Paysend and Currencycloud Forge Deeper Partnership for Global Fintech Expansion

Currencycloud and Paysend have solidified their partnership, marking a significant milestone in the realm of cross-border fintech solutions, as stated in FinTech Magazine. This strategic collaboration aims to bolster Paysend’s global fintech services, enhancing its foreign exchange (FX) and treasury capabilities.

Under this extended partnership, Currencycloud, a prominent cross-border payments company under Visa’s ownership, will play a pivotal role in amplifying Paysend’s reach across various markets worldwide. By leveraging Currencycloud’s expertise and technology, Paysend is poised to introduce advanced money transfer functionalities to its clientele.

The collaboration between Paysend and Currencycloud encompasses a spectrum of enhancements, with Currencycloud acting as Paysend’s technology partner for facilitating cross-border money transfers across key operational regions including the US, EMEA, and Asia-Pacific. Notably, Paysend customers will gain access to multicurrency wallets, empowering them to manage up to 34 different currencies within a unified platform. Additionally, integration with the Swift network further enriches Paysend’s global payment offerings.

Ronnie Millar, CEO and Co-Founder of Paysend, expressed enthusiasm about the enduring partnership with Currencycloud, emphasizing their shared vision of simplifying global money transfers. This sentiment echoes Paysend’s commitment to fostering inclusivity within the fintech landscape.

The expanded collaboration between Paysend and Currencycloud follows Paysend’s strengthened alliance with Mastercard in the latter half of 2023, aimed at delivering joint solutions tailored for small and medium-sized enterprises (SMEs). With the extension of its association with Currencycloud, Paysend is set to significantly enhance its remittance services in key markets such as the UK, EU, Canada, and the USA.

Drawing upon Currencycloud’s remittance expertise and commitment to delivering cost-effective and transparent services, Paysend endeavors to empower customers in these pivotal regions with seamless remittance solutions. Through integrations with Swift and other local payment networks, Paysend customers can now execute remittances to over 180 countries.

Piers Marais, Head of Product for Currencycloud, lauded Paysend’s foray into the remittance sector, highlighting its potential to catalyze positive growth within the industry. Marais expressed pride in Currencycloud’s collaboration with Paysend, underscoring their joint efforts to elevate the cross-border payments landscape.

Looking ahead, Currencycloud will continue to support Paysend in its quest to unveil innovative consumer-facing products and services slated for release throughout 2024. This forward-looking approach underscores the partners’ commitment to driving innovation and delivering enhanced value to customers in the dynamic fintech ecosystem.