Currencycloud says it has signed a global expansion deal with transfer Fintech Paysend. The agreement is said to enable Currencycloud to expand its reach in providing its services. Currencycloud will also be supporting Paysend on the launch of new consumer-facing products during 2024.
Paysend is a UK-based payments and transfers provider created in April 2017 with a mission to make money transfers simpler for everyone. Paysend reports over 8 million registered customers and can send money to over 180 countries worldwide.
Currencycloud is another Fintech based in the UK that provides transfers and payments. The company reports that it has processed more than $200 billion to over 180 countries, working with banks, financial institutions, and Fintechs around the world, including Starling Bank, Revolut, and Lunar.
The agreement is said to see Currencycloud boost Paysend’s FX and treasury capabilities, improving services across the US, EMEA, and Asia-Pacific. The deal also means that Paysend customers now have access to multicurrency wallets, which let users hold up to 34 currencies in the same app. Paysend customers will also access payments via the Swift network.
Ronnie Millar, CEO and co-founder of Paysend, said they have worked with Currencycloud for several years, and the expansion of their partnership will help make transfers simpler.
“Paysend is also significantly expanding its remittance offering in the UK, EU, Canada and the USA, drawing on Currencycloud’s experience working with innovative digital remittance firms that offer cheaper, fairer and more transparent services than traditional suppliers. Paysend customers in those regions will be able to send remittances to over 180 countries around the world via Swift and local payment networks.”
Piers Marais, Head of Product for Currencycloud, said Paysend bringing their tech into this space is a huge boost for the sector.