Cross-border money transfers just got smoother as Paysend, the international payments platform, and Western Union join forces to enhance the financial landscape.
Paysend, a leader in card-to-card and international payments, is proud to announce a groundbreaking partnership with Western Union. This collaboration aims to revolutionize cross-border money transfers, making it seamless and efficient for consumers worldwide.
Paysend's integration with Western Union brings forth a new direct-to-card payout option, allowing Western Union customers to send funds directly to Visa and Mastercard debit cards. Initial testing of this innovative solution is already underway in four pilot program countries.
Abdul Abdulkerimov, Executive Chairman, and Co-Founder of Paysend, expressed his excitement about this union, stating, "Paysend's mission is to make money transfers easier for everyone. We are thrilled to join forces with Western Union, a company known for its global reach and commitment to financial inclusion. Together, we will empower millions with accessible cross-border money transfer services."
In a world where remittances grew by 5% to over $800 billion in 2022, playing a crucial role in sustaining communities and fuelling economic growth, Paysend's single API solution comes at an opportune moment. This solution ensures the smooth processing of Western Union customer payments directly to Visa and Mastercard debit cards, offering near-instant payouts at live FX rates, 24/7, 365 days a year.
Sheryl McKenzie, Chief Product Officer at Western Union, highlighted the customer-centric focus of this collaboration, saying, "Western Union and Paysend share an unwavering commitment to place our customers first, while providing an exceptional experience when sending money to friends and family. This agreement gives our customers more choice, convenience, and access to affordable financial services, at the same time, helping build better lives for countless people around the world."
To kickstart this collaboration, the two organizations have initiated a pilot program allowing money transfers from the U.S. and the U.K. to Pakistan, the U.K., and Spain. Future plans include expanding this service to additional countries.
This partnership represents another significant milestone for Paysend, following its recent network expansions with Visa and Mastercard in September.
Paysend is a UK-based next-generation integrated global payment ecosystem. Since its inception in April 2017, Paysend has transformed the movement of money across the world, enabling consumers and businesses to transact online seamlessly, regardless of location or currency. With over 40 payment methods and global partnerships with major card networks such as Mastercard, Visa, and China UnionPay, Paysend ensures hassle-free money transfers to over 170 countries worldwide.
