The way consumers request and receive payments from each other is changing, thanks to payments disrupter PaySend.
The business’s new innovative service will allow users to request money transfers using just the sender’s phone number, and will allow the transfer to be directed to any card provided by the recipient.
With the new service the family or friend of a PaySend customer overseas can ask them to send some money to their card, and after receiving a request the PaySend customer can send the requested amount directly to a recipient’s Visa, MasterCard or UnionPay card.
Ronald Millar, CEO of PaySend, said: “We are excited to launch this innovative product and offer even more choice for our customers so they stay connected wherever they are. In many cases people in the developing economies depend on their friends and relatives working abroad so now they can always reach out to them when they find themselves a bit short of money. The only thing they need to provide is a sender’s mobile number and PaySend’s unique money transfer platform makes sure they get the money they need.”
As PaySend is the only global card-to-card money transfer network, consumers benefit from the business’s ability to move funds, bypassing the traditional banking system and eliminating all the inefficiencies associated with a slow speed of delivery, high foreign exchange rates and correspondent banks’ fees.
The service is available to any registered customer via the company’s website or mobile app.
Ronald added: “We are building a global Fintech brand and our partnership with major card schemes allows us to deliver money using Visa and MasterCard in a fast, simple and secure way. Sending money from card-to-card is the new innovative way of sharing value across borders and PaySend is pioneering this space by bringing our customers both in Europe and overseas an unrivalled convenience and peace of mind”.