Paysend Partners with Western Union to Enhance Global Money Transfer Services

Published 6 months ago

Paysend, a card-to-card and international payments platform, has reached an agreement with Western Union to bolster cross-border money transfer capabilities. The new partnership will provide customers with an additional direct-to-card payout option, enhancing users’ ability to send funds via Western Union’s digital solution directly to Visa and Mastercard debit cards.

Abdul Abdulkerimov, Executive Chairman and Co-Founder of Paysend, spoke positively of the new collaboration. He emphasized that the joint effort will empower millions of people with accessible cross-border money transfer services. The partnership aligns with Paysend’s mission of simplifying money transfers for everyone and Western Union’s goal of promoting financial inclusion globally.

The Importance of Remittances

According to a 2022 report by the World Bank, remittances played a significant role in sustaining communities and fueling economic growth, with a 5% increase to over $800 billion. Paysend’s unique API solution will streamline the processing of Western Union customer payments directly to Visa and Mastercard debit cards. The system promises near-instant payouts at live FX rates, available 24/7, 365 days a year.

Sheryl McKenzie, Chief Product Officer at Western Union, stressed that the new agreement would offer customers more choice and convenience. It will also provide affordable financial services to improve lives around the world.

Initial Pilot Program and Future Plans

A pilot program has been launched to test the new integration, allowing money transfers from the U.S. and the U.K. to Pakistan, the U.K., and Spain. The organizations plan to include additional countries soon.

This collaboration is the latest in a series of expansions for Paysend. The company recently announced network expansions with Visa and Mastercard in September.

About Paysend

Established in April 2017, Paysend is a UK-based next-generation integrated global payment ecosystem. The company has transformed the way money is transferred globally, enabling consumers and businesses to conduct online transactions seamlessly, regardless of location or currency. Paysend offers over 40 payment methods and global partnerships with major card networks, including Mastercard, Visa, and China UnionPay, ensuring hassle-free money transfers to more than 170 countries worldwide.