Paysend and Currencycloud facilitate expansion for SMEs

Wednesday 24 August 2022 10:47 CET | News

UK-based fintech Paysend has partnered with Currencycloud to help SMEs reach new customers globally and control financials through Paysend Business.


Paysend’s newly launched Business product is a part of the company’s goal of making money movement around the world easier for SMEs. Paysend Business removes the complexities SMEs face when making international payments, giving them access to a suite of international payment options including SWIFT, local payment rails, and payments to cards all from one centralised platform.

The partnership with Currencycloud allows Paysend Business to offer SMEs an augmented and transparent way of making cross-border transactions. They can now move money across the globe to more than 180 countries without the hassle of setting up local bank accounts. Using Currencycloud’s APIs, Paysend Business’ SME clients can receive funds by SWIFT and collect and hold up to 34 currencies. They can seamlessly convert these funds back to the required currency at competitive FX rates.

In a statement, officials from Paysend stated that businesses are looking for a one-stop solution that meets all their domestic and international payment requirements efficiently and securely. With access to a full range of multi-currency accounts, businesses working with Paysend can scale their international operations quickly and securely.

Recent partnership with Visa

The company has recently expanded its peer-to-peer money transfer services with the implementation of Visa Direct. Paysend’s US customers will be able to send funds to eligible Visa cards in 107 countries and territories, while UK customers will be able to send funds to eligible Visa cards in up to 114 countries and territories globally.

Paysend and facilitates expansion for SMEs through Currencycloud

Further facilitating money transfers

To additionally facilitate money services around the world, Paysend also partnered with Banco Rendimento to provide money transfers to Brazil via Pix.

According to central bank data, Pix’s payments volume is equivalent to 80% of debit and credit card transactions in Brazil and some 30,000 Pix transactions are carried out every minute. Through this partnership, Paysend is enabling users to make transfers through Pix’s national payment system to bank accounts in Brazil.

The company’s investment in technology, innovation, and expansion of the global payments network is driving increased financial inclusion. Now serving more than 6 million customers globally, Paysend is providing a method of transferring money internationally to Brazil aligned with Banco Rendimento’s expertise.

More information on Paysend

Paysend is a payment platform enabling customers and businesses all around the world to pay, hold, and send money online anywhere, anyhow, and in any currency. The company is currently supporting connections between 12 billion cards globally across Mastercard, Visa, China UnionPay, and local card schemes in multiple countries across the globe. 

Since its start Paysend has launched a number of products like Paysend Global Transfers, Paysend Global Account, Paysend Link, and Paysend Business, all designed to connect customers and businesses around the world.

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Keywords: money transfer, cross-border payments, cross-border ecommerce, payment methods, SMEs, SWIFT
Categories: Payments & Commerce
Companies: Currencycloud, Paysend
Countries: World
This article is part of category

Payments & Commerce




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