As nearly half of 16-25 year olds could be plunged back into ‘lockdown loneliness’, supporting human connections is critical during pandemic, says Paysend
As nearly half of 16-25 year olds could be plunged back into ‘lockdown loneliness’, supporting human connections is critical during pandemic.
• Mental Health Foundation data: 44% of 16-25 year olds experienced loneliness during lockdown
• 1 in 4 UK adults felt lonely during lockdown, way up from 1 in 10 before the pandemic
• Paysend money transfers aiming to connect friends and families during lockdown to help this
As several countries across Europe head into a second lockdown, concerns have been raised about the potentially damaging effects of loneliness during the period of limited social interaction. UK-based mental health charity the Mental Health Foundation discovered that during the first lockdown in the United Kingdom, one in four adults experienced loneliness, rising to 44% of young people aged 16-24. Shortly before the global pandemic and lockdown restrictions came into place, the rate of loneliness amongst UK adults was much lower, at 1 in 10.
Despite the clearly damaging effects of widespread loneliness on a country’s population, governments across Europe have inadequately provided support for those at risk, resulting in spikes in loneliness and mental issues rates. With countries such as Italy, France, Germany, Denmark, Greece and Spain either in or heading into full or partial lockdowns, the threat of loneliness and depression is once more evident.
“Clearly the biggest threat throughout the pandemic has been that of infection, but we also need to look after our mental and financial wellbeing,” Ronnie Millar, CEO of Paysend said. “Loneliness is a serious issue in the world at the moment as people are cut off from their loved ones. It’s essential that people find ways of staying connected with friends and family, and tech companies need to lead that through simple and convenient services. Many will also be suffering financial strain, and at Paysend we are focused on making it simple for family members to support each other through affordable and efficient global money transfer.”
Paysend is an international money transfer service that focuses on building connections between people across borders, and it has seen huge growth since the beginning of lockdown in March. Over 1 million new users have joined the service in the last 6 months, pushing Paysend past the 2.5 million customer milestone. At the start of the pandemic, Paysend offered exclusive zero-fee transfers to people in countries most affected, including China and Italy, and continued its drive in the following months as more and more expats found themselves isolated from their communities. That was able to support hundreds of thousands of people living away from their families in countries like Philippines, Nigeria, Turkey and more. As the second lockdown affects more people in more countries, Paysend has pledged to boost its efforts in helping people to stay connected with their friends and family living far apart.
“Paysend has worked hard to save people money on transfers over the past months through a combination of special offers, exclusive rates and education in the benefits of switching to digital money,” Mr Millar added. “As we move into more uncertain times with the second lockdown, we will be continuing to provide fast, low-cost and hassle-free money transfers that keep people connected and keep loneliness at bay.”
Notes for Editors:
Contact: Alberto Macciani, CMO Paysend. firstname.lastname@example.org
Paysend is a global Fintech company born in 2017, based in UK and regulated by the FCA. Servicing over 2.5 million customers in 50+ countries and multiple currencies, Paysend enables instant cross-border transfers, card processing and merchant acquiring as well as local payments in a way which is simple, smart and secure.
As a global end-to-end payment platform Paysend has its own global network of banks, 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. Paysend recently opened its US operations and secured a partnership with Alipay in order to grow its global footprint.
Paysend is money for the future.