Paysafe extends money transfer service to 9 countries

Thursday 5 July 2018 00:11 CET | News

Paysafe has extended Skrill Send Direct to 9 countries, allowing customers to transfer money from anywhere in the world to bank accounts and mobile wallets in 45 countries.

The nine new countries added to the Skrill Send Direct network are India, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Morocco, Venezuela and Vietnam.

The money transfer service is offered by Skrill - a Paysafe digital wallet that provides consumers with online stored value accounts. Launched in February 2018, the Send Direct service extends the money transfer options for Skrill customers enabling them to send funds, in any one of 40 different currencies on offer, direct to someone’s bank account or multiple other local payment options. For more information about Paysafe, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

The total value of money transferred using remittances worldwide reached USD 582.4 billion in 2016, and the World Bank estimates 3% to 4% per year growth in 2017 and 2018. Skrill Send Direct is designed to help expats and people living overseas to send money home to their families at a lower cost than traditional bank transfer services which require the sender to have a bank account.

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Keywords: Paysafe, money transfer, Skrill, Skrill Send Direct, bank, mobile wallet, remittance
Countries: World