Currencycloud and Paysend have extended their established partnership to enhance Paysend's global service offerings. With this agreement, Currencycloud will strengthen Paysend's foreign exchange and treasury functionalities, solidifying its role as a vital partner for cross-border money transfers across the United States, Europe, the Middle East, Africa, and the Asia-Pacific region.
Furthermore, as part of the agreement, Paysend customers will now benefit from multi-currency wallets within the app, enabling them to store up to 34 currencies. Additionally, Paysend users will gain access to payments through the Swift network, expanding the array of options available within Paysend's comprehensive global network.
“We’ve worked with the team at Currencycloud for several years now and our partnership keeps going from strength to strength”, commented Ronnie Millar, CEO and co-founder of Paysend. “I believe the secret to our success together is that we share a vision for making the global money transfer landscape simpler and more inclusive”.
Expanding its remittance services in the UK, EU, Canada, and the USA, Paysend is leveraging Currencycloud's expertise in collaborating with pioneering digital remittance companies, which provide more cost-effective, equitable, and transparent services compared to conventional providers. Customers of Paysend in these regions will have the capability to send remittances to over 180 countries globally through Swift and local payment networks.
Piers Marais, head of product for Currencycloud, also added: “UN estimates suggest that between 2015 and 2030 around $6.5 trillion will be sent home to developing countries by migrants. It’s a vital cross-border flow that well exceeds even international aid budgets. Paysend bringing their technology and expertise into this space is a huge boost for the sector, and we’re proud to be on the growth journey with them”. Currencycloud will also assist Paysend in the rollout of upcoming consumer-oriented products and services planned for release in late 2024.