By leveraging Mastercard Send, a payments platform that enables people and organisations to send and receive money in near-real time, domestically and cross-border, Paysend is able to continue to make digital money transfers more widely available and accessible.
As per the press release, with more than 20 million migrants from Latin America residing in the US, Latin American nations are seeing increased remittance flows. According to the World Bank, remittance flows into Latin America increased 21.6% in 2021 over 2020.
Company officials added that the global pandemic has continued to push payments and contactless transactions into new highs. As more consumers turn to digital money transfers to support friends and family across the globe, Paysend lowers the barriers of entry to global payments.
This news follows several Paysend partnerships, platform augmentations, and growth focused on connecting people the world. Globally, the company has acquired over five million customers and grown 14,498% since 2019.
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