Paysend reaches 2.5 million customer mark for its Global Transfers Service

By Megha Bhattacharya

UK FinTech Paysend recently announced that it has reached the 2.5 million customer mark for its Global Transfers Service. The FinTech’s customers can now send money to around 90 countries using their smartphone app or web browser platform, and new countries are added every month. The geographic footprint has grown with, between others, a number of African countries, Canada and USA recently launched.

“Paysend has become a leading end-to-end global payment ecosystem, and now one of the foremost service providers in many transfer markets globally,” Ronnie Millar, CEO of Paysend said. “We combine excellent technology, global partners like Alipay and Mastercard, and excellent customer service to ensure that we keep our customer connected with their loved ones, despite what challenges the world throws at them.”

Recently, Paysend announced that it has reached its 2 million customer milestone for its Global Transfers Service. The company said that it has seen a steady growth on all measures, amidst the COVID-19 pandemic, with a 90% growth in volume from Feb 2020 to June 2020. It also recorded a 70% increase in transactions and a 65% increase in active users during the lockdown. The company reached its 1 million customer mark in Sept 2019 and 1.5 million recently in March 2020.

“We’d like to thank every one of our customers and we hope that you’ll continue to use Paysend to stay connected with your loved ones around the world,” Mr Millar added. “We promise to keep improving Paysend for each member of our growing community. This is just another milestone in our mission to create money for the future.”

Established in 2017, Paysend is a Scottish FinTech company and payments disruptor that allows customers to transfer funds while bypassing the traditional banking system, eliminating inefficiencies associated with slow delivery speed, high foreign exchange rates, and correspondent banks’ fees. The service also allows customers based in Europe to transfer funds to any card overseas at a fixed price, using real exchange rates with no traditional fees.