FinTech

Paysend is a global FinTech company that supports millions of people around the world to send money and manage their daily finances in a way which is simple and smart. The company's seamless payment ecosystem allows businesses and consumers to hold, spend and send their money safely and conveniently on a global scale. Paysend is on a mission to disrupt the world of digital money with innovation and simplicity.

Paysend was founded in April 2017 with the vision to remove visible and invisible barriers when money is moved around the world. It was set up by a group of enthusiastic FinTech specialists who wanted to use the most advanced technology to change the way people transfer money globally.

Pioneering International Payment Systems

In just over three years, Paysend has been able to grow a community of over 2.8 million customers who can send money to over 90 countries around the world, and has become recognised across the industry for its technological excellence. Paysend was the first FinTech provider to introduce international card-to-card transfers, connecting 12 billion cards issued by the international payment systems Mastercard, Visa and China Union Pay, as well as local cards schemes.

Paysend's partnerships with Mastercard, Visa, UnionPay and a global banking network allow them to offer a fast, simple, and affordable way of sending money to credit cards and bank accounts, 24/7.

Paysend has been honoured with several awards including an award from Mastercard in 2019 for being in its top tier for processing quality. Additionally, it received PayTech 2018 Awards for Best Consumer Payments and FinovateSpring 2018 for Leading FinTech Product.

Innovative Entrepreneurs

Paysend was founded by Abdul Abdulkerimov (Founder & Chairman), a serial FinTech entrepreneur with a wealth of experience and success in the field of card-to-card payments, and Ronald Millar, an experienced entrepreneur who has been working for the past 20 years across the services, pay-TV, SaaS and FinTech industries. Both shared the same frustration of payment systems being slow and expensive, and decided to change that with a team of skilled talent from all over the world.

Providing Secure and Seamless Transactions

The money transfer element of Paysend uses unique card-to-card technology which allows transfers to be made securely and seamlessly. The company is the only market provider to offer this globally, aiming to provide the simplest customer experience to its customers in a way which is fast, safe and convenient, and with a global mindset.

Using Data Analytics to Predict Customers' Behaviour

Paysend uses advanced big data and analytics to track its customers' behaviour, enabling the company to help its community in a personal, effective and specific way. Paysend’s innovation model is based on three blocks: advanced technology, a global network of partners, and an efficient customer acquisition model which can reach and engage with a wide range of customers.

Influencing People with Disruptive Technologies

Paysend sees two main challenges ahead. In both its B2C and B2B divisions, it is essential to keep developing the technology in a way that keeps Paysend at the forefront of the industry, and build a brand around strong functional and emotional values. The company aims to be known for having first-rate technology that can positively impact the lives of people through (for example) a single app where the user can manage all of their daily finances.

People at Paysend believe that money is not just about fulfilling a need, but about connecting people who live far away, meanwhile supporting communities. This was achieved 2020 with dedicated support projects for China and Italy as the pandemic began to take its grip on the world.

As an example of Paysend's strategy, reducing the cost of transfers from the average of 7% to 3% could liberate billions of dollars every year to be invested in education and healthcare in local communities around the world.

Offering a More Integrated Platform

The current global trend within FinTech is that the coronavirus pandemic has accelerated the shift to digital money. The market will keep growing, and many more people will be using digital money; the challenge for Paysend is to distinguish its offering in a way that builds its customer base, focusing on loyalty as well as economics.

The company has began to initiate a sustainable profit trend, and plans to keep this growing in the future as Paysend expands its customer base. Paysend’ digital money services will evolve by continuing to give customers an increasingly integrated and seamless platform where users can satisfy all of their daily financial needs.