Paysend and Currencycloud sign major global expansion deal

The deal sees Currencycloud boost Paysend’s FX and treasury capabilities, becoming a key partner of cross-border money movement.

Currencycloud, experts simplifying business in a multicurrency world, and Paysend, a global fintech leader in international money transfers, have announced a major expansion to their longstanding partnership that will see Paysend expand its services around the world. 

Following the deal, Currencycloud has become a key partner of cross-border money movement flows for Paysend across the US, EMEA, and Asia-Pacific.

It also means that Paysend customers now have access to multicurrency wallets, which let users hold up to 34 currencies in the same app. Paysend customers will also access payments via the Swift network adding further choice to Paysend’s extensive global coverage.

Paysend is also significantly expanding its remittance offering in the UK, EU, Canada and the USA, drawing on Currencycloud’s experience working with digital remittance firms that offer cheaper, fairer and more transparent services than traditional suppliers. Paysend customers in those regions will be able to send remittances to over 180 countries around the world via Swift and local payment networks.

Currencycloud will also be supporting Paysend on the launch of new consumer-facing products and services scheduled for release in late 2024.

Ronnie Millar, chief executive officer and co-founder of Paysend, said: “We’ve worked with the team at Currencycloud for several years now and our partnership keeps going from strength to strength. I believe the secret to our success together is that we share a vision for making the global money transfer landscape simpler and more inclusive”.

Piers Marais, head of product for Currencycloud, said: “Remittances are a vital cross-border flow that well exceed even international aid budgets. Paysend bringing their technology and expertise into this space is a huge boost for the sector, and we’re proud to be on the growth journey with them”.

Images: Currencycloud, Paysend

Robert Welbourn Robert Welbourn is an experienced financial writer. He has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.