Paysend races to 1.5 million customers

International money transfer start-up reaches the 1.5 million customer milestone with over 3,000 new users every day.

UK-based fintech Paysend announced that their Global Transfers service has reached 1.5 million customers, despite only having been founded in April 2017. With roughly 300 million people globally sending money across borders on a regular basis, Paysend’s user base represents a significant market share, and indicates the high rate of growth enjoyed by the business.

Paysend’s international transfer platform lets users send money to over 80 countries worldwide for a flat fee of £1 (or equivalent amount depending on the sending country). One of the key drivers for the company’s rapid growth has been the opening up of new money transfer corridors to and from different countries. In the last few months Paysend has been launched in South Korea, Japan and Turkey, and the service is due to go live in the US, Canada and Australia imminently.

Ronnie Millar, CEO of Paysend said: “We’re delighted that Paysend Global Transfers has proven so popular, because it’s focused on developing a more inclusive world where money can be transferred easily and quickly to where it’s needed most. Our mission is to create a world without borders, and the fact that we’re adding new countries to the platform every month means that we’re constantly appealing to new customers that are looking for a fast, safe and cost efficient money transfer.”

The news of Paysend’s 1.5 million customer milestone comes just a week after the business officially launched its new product - the Paysend Global Account. This international current account allows users to spend money abroad with zero fees, exchange and hold multiple currencies at the same time, and make international transfers from within the app.

Notes to editors

About Paysend

Paysend is a global Fintech company born in 2017, based in UK and regulated by FCA. Servicing over 1.5 Million customers in over 80 countries and multiple currencies, Paysend enables instant cross border as well as local payments in a way which is simple and smart.

Paysend has its own global network of banks, international and local payment systems and is partnering with the major international card networks: Visa, Mastercard and China Union Pay as a principal member and certified processor. Paysend is money for the future.

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About PaySend

Paysend is a next generation integrated global payment ecosystem enabling consumers and businesses to pay, and send money online anywhere, in any currency. Paysend is UK-based and has global reach with the clear mission to change how money is moved around the world. Paysend currently connects 12 bn cards globally across Mastercard, Visa, China UnionPay and local card schemes and provides over 40 payment methods for online SMEs. Paysend operates in over 60 countries with more than 3.8 million consumers and 17,000 businesses on its platform. 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 and Canada operations and secured a partnership with Alipay in order to grow its global footprint. Paysend is Money for the Future.

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