The UK-based fintech business Paysend has launched global money transfers to Uzbekistan, thus expanding its worldwide footprint for its Global Transfers service.
The online international money transfers in Uzbekistan is possible by Paysend in partnership with regional bank Ipoteka-Bank and the technical integrator PAYMO.
Fintech Finance reports that according to the latest data from the World Bank, Uzbeks receive some USD 2.8 billion per year in global transfers, while Russia is the leading country to send money to Uzbekistan. Moreover, World Bank figures show that there are now 270 million people worldwide who live outside their home country, and who are sending an estimated USD 689 billion home. This represents almost ten times as much as it was in 1990.
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