to improve financial inclusion across the globe and support migrants looking to send money back home, Paysend has stepped in to offer low fee, fast and secure transfers for the community as current economic pressures have made it more difficult to send funds.
Fintech app Purpl – which is a digital wallet and an aggregator of remittance and cash out partners connecting Lebanon to the world, allowing senders to send money to their loved ones back home at lesser cost and instantly – is going live having sealed local and international partnerships and received the required licenses from the Central Bank of Lebanon.
Paysend, the UK-based fintech company, with over 8 million customers, announces a technology partnership with JMMB Money Transfer, a subsidiary of JMMB Group, to provide secure and affordable deposit-to-account transfers to family and friends in Jamaica. Jamaicans can now receive remittances from their loved ones in the UK, USA, and Canada via the Paysend App.
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?
