Paysend enters U.S. market with Central Payments partnership

By Pavithra R

UK-based Paysend, a global FinTech disruptor on a mission to change how money is moved around the world, has announced its expansion into the U.S. market, providing an affordable, accessible alternative solution for cross-border transactions.

The company’s entrance to the U.S. is enabled by Paysend’s new partnership with Central Payments, the payments subsidiary of Central Bank of Kansas City. American residents, by leveraging Paysend’s fully-functional, scalable, and redundant processing system, can now securely send funds instantly to a bank account in 70 countries without visiting a physical bank location.

“Our partnership with Paysend continues the Central Payments mission to power the most innovative products in fintech. Paysend’s U.S. launch and the availability of its simple, low-cost transfer solution is particularly timely as consumers look for cashless money transfer options that can be done from anywhere,” said Trent Sorbe, president and founder of Central Payments.

Paysend is launching its American operations on the West Coast under the leadership of Matt Montes, who will serve as general manager (GM) of the company’s U.S. business. Montes is bringing 30 years of financial services experiences to the firm. Most recently, he was serving as president of Catalina Card Services. Previously, he founded and led AccountNow, an online D2C prepaid debit card company, acquired by Green Dot Corporation.

“Since 2017, Paysend has eliminated borders by enabling over 2 million global citizens to connect via fast and affordable money transfers. Now, we are breaking down one of the world’s largest borders – the United States – to help people transfer money from America to loved ones around the world, without leaving the comfort and safety of their homes. Today’s announcement is a large step towards fulfilling our mission to change how money is moved around the world,” said Ronald Millar, Paysend CEO.

Founded in 2017, Paysend is the global FinTech company and payments disruptor. The firm serves over 2 million customers in more than 90 countries globally. Paysend is a registered ‘Visa Direct’ and ‘MasterCard MoneySend’ originating institution.