Paysend expands cross-border transfers with Visa Direct

International payments platform Paysend has announced it is expanding its peer-to-peer money transfer services globally via Visa Direct.

The company’s US customers will be able to send funds to eligible Visa cards in 107 countries while UK customers will be able to send funds to eligible Visa cards in up to 114 countries and territories globally.

Paysend, which was founded in 2017, said the move follows a period of growth that saw the business hit five million customers in November

“Transferring money across borders can be met with various challenges, including speed, security and convenience,” said Alex Bessonov, group head of network development and strategic partnerships, Paysend. “With Visa Direct, our U.S. and UK customers will now have more options to send money to loved ones globally, directly to eligible Visa cards.
“We expect an exponential number of new transactions due to this collaboration as Paysend customers send everything from tuition fees to financial gifts to medical bill reimbursements to their family and friends abroad.”

Ruben Salazar, SVP, global head, Visa Direct, said: “From helping pay bills to sending emergency funds, migrant workers often use remittances to provide financial support to families in their home countries. Visa strives to help make a difference in people’s lives by innovating to remove friction from traditional and time-consuming money-movement processes. We are excited to help enable Paysend to give their U.S. and UK customers the benefits of quick, secure and digital capabilities of Visa Direct.”

    Share Story:

Recent Stories


Safeguarding economies: DNFBPs' role in AML and CTF compliance explained
Join FStech editor Jonathan Easton, NICE Actimize's Adam McLaughlin and Graham Mackenzie of the Law Society of Scotland as they look at the role Designated Non-Financial Businesses and Professions (DNFBPs) play in the financial sector, and the challenges they face in complying with anti-money laundering and counter-terrorist financing regulations.

Ransomware and beyond: Enhancing cyber threat awareness in the financial sector
Join FStech editor Jonathan Easton and Proofpoint cybersecurity strategist Matt Cooke as they discuss the findings of the State of the Phish 2023 report, diving into key topics such as awareness of cyber threats, the sophisticated techniques being used by criminals to target the financial sector, and how financial institutions can take a proactive approach to educating both their employees and their customers.

Click here to read the 2023 State of the Phish report from Proofpoint.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.

Future of Planning, Budgeting, Forecasting, and Reporting
Sage Intacct is excited to present FSN The Modern Finance Forum’s “Future of Planning, Budgeting, Forecasting, and Reporting Global Survey 2022” results. With participation from 450 companies around the globe, the survey results highlight how organisations are developing their core financial processes by 2030.