Type to search

News

Paysend Global Transfer hits 2 million customer milestone despite COVID-19 slowdown

UK-based FinTech company Paysend today announced that it has reached the 2 million customer mark for its flagship Global Transfers service. Having been founded in April 2017, Paysend has raced to the milestone in just over 3 years, and the company’s growth rate is continuing to increase – the 1 million customer mark was reached in Sept 2019 and 1.5 million recently in March 2020.

“Paysend was born with the vision of becoming the leading end-to-end payment ecosystem and being one of the foremost service providers in the huge money transfer market,” Ronnie Millar, CEO of Paysend said. “The fusion of excellent technology, a strong global network of partners and a seamless consumer interface have allowed us to achieve this quickly.”

During the COVID-19 crisis Paysend saw a strong acceleration on all measures. Volume grew +90% from February to June 2020, transactions went up +70% and active users by 65% given by the reach of its unique technology to give customers an efficient service during lockdown.

Paysend operates in more than 45 countries worldwide and allows customers to send money to over 90 countries. It was the first FinTech company to allow users to send money using just a recipient’s name and card number – Paysend’s unique card2card transfers ‘signature’.

“Our vision is to create a better-connected world in which people have instant, borderless and affordable means of sending money home digitally,” Mr Millar added. “2 million customers is a big milestone, but honestly is just the beginning of a bigger challenge – to keep growing and bringing the power of digital money to every segment of society: expats, travellers, small merchants and more. We recently launched our Global Account and our B2B Connect service and they are also both growing very rapidly.”

Money transfers have spent a large amount of time in the FinTech spotlight this year given travel restrictions and limited access to financial services, and Paysend has been one of the businesses to step up to the mark and deliver services that combat these problems. Over 11,000 reviews have now been left on Paysend’s Trustpilot page, with 89% of reviewers leaving a 5-star ‘excellent’ score.

Tags:

Next Up