Paysend Global Expand Through Partnership With Currencycloud

Currencycloud, the cross-border payment provider, and Paysend, the UK-based money transfer app, have announced a partnership for their expansion project.

This partnership aims to facilitate Paysend’s global services, providing users with an extensive solution for currency exchange and international money transfers.

Currencycloud Seeks To Enhance International Money Transfers Services

A main focus of this collaborative effort is to merge multicurrency wallets into one Paysend app, which enable users to own over 34 diverse currencies on the same platform. This initiative enhances convenience and flexibility for international transactions.

The Chief Executive Officer and Co-founder at Paysend, Ronnie Millar, acknowledge the collaborative effort with Currencycloud for several years. He highlighted the team partnership with Currencycloud is poised for innovation. With their shared vision, they are committed to simplifying the worldwide money transfer landscape in an inclusive progression.

According to the announcement to expand its partnership, Currencycloud is positioned to enhance Paysend’s FX and treasury capabilities.

The Visa-owned cross-border fintech, Currencycloud collaborative effort with Paysend, helps the latter broaden its fintech services across the world. The company also enables enterprises to simplify transactions in a multicurrency realm.

Previously, Currencycloud teamed up with TangoPay, a UK-based Fintech Company to improve its remittance service for expatriate customers based in the UK. This collaborative effort offers real-time competitive foreign exchange rates and localized payment options for clients. TangoPay leverages Currencycloud’s services to streamline operations, customize payment solutions, and improve diverse aspects of transactions in remittance.

The Collaboration Aims To Streamline The Global Money Transfer Landscape

Through this newly established collaboration, Currencycloud will utilize its expertise to improve Paysend’s foreign exchange and treasury capabilities. This initiative enables smoother cross-border transactions across various regions such as The Asia-Pacific, Africa, the Middle East, Europe, and the US.

Furthermore, Paysend provide access to payments through the Swift network for their client, while expanding their payment option and the app’s global coverage. The firm is positioned to support the release of its upcoming consumer-facing services and products in 2024.

In December 2023, Colleen Ostrowski, Treasurer, SVP, and Head of Cross-Border Solutions at Visa, acknowledged Visa’s partnership with Currencycloud. This partnership is positioned to offer Visa’s B2B4X cross-border solutions to the global audience.

This effort also positions Currencyloud as Paysend’s technology associate for cross-border transaction flows throughout its core markets of operation.

Additionally, Currencycloud offers services to Paysend, which is fully owned by Visa, enabling them facilitate other transaction capabilities in the marketplace it operates.