According to a release, the company’s move into the US is being enabled by Paysend’s partnership with Central Payments, the payments subsidiary of Central Bank of Kansas City.
Paysend says its move into the US is “pivotal”. US residents may now send funds to 70 different countries online.
Paysend has enlisted Matt Montes, who will serve as general manager of the company’s U.S. business. Montes was previously the president of Catalina Card Services. He also founded and led AccountNow, the first online D2C prepaid debit card company in the U.S., which was acquired by Green Dot Corporation.
Paysend believes the US market is a significant opportunity pointing to data that shows $148 billion in international transfers each year – much of this money is going to developing countries.
“Since 2017, Paysend has eliminated borders by enabling over 2 million global citizens to connect via fast and affordable money transfers,” said Ronald Millar, Paysend CEO. “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.”