Paysend partners with Visa

Thursday 14 September 2023 14:19 CET | News

UK-based fintech Paysend has announced its partnership with Visa in order to offer its customers around the world improved international money transfers.

Throughout this partnership, Paysend’s customers around the world will be enabled to send money in real-time to other eligible Visa cards across 170 countries and regions globally. 

The five-year collaboration is set to improve international money transfers through the use of Visa Direct, the company’s real-time money movement network. Furthermore, it will also build on the firms’ initial collaboration announced in February 2022, and it will enable Paysend’s UK and US clients to make international payments to eligible Visa cards. 

The announcement also builds on the partnership between Paysend and CurrencyCloud (which currently is a part of the Visa Cross-Border Solutions), in order to deliver a customised and personalised approach that uses competitive rates present in the market on Visa Direct’s money movement rails. Moreover, Paysend also aims to bridge the gap present between countries underserved by banking infrastructures by using card networks instead of traditional money transfer channels. 

As part of the deal, both companies will engage in marketing initiatives as well, in order to accelerate and improve the overall development process of payments for all eligible Visa cards in key corridors, such as the USA-Latin America corridor. 


UK-based fintech Paysend has announced its partnership with Visa in order to offer its customers around the world improved international money transfers.


Paysend’s recent partnerships and collaborations

UK-based card-to-card payments company Paysend had multiple collaborations in the last couple of months, covering different geographic areas around the world. 

In September 2023, Mastercard announced its partnership with Paysend in order to augment cross-border payments for small and medium-sized enterprises (SMEs) that wanted to pay vendors across the globe in a quick and secure manner. 

The strategic deal aimed to enable SMEs to send and receive transactions to and from a range of developed and emerging markets around the world, 24/7 and 365 days a year. The Open Payment Network was designed to orchestrate end-to-end payment flows, from initiation to settlements, and to allow near real-time payments through connections, with local network collaborators and instant payment schemes. 

Earlier in August 2023, Israel-based fintech Okoora partnered with Paysend in order to allow it to enter the local market. Following this deal, Paysend was set to gain API access to Okoora’s ABCM artificial intelligence-powered hub, which was expected to enable the company to make payments to all the Israeli clearinghouses. 

Furthermore, Paysend was also allowed to use Okoora’s Virtual Israeli Shekel (ILS) international bank account number (IBAN) services in order to make its Shekel transactions. This aimed to simplify the intricacies that appeared with conventional banking processes. The two companies focused on improving liquidity and conversion solutions for Paysend, while also allowing the firm to make transactions involving ILS at competitive rates. 

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Keywords: partnership, cross-border payments, mobile payments, online payments, digital payments, payments , ecommerce
Categories: Payments & Commerce
Companies: Paysend, Visa
Countries: World
This article is part of category

Payments & Commerce




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