London-headquartered Paysend, an international funds transfer company, has confirmed the launch of its money transfer services in Australia. Paysend’s services can now be used in the $1.3 trillion economy to send funds to companies located abroad.
The firm said that China, India, and Vietnam are the nation’s top destinations for sending remittance payments.
Paysend’s management stated:
“Here at Paysend we’re on a mission to make it easy and affordable to send money from any country to any country, and we won’t stop until we’ve created a world without borders for all of our users. We’re delighted to announce that our lightning-fast global money transfers can now be sent from Australia.”
Paysend platform users may send funds from Australia through the Paysend app to payment cards or bank accounts directly for a nominal fee of AUD 2. The same flat fee applies to all transactions, regardless of the amount being sent. It takes “minutes” for the funds to reach the recipient’s bank account or card.
In January 2020, Paysend confirmed the appointment of Alberto Macciani as the company’s Global CMO. Macciani will be further developing and refining the firm’s brand and global marketing strategy.
Founded in 2015, Paysend is a Scottish Fintech firm and considers itself to be a payments industry disruptor that aims to help users to transfer money globally, while going around the slow traditional banking system. The company aims to eliminate inefficiencies related to slow transaction processing times, expensive foreign exchange rates, and various other fees.
Paysend’s service also lets users in Europe transfer money to any payment card overseas at a flat rate, using actual exchange rates with no extra fees.
The Paysend Global Account, the firm’s product which is a “smart” card connected to fiat and digital currency wallets, lets customers make payments in several major currencies.
Paysend has also partnered with Pakistan’s JS Bank in order to launch a digital wallet for freelance workers in the $300+ billion economy.