Currencycloud to bolster Paysend’s cross-border capabilities 

credit: Shutterstock
credit: Shutterstock

Currencycloud and Paysend have announced a “major expansion” on their pre-existing partnership that see’s the latter bolstering its services into new markets across the world. 

The partnership extension means that Currencycloud will enhance Paysend’s FX and treasury capabilities and become a key partner for the multi-currency firms cross-border money movement flows across several key regions. 

Ronnie Millar, CEO and Co-Founder of Paysend, said: “We’ve worked with the team at Currencycloud for several years now and our partnership keeps going from strength to strength. I believe the secret to our success together is that we share a vision for making the global money transfer landscape simpler and more inclusive”.

The deal also entails that Paysend customers have access to multi-currency wallets, which let users hold up to 34 currencies in the same app. Paysend customers will also access payments via the Swift network adding further choice to Paysend’s global coverage. 

Paysend is 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. 

Currencycloud will also be supporting Paysend on the launch of new consumer-facing products and services scheduled for release in late 2024.

Piers Marais, Head of Product for Currencycloud, added: “Remittances are a vital cross-border flow that well exceed even international aid budgets. Paysend bringing their technology and expertise into this space is a huge boost for the sector, and we’re proud to be on the growth journey with them”.