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Over the past few years, digital remittances served as a lifeline to stay financially connected with loved ones living abroad during the COVID-19 pandemic. Now, despite moving into an era where people are more likely to travel and get together with friends and family, remittances are still expected to rise.
Digital transfer options are continuing to grow in popularity as they offer a convenient way to send money to loved ones living internationally. In fact, the remittance market is expected to grow nearly 5% this year.
According to central bank data, Pix’s payments volume is already equivalent to 80% of debit and credit card transactions in Brazil and some 30,000 Pix transactions are carried out every minute. Through its partnership with Banco Rendimento and working with Pix, Paysend is enabling users to make transfers through Pix’s national payment system to bank accounts in Brazil. The service is available to all Paysend sending countries.
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.
As the focus on digital transformation continues across industries, consumers are leading the charge and making their preferences known. One way they’ve done so is by migrating more and more to convenient options that blend into their busy lives.
It is our goal to make international digital money transfers as quick and easy as possible for our customers. That’s why we’ve partnered with Mastercard SendTM to better expand our service offerings.
