Paysend Announces Agreement with Western Union to Bolster Global Money Transfer Services
• Integration with Paysend adds an additional direct to card payout option for Western Union Customers
• Initial Testing Now Underway Across Four Pilot Program Countries
LONDON, October 30, 2023 - Paysend, a card-to-card and international payments platform, today announced an agreement with Western Union to provide seamless and efficient cross-border money transfer capabilities. Paysend’s integration with Western Union will enhance consumers’ ability to send funds using Western Union’s branded digital solution directly to Visa and Mastercard debit cards.
Abdul Abdulkerimov, Executive Chairman and Co-Founder of Paysend, expressed his excitement about the collaboration, saying, "Paysend's mission is to make money transfer easier for everyone. We are thrilled to join forces with Western Union, a company known for its global reach and commitment to financial inclusion. Together, we will empower millions with accessible cross-border money transfer services."
In 2022, the World Bank reported that remittances grew 5% to over $800 billion, playing a crucial role in sustaining communities and fuelling economic growth. Paysend's single API solution ensures seamless processing of Western Union customer payments direct to Visa and Mastercard debit cards, delivering near-instant payouts at live FX rates, 24/7, 365 days a year.
“Western Union and Paysend share an unwavering commitment to place our customers first, while providing an exceptional experience when sending money to friends and family,” said Sheryl McKenzie, Chief Product Officer, Western Union. “This agreement gives our customers more choice, convenience, and access to affordable financial services, at the same time, helping build better lives for countless people around the world.”
The two organisations recently launched an initial pilot program with the ability to send money from the U.S. and the U.K. to Pakistan, the U.K. and Spain. Plans include adding additional countries in the near future.
This partnership marks the latest development in an active period for Paysend, following the announcement of network expansions with Visa and Mastercard in September.
About Paysend
Paysend is a UK-based next-generation integrated global payment ecosystem. Since its inception in April 2017, Paysend has revolutionised the movement of money across the world, empowering consumers and businesses to transact online seamlessly, regardless of location or currency. With over 40 payment methods and global partnerships with major card networks such as Mastercard, Visa, and China UnionPay, Paysend ensures hassle-free money transfers to over 170 countries worldwide. For more information about Paysend visit www.paysend.com.