Fintech Paysend has partnered with Banco Rendimento to provide money transfers to Brazil via Pix.
According to central bank data, Pix’s payments volume is equivalent to 80% of debit and credit card transactions in Brazil and some 30,000 Pix transactions are carried out every minute. Through this partnership, Paysend is enabling users to make transfers through Pix’s national payment system to bank accounts in Brazil.
The company’s investment in technology, innovation, and expansion of the global payments network is driving increased financial inclusion. Now serving more than 6 million customers globally, Paysend is providing a method of transferring money internationally to Brazil aligned with Banco Rendimento’s expertise.
Paysend officials stated that their customers will experience affordable rates for transferring money as well as small processing times for funds to reach the recipient. By utilising their app, a phone number and text ID verification will automatically link users to Paysend's interface and allow them to transfer funds.
This news comes after the company has announced that its US customers can send funds directly to eligible Mastercard cards in over 60 countries.
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