Paysend, a UK-based FinTech, has teamed with Currencycloud to expand the capabilities of its business solution.
Paysend Business is the firm’s new digital end-to-end payments solution created to help SMEs take control of their financial health and accelerate their growth.
According to FinTech Finance, the company’s newly launched business product is integral to the firm’s goal of making money movement around the world easier for SMEs.
Paysend Business attempts to remove the complexities SMEs face when making international payments, providing them with access to a suite of international payment options including SWIFT, local payment rails and payments to cards all from one platform.
The firm claims its partnership with Currencycloud allows Paysend business to offer SMEs a much more efficient and transparent way of making cross-border transactions.
Using Currencycloud’s APIs, Paysend Business’ SME clients can receive funds by SWIFT and collect and hold up to 34 currencies with ease. They can seamlessly convert these funds back to the required currency at competitive FX rates.
Currencycloud chief revenue officer Nick Cheetham said, “The launch of Paysend Business shows how committed Paysend is in opening up international markets to SMEs. Like Paysend Business, we are committed to making finance accessible to businesses of all sizes and this new product makes global expansion a reality for SMEs.”
Paysend Business head of product Richard Armstrong added, “Businesses are looking for a one-stop solution that meets all their domestic and international payment requirements efficiently and securely. With the benefit of access to a full range of multi-currency accounts, businesses working with Paysend can scale their international operations quickly and securely.”
Currencycloud recently teamed with Future FinTech Labs to launch Tempo, a remittance app, to offer US-based immigrants a simpler way to send money.
According to Currencycloud, FTFT Labs can provide its customer with a multi-currency wallet that makes sending money to countries across Europe, North America and Asia easier and more cost-effective than many remittance services who charge high fees per transfer.
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