Paysend is a financial technology platform that facilitates international money transfers using Visa and MasterCard, allowing users to send funds to over 170 countries with fixed fees starting at $1.99. The platform addresses the need for fast, secure, and cost-effective remittance solutions by providing real-time processing and transparent exchange rates.
Funding
$337.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
ICMOPPATFounders
Product
Problem
Traditional methods of international money transfer can be slow, expensive, and lack transparency, particularly for individuals sending remittances to family and friends abroad. These methods often involve high fees, unfavorable exchange rates, and delays in processing, creating barriers to efficient and affordable cross-border payments.
Solution
Paysend provides a technology platform for international money transfers, enabling users to send funds to over 170 countries using Visa and MasterCard. The platform offers fast, secure, and cost-effective remittance solutions with real-time processing and transparent exchange rates. Users can send money online via bank cards and accounts, or simply using a mobile number. Paysend leverages its global network and partnerships with financial institutions to facilitate cross-border payments with fixed fees and competitive exchange rates.
Target Audience
The primary target audience includes individuals who need to send money internationally to family and friends, particularly those seeking a fast, secure, and affordable alternative to traditional remittance services.
Features
- Transfers to over 170 countries worldwide
- Fixed transfer fees, with rates starting at $1.99
- Real-time processing for fast transfers, with most arriving within minutes
- Support for transfers via bank cards, bank accounts, and mobile numbers
- Mobile app available for iOS, Android, and Huawei devices
- Bank-level security with certification by Visa, Mastercard, China UnionPay, the FCA, and PCI DSS
- 24/7 global customer support