Using global payments infrastructure company Terrapay, Paysend will enable US and European customers to send money to their loved ones via MOVii mobile wallets and help banked and unbanked Colombians carry out financial transactions from their mobile phone, in real-time.
The payments platform company officials stated that global remittance plays an important role in the economic development in Latin America. Not only do cross-border money transfers increase investment opportunities and growth within the region, but it also helps to reduce poverty. Since nearly half of Paysend’s digital money transfers are sent from the US to Colombia, the company is continually finding new ways to help their customers stay connected to love ones, they added.
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