back Back

Visa taps Paysend to expand remittance service in the US & LatAm

By Gloria Methri

September 15, 2023

  • Card Payments
  • card-to-card transfers
  • Cross Border Digital Payments
Share

Visa, Paysend, FinTech, Cross Border Payments, Card-to-Card Transfers, USA, Latin AmericaUK FinTech innovator Paysend has announced a strategic collaboration with Visa, enabling its customers globally to send money in real-time to eligible Visa cards across 170 countries and territories.

The five-year partnership aims to revolutionize international money transfers through Visa Direct, Visa’s real-time money movement network. It builds on the companies’ initial collaboration announced in 2022 allowing Paysend’s US and UK customers to send money internationally and domestically to eligible Visa cards.

Paysend aims to bridge the gap for countries underserved by legacy banking infrastructures by leveraging the power of card networks instead of traditional money transfer channels, creating remarkable advantages in terms of cost and service speed.

“At Visa, we understand the importance of building an efficient and secure money movement network to support our partners,” said Ruben Salazar, Global Head of Visa Direct. “Through our expanded collaboration with Paysend, together we are enhancing domestic and cross-border money movement with the innovative payment capabilities and value-added services offered through Visa Direct.”

Paysend can facilitate seamless and cost-effective card-to-card transfers through partnerships with major card issuers, enabling fast transfers between them and creating a global payment network. The partnership with Visa unlocks new payment corridors, enabling payments to eligible cards around the world through the Paysend App.

Chairman and Co-Founder of Paysend, Abdul Abdulkerimov, expressed his excitement about this partnership saying, “Our mission at Paysend is simple – to deliver the world’s simplest money transfer service. By teaming up with Visa, we are well positioned to provide a safe, economical, and hassle-free money transfer experience for millions of individuals currently facing challenges in accessing traditional banking services.”

As part of the agreement, the two companies will engage in joint marketing initiatives to support and accelerate the growth of fast, seamless payments to eligible Visa cards in key corridors, including the USA-Latin America corridor.

Previous Article

September 15, 2023

Rajnish Kumar appointed as Chairman of Mastercard India

Read More
Next Article

September 15, 2023

LHV Bank opens its Northern office in Manchester

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

April 25, 2025

Nationwide Building Society extends partnership with Visa

Read More

April 25, 2025

Standard Chartered to offer FX API service on Temenos Exchange

Read More

April 24, 2025

India’s Juspay opens Singapore office to strengthen APAC presence

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2025
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q1 2025
Know More
Treasury & Capital Markets Systems Report Q1 2025
Know More