By enabling U.S. clients to send money to Latin America swiftly, securely, and for a low cost through transfers to bank accounts, Paysend, the card-to-card industry pioneer and international payments platform, is cementing its money transfer services to that region. From 2022 on, US clients will be able to send money to friends’ and family’s bank accounts in Bolivia, Colombia, Peru, Uruguay, Brazil, Chile, and Argentina in addition to the Dominican Republic, Haiti, Jamaica, and Mexico.
Paysend’s Jairo Riveros, the company’s title, said, “We at Paysend understand that remittances play a significant role for our customers in supporting their loved ones.” Because they are used to pay for necessities like food and housing, transfers of funds have a greater impact in the current macroeconomic climate. We make it simpler and more affordable for our customers in the United States to send money back home when their loved ones need it the most by providing card-to-card, card-to-bank, or card-to-digital wallet transfers.
Developing Latin American Communities Without Bank Accounts
Currently, 70% of people in Latin America are either unbanked or underbanked. Paysend has stepped in to offer low fee, quick, and secure transfers for the community as current economic pressures have made it more challenging to send money, with a mission to improve financial inclusion across the globe and support migrants looking to send money home.
After the introduction of Paysend’s Paysend Libre solution, which was powered by Mastercard Send technology last year, this expanded offering is now available. Unbanked recipients in Northern Central America (i.e., Guatemala, Honduras, and El Salvador) can instantly receive and use funds from the US through a digital card thanks to Paysend Libre.
Paysend, a global end-to-end payment platform, has partnerships with Visa, Mastercard, and China Union Pay in addition to a robust global payments network.
