Paysend partners with Transformify

Wednesday 1 March 2023 12:00 CET | News

UK-based fintech company Paysend has announced its partnership with Transformify to provide businesses with improved management of vendors and payroll services.

Following this collaboration, Paysend will offer its platform solutions to Transformify, in order to improve the latter’s payout-to-cards capability for vendors and contractor payroll-on-demand, as well as for its B2B employment services (such as temporary staffing, compliance, payroll on-demand, and vendor management tools). This will offer customers the possibility to pay their remote employees directly with their Visa and Mastercard accounts while paying a low cost through the use of Transformify’s platform. 

In order to access and use the Paysend platform, contractors and vendors simply need to offer their full name and their bank account number. This will allow their business to pay instantly and directly to their bank cards. The process is structured to avoid incurring SWIFT and intermediary bank fees, and 90% of the transfers are set to arrive in a fast and secure manner. 

UK-based fintech company Paysend has announced its partnership with Transformify to provide businesses with improved management of vendors and payroll services.

Paysend’s services and recent developments

Paysend is an integrated global payment ecosystem that aims to improve the development of customers and businesses alike with the possibility of paying and sending money online, at all times and places, regardless of the currency of the client.

Recently, the fintech announced a commercial partnership with Lebanon-based remittance and cashout platform Purpl in order to enable money transfers in the region. Based on the details provided in the press release, the collaboration was set to allow approximately 20 million Lebanese people to send money to their loved ones, families, or friends that live back home. 

Earlier in January, Paysend signed a strategic deal with JMMB Money Transfer, which aimed to offer secure and affordable deposit-to-account transfers to customers living in Jamaica. 

Throughout the collaboration, Jamaican clients were allowed to receive remittances from their families, and acquaintances in the USA, UK, and Canada, while using the Paysend application. Furthermore, customers were given the opportunity to get more money from their bank transfer on the same day, efficiently and securely. They could also get receiving funds from the application, as an added feature and benefit from using an ATM at any time in order to access their funds and make an online purchase or transaction. 

Both companies aimed to deepen the market industry through their international partners while meeting the expectations and demands of merchants across the world. 

Paysend focuses on making clients capable to receive online payments from major credit card companies, in multiple currencies and countries, such as the payment gateways Apple Pay and Google Pay. Currently, Paysend offers multiple benefits to SMEs as well, trying to improve their experience with the process of accepting money from overseas. These include payment links, accepting payments globally, a high level of security, developer-friendly payments API, as well as subscription payments. 

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Keywords: partnership, online payments, digital payments, cross-border payments, ecommerce, remittance, money transfer, financial services, payment methods, instant payments
Categories: Payments & Commerce
Companies: Prove, Transformify
Countries: United Kingdom
This article is part of category

Payments & Commerce




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