back Back

Paysend expands money-transfer services to Brazil

By Edlyn Cardoza

March 10, 2022

  • Banco Rendimento
  • Brazil
  • Central Bank of Brazil
Share

Paysend, International Payments Platform, Money-transfer Services, Pix, Central Bank of Brazil, Banco Rendimento, Instant Payments, Brazil, USAPaysend, the card-to-card pioneer and international payments platform, recently announced the expansion of its money-transfer services to Brazil with Pix, the instant payment platform created and managed by the Central Bank of Brazil. Through an existing partnership with Banco Rendimento, a prominent player in the foreign exchange market in Brazil and a robust Payments structure, Paysend’s users will be able to transfer funds faster, more securely and affordably to Brazil via Pix’s payments infrastructure.

According to central bank data, Pix’s payments volume is already equivalent to 80% of Brazil’s debit and credit card transactions, and every minute some 30,000 Pix transactions are carried out. Through its partnership with Banco Rendimento and working with Pix, Paysend enables users to make transfers through Pix’s national payment system to bank accounts in Brazil. The service is available to all Paysend sending countries.

With features like low fixed fees on money transfers, competitive exchange rates and international payments, Paysend is changing how people manage money globally. Paysend’s continued investment in technology, innovation and expanding its global payments network drives increased financial inclusion at scale. Now serving more than 6 million customers globally, Paysend provides a faster and more affordable method of transferring money internationally to Brazil aligned with Banco Rendimento’s expertise and tradition.

Alex Bessonov, Group Head of Network Development and Strategic Partnerships at Paysend, said: “The partnership between Banco Rendimento and Paysend will help enable customers all over the world to better connect and move funds to their friends and family in Brazil who need their support most. They will experience more affordable rates for transferring money as well as far quicker processing times for funds to reach the recipient. By utilizing Paysend’s easy-to-use app, simple phone number and text ID verification will automatically link users to Paysend’s interface and allow them to transfer funds instantly.”

Jacques Zylbergeld, FX Superintendent at Banco Rendimento, said: “It is a pleasure for Banco Rendimento to provide Paysend’s millions of customers with the advantages and ease of payment via Pix. As a foreign exchange specialist and pioneer in the Brazilian market, Banco Rendimento constantly invests in technology, aiming to provide the best experience to its partners and users, in line with the best compliance practices.”

Previous Article

March 10, 2022

ACI Worldwide launches ACI Fraud Scoring for financial institutions

Read More
Next Article

March 10, 2022

AstroPay launches Payment Links for SMEs in Latin America

Read More








IBSi Daily News Analysis

payment check out, Open Banking

April 23, 2024

Banco Rendimento

UAE retailers lose millions annually on payments fraud; consumers’ wallets impacted

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Nium expands footprint in Asia with Artajasa partnership

Read More

Today

Klarna & Expedia team to offer flexible payments in the US

Read More

Today

Careem Pay expands international remittances to the UK

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023