Paysend, a payments Fintech, says that it has topped 5 million customers with 500,000 arriving in the past 6 months. Paysend, founded 5 years ago, claims to be one of the fastest growing Fintechs in the world.
Paysend’s platform is designed to remove the need for third-party acquirers or processors generating efficiency for consumers and SMEs. Paysend users may reach over 135 countries around the world.
Paysend states that in 2021 it made significant progress in expanding and enhancing its global payment network with Plaid, Mastercard, and Visa. The company currently claims a headcount of over 500 people around the world including North America, the Middle East, and Asia-Pacific.
Paysend says that 70% of international payments are currently still cash-to-cash along with high fees that average up to 5.2% per transaction. Paysend says its payments platform slashes fees by as much as 60%.
Ronnie Millar, CEO at Paysend, stated:
“Reaching five million customers in under five years is testament to the unique capabilities and customer value Paysend offers versus current payments alternatives. Our vision is to create the next generation integrated global payment ecosystem, enabling individuals and businesses to pay and send anywhere, anyhow and in any currency. Our platform helps to connect millions of ordinary people and businesses, increasing financial inclusion worldwide.”
Millar added that they have only “scratched the surface” on the $133 trillion market opportunity of cross-border payments.
