In order to assist Paysend in growing its services internationally, Currencycloud, a cross-border payments provider that helps businesses streamline money transfers in a multicurrency environment, has strengthened its alliance with the latter.

Paysend, a pioneer in international fintech for money transfers, may now take use of new services offered by Visa-owned Currencycloud to provide more money transfer options in the regions it serves.

In December 2023, Colleen Ostrowski, SVP, Treasurer, and Head of Cross-Border Solutions at Visa, gave us a talk about how Visa's partnership with Currencycloud has enabled it to offer "B2B4X" cross-border solutions.

Paysend & Currencycloud: Strengthening FX and Treasury
Paysend's FX and treasury capabilities will be enhanced by Currencycloud, as per the announcement of the extended relationship.

As part of the agreement, Currencyloud will also work with Paysend as a technology partner for cross-border money transfers in all of its major operating markets. The US, EMEA, and Asia-Pacific are among them.

Furthermore, Paysend can now provide its clients with multicurrency wallets, allowing them to store up to 34 different currencies within a single application, thanks to the expansion of its partnership with Currencyloud.

Customers of Paysend now have more options thanks to the company's wide worldwide reach: they may access payments over the Swift network as well.

"We've worked with the team at Currencycloud for several years now, and our partnership keeps going from strength to strength," says Ronnie Millar, CEO and co-founder of Paysend.

"I think the key to our success as a team is that we have the same vision for simplifying and democratizing the global money transfer market."

In fact, Paysend's deeper cross-border payments cooperation with Mastercard in the second half of 2023—which offered cooperative solutions for small and medium-sized businesses—comes before its extended agreement with Currencycloud.

After expanding its partnership with Currencycloud, Paysend is rapidly expanding the range of remittance services it offers in the UK, EU, Canada, and the USA.

Paysend's clients in these important regions may now send remittances to over 180 countries using Swift and other local payments networks, thanks to Currencycloud's remittance expertise and track record of providing more affordable, equitable, and transparent services.

"Remittances are a vital cross-border flow that well exceeds even international aid budgets," says Piers Marais, Head of Product at Currencycloud.

We are honored to be a part of Paysend's growing path, as their technology and experience in this field is a tremendous boost to the industry.

Additionally, Currencycloud will assist Paysend with the introduction of new consumer-facing goods and services that are slated for release in 2024.