Paysend is leveraging its money transfer service offerings in Latin America, a press release reported.
"At Paysend, we understand that remittances play an important role for our customers in supporting their loved ones," said Jairo Riveros, Paysend. "Given the current macroeconomic conditions, transferring funds play an even more important role, because it's being used to cover necessities like food and housing. By offering card-to-card, card-to-bank or card-to-digital wallet transfers, we're making it easier, and more affordable, for our U.S. customers to send money back home when their loved ones need it the most."
The card-to-card pioneer and international payments platform is now offering quicker, more secure and cost-effective transfer services. The company has now expanded to the Dominican Republic, Haiti, Jamaica and Mexico, as well as Bolivia, Colombia, Peru, Uruguay, Brazil, Chile and Argentina.
“Today, 70% of LatAm's population remains unbanked or underbanked,” a recent press release states. “With a mission to improve financial inclusion across the globe and support migrants looking to send money back home, Paysend has stepped in to offer low fee, fast and secure transfers for the community as current economic pressures have made it more difficult to send funds.”
The offering follows the launch of Paysend’s Libre solution. Created in collaboration with Mastercard Send technology last year, the service is used by unbanked recipients based in Northern Central America looking to use and receive funds from U.S. instantly through digital card.
The global end-to-end payment platform counts with the support of a payments network, which includes Visa, Mastercard and China Union Pay. It currently supports cross-network operability globally across Mastercard, Visa, China Union Pay and local ACH and payment schemes, and offers more than 40 payment methods for online SMEs.
“Paysend can send money to over 100 countries worldwide,” a press release stated. “Paysend has its own global network of banks and international and local payment systems.”