Paysend set to unlock $4.5 billion in Annual Savings for Consumers and Small Businesses by 2025, slashing costs and time to send money abroad

• Paysend is on a mission to change how money is moved around the world by making payments cheaper and simpler - a £1 fixed fee with no hidden charges.

• The UK-based company is one of the world’s fastest growing FinTechs, reaching over 3.5m consumers, 17,000 SMEs and 110 receiving countries in less than 4 years.

• Its international card-to-card payments technology is set to unlock $5.4bn in savings for consumers and businesses each year by 2025 by reducing the cost of making global payments by up to 60%.

LONDON 26th MAY 2021

Paysend, the card-to-card pioneer and international payments platform, is on a mission to change how money is moved around the world by making payments cheaper and simpler. The UK-based company offers international card-to-card money transfers across the globe for a fixed fee of £1. Paysend’s card-to-card payments are set to unlock $5.4bn in savings each year for consumers and businesses by 2025. To achieve this, the company has set out plans to invest in developing new services and expansion into new geographies following a $125m fund raise.

Paysend is taking a customer-first approach to international payments, offering significant cost savings for people and businesses to any alternative in the current market. 70% of international payments are currently cash-to-cash, inflicting consumers and businesses with fees of up to 5.2 % per transaction and an hour spent by both the sender and recipient to complete each transfer. Paysend’s card-to-card solution reduces fees to only 2% or less, with instant transfers through the Paysend app. A once laborious and slow payments process can now be completed quickly and easily.

Another major issue facing consumers is that globally, 1.7 billion adults remain unbanked* -without access to traditional banking facilities. Paysend’s international card-to-card payment provides immediate access to transfer cash to any card holder around the world. Access to finance is an essential factor for the United Nations in reducing global inequality. Paysend promotes financial inclusion by providing the ability for anybody to send money easily and cheaply, without the need for traditional banking facilities.

The app is downloadable from Google Play or Huawei AppGallery and is simple and easy to use, connecting 12 billion consumers and businesses globally.

Ronnie Millar, CEO at Paysend, commented:

“The current international payments market is difficult to navigate and expensive to use for consumers around the world. Paysend’s vision is to develop a global payments system that puts customers first and is available to all. Our technology allows customers to pay and send instantly anywhere, anyhow, any currency. This saves time, saves money and connects millions of people and businesses around the world. I am excited by the future for our company and the positive impact we can have on the financial lives of our customers as we look to launch new services and grow in new markets.”

Individuals can send money and track their transfers anytime, anywhere. The Paysend app is available on the App Store, Google Play or Huawei AppGallery. The App QR code is also available from the Paysend website and is fully functional for mobile use. Customer service support is available in-app, on webchat, and via email or phone.

Notes to editor

*source: World Bank 2018, Press release: Financial Inclusion on the Rise, But Gaps Remain.

ABOUT PAYSEND

Paysend is a next generation integrated global payment ecosystem enabling consumers and businesses to pay, hold and send money online anywhere, anyhow and in any currency. Paysend is UK-based and has global reach and was created in April 2017 with the clear mission to change how money is moved around the world.

Paysend currently supports connections between 12 billion cards globally across Mastercard, Visa, China UnionPay and local card schemes and provides over 40 payment methods for online SMEs. Paysend operates in 110 countries worldwide and has attracted 3.5 million consumers and 17,000 businesses to its platform. Paysend has a wide network of partners and has recently signed a partnership with Alipay to expand their reach in China as well as launched services in the US, the biggest payments market in the world.

For further information visit https://paysend.com

Notes to Editors

ABOUT PAYSEND
Contact: Alberto Macciani. alberto@paysend.com
Paysend is a next generation integrated global payment ecosystem enabling consumers and businesses to pay, and send money online anywhere, anyhow in any currency. Paysend is UK-based and has global reach and was created in April 2017 with the clear mission to change how money is moved around the world.
Paysend currently supports connections between 12 billion 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 worldwide and has attracted more than 3.5 million consumers and 135,000 businesses to 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.
For further information visit https://paysend.com


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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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