Paysend Now Available to All Canadians After Successful Beta Phase

Distributed by Business Wire
9th September 2021

CALGARY, Alberta–(BUSINESS WIRE)–Paysend, the next-generation payment platform enabling customers and businesses all around the world to pay, hold and send money online anywhere, anyhow and in any currency, is now available to all Canadians.

After completing a successful beta phase, Canadians can now use Paysend to send money internationally to over 120 countries. Featuring a quick and efficient on-boarding process, Paysend offers fast transfers, competitive exchange rates, and low and transparent fixed fees (only $3), making it a great solution for Canadian immigrants, students, temporary workers and expats. Canadians can also now receive more funds in their bank accounts, working with over 250 participating financial institutions with the ability to receive up to $10,000 CAD to a bank account in Canada.

“Canada is among the most immigrant-reliant advanced economies in the world,” said Ronald Millar, CEO, Paysend. “Currently, net migration accounts for more than 80% of Canada’s population growth, with many of these individuals regularly sending money to their families back home.”

Mr. Millar added, “Launching Paysend in Canada marks a major milestone in our global expansion initiatives. We are proud to provide Canadians with tools that make taking care of their families, even when they are apart, seamless and simple.”

Earlier this year, Paysend secured $125 million in a Series B funding round to accelerate the company’s global expansion. The company is changing the way people manage their money on a global scale. Paysend does this through the power of its technology and the passion of its team. The company offers solutions that are safe, fast, convenient and smart, and simplify the complexities of money so customers can focus on the things that really matter.

“At Paysend, we believe that money matters,” said Timur Shomansurov, Country Manager of Paysend in Canada. “Our customers work hard to earn money for themselves, their friends and families, but earning money is hard and saving it is even harder. Helping people is at the heart of what we do. Together, our team is committed to a shared mission – saving our customers time and money, and creating money for the future. We look forward to making these options available to all Canadians and providing a cost-effective money transfer service that is both convenient and accessible.”

About Paysend

UK-based Paysend is a global FinTech with an international team of talented specialists who work hard every day to develop a world-beating payment ecosystem that supports customers in a fast, safe and smart way. Paysend connects millions of people with their families and communities around the world through secure, instant money transfers. With its supreme technology, advanced infrastructure and global network of partners, Paysend has become a global community that’s growing by the day. For more information, visit www.paysend.com.