Paysend announces agreement with Western Union to bolster global money transfer services
Paysend, a card-to-card and international payments platform, today announced an agreement with Western Union to provide seamless and efficient cross-border money transfer capabilities. Paysend’s integration with Western Union will enhance consumers’ ability to send funds using Western Union’s branded digital solution directly to Visa and Mastercard debit cards.
Abdul Abdulkerimov, executive chairman and co-founder of Paysend, expressed his excitement about the collaboration, saying, “Paysend’s mission is to make money transfer easier for everyone. We are thrilled to join forces with Western Union, a company known for its global reach and commitment to financial inclusion. Together, we will empower millions with accessible cross-border money transfer services.”
In 2022, the World Bank reported that remittances grew 5% to over $800bn, playing a crucial role in sustaining communities and fuelling economic growth. Paysend’s single API solution ensures seamless processing of Western Union customer payments direct to Visa and Mastercard debit cards, delivering near-instant payouts at live FX rates, 24/7, 365 days a year.
“Western Union and Paysend share an unwavering commitment to place our customers first, while providing an exceptional experience when sending money to friends and family,” said Sheryl McKenzie, chief product officer, Western Union. “This agreement gives our customers more choice, convenience, and access to affordable financial services, at the same time, helping build better lives for countless people around the world.”
The two organisations recently launched an initial pilot program with the ability to send money from the US and the UK to Pakistan, the UK and Spain. Plans include adding additional countries in the near future.
This partnership marks the latest development in an active period for Paysend, following the announcement of network expansions with Visa and Mastercard in September.
