Paysend and Visa Owned Currencycloud sign major Global Expansion Deal

1 month ago

Currencycloud, the experts simplifying business in a multi currency world, and Paysend, a global fintech leader in international money transfers, have announced a major expansion to their longstanding partnership that will see Paysend expand its services around the world.

The deal will see Currencycloud boost Paysend’s FX and treasury capabilities, with the fintech becoming a key partner of cross-border money movement flows for Paysend across the US, EMEA, and Asia-Pacific.

The deal also means that Paysend customers now have access to multi currency wallets, which let users hold up to 34 currencies in the same app. Paysend customers will also access payments via the Swift network adding further choice to Paysend’s extensive global coverage.

Ronnie Millar, CEO and co-Founder of Paysend, said: “We’ve worked with the team at Currencycloud for several years now and our partnership keeps going from strength to strength. I believe the secret to our success together is that we share a vision for making the global money transfer landscape simpler and more inclusive.”.

Paysend is also significantly expanding its remittance offering in the UK, EU, Canada, and the USA, drawing on Currencycloud’s experience working with innovative digital remittance firms that offer cheaper, fairer, and more transparent services than traditional suppliers. Paysend customers in those regions will be able to send remittances to over 180 countries around the world via Swift and local payment networks.

Piers Marais, Head of Product for Currencycloud, said: “UN estimates suggest that between 2015 and 2030 around $6.5 trillion will be sent home to developing countries by migrants. It’s a vital cross-border flow that well exceeds even international aid budgets.

“Paysend bringing their technology and expertise into this space is a huge boost for the sector, and we’re proud to be on the growth journey with them”.

Currencycloud will also be supporting Paysend on the launch of new consumer-facing products and services scheduled for release in late 2024.

Notes to Editors

Contact for Visa
Matt Rowntree, Head of Communications Visa Cross-Border Solutions, mrowntre@visa.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 make money transfer simpler for everyone. Paysend now has over 8m registered customers and can send money to over 180 countries worldwide. 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 as a principal member and certified processor.

About Currencycloud
Banks, Fintechs, and businesses everywhere can make bigger, better, bolder leaps with Currencycloud, a Visa solution.
Currencycloud gives businesses the capability to move money across borders and transact globally in multiple currencies, fast. Experts at what they do, their technology makes it easy for clients to embrace digital wallets, and to embed finance into the core of their business - no matter what industry they’re in.
Since 2012, Currencycloud has processed more than $200bn to over 180 countries, working with banks, financial institutions, and Fintechs around the world, including Starling Bank, Revolut, and Lunar. Based in London with offices in New York, Amsterdam, Cardiff, and Singapore, Currencycloud works with partners including Integrated Finance, GPS, and Mambu to deliver simple, clear cross-border infrastructure solutions for clients. They are regulated in the UK, Canada, the US, the EU, and Australia, and were acquired by Visa in December 2021

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About Paysend

Created in 2017, Paysend is a UK based next generation integrated global payment ecosystem. It enables consumers and businesses to pay and send money online anywhere, anyhow and in any currency. Paysend is now a leading international money transfer service that enables individuals and businesses to send funds securely, quickly, and cost-effectively to over 190 countries worldwide. Paysend has its own network of banks and international and local payment systems, providing a seamless and transparent money transfer experience through its innovative technology and user-friendly mobile app. For further information visit https://paysend.com.

Press Contacts

Jairo Riveros

Group Head of Strategy

+1 954 999 9285

jairo_riveros@paysend.com