The Silicon Review
Finance plays an important role in almost everything, be it in a business or in a person’s daily life. Money, as we understand, goes way beyond what most of us think about. People must start to think about their financial choices from a much broader perspective. This way, people can think beyond just doing their daily job and earning money. People interested in managing their daily finance must have their future financial goals in mind so that they can face unexpected financial challenges, responsibilities, and opportunities. Managing personal finance is essential because it can also help in increasing cash flow. When people keep track of their expenditure and spending pattern, they can easily increase their cash flow. Today, thanks to digital technology, everyone can manage their money in a much more secure, efficient and seamless way because of the opportunities given by Fintech companies.
In that space Paysend stands out from the rest. Paysend was founded in April 2017 with a vision to change the way people manage their everyday finances. Paysend was started by a team of experts from the banking and payments segment who developed and then integrated a whole set of skills to develop a fast-growing digital only service with an impressive set of products like Paysend Global Transfers, Paysend Global Account and Paysend Business (designed for B2B). Each of these is designed to respond to a specific need of a customer (private or business) with the aim to support them in managing their financial needs most simply and efficiently. Paysend’s vision is to create a borderless, instant, and convenient end-to-end payment infrastructure to connect millions of people worldwide.
In conversation with Ronnie Millar, Co-Founder and CEO of Paysend
Q. How does Paysend enable seamless international money transfer?
Paysend currently supports connections between 12 billion cards globally across Mastercard, Visa, China UnionPay, and local card schemes in multiple countries across the globe. We operate in 55 countries worldwide and have a network of over 110 receiving countries. Paysend currently serves nearly 3.5 million customers globally and over 135,000 SME’s and is rapidly growing its customer base by the day. Our unique card to card digital payment service is allowing us to manage a high number of transactions with extreme efficiency worldwide.
Q. How important are your partnerships with Mastercard, Visa, China UnionPay and the global banking network?
They are a fundamental piece of our business model in order to grow the global outreach in the most efficient way. As a global end-to-end integrated payment ecosystem Paysend has its own global network of banks, international and local payment systems and partnerships with the major international card networks like Visa, Mastercard and China Union Pay as a principal member and certified processor. We recently opened our Canada and US operations and secured a partnership with Alipay in China in order to grow our global footprint.
Q. What changes has Paysend made to improve its services during the COVID-19 pandemic?
We worked at multiple levels to ensure the people and the businesses were immediately safe and could keep working in the most effective way. Wesecured smart working for all our employees around the world in less than one week and immediately acted to create multiple programs of free money transfers for several countries and corridors, including donations to hospitals in China and Italy, which were the first most affected countries. People and customers are our most precious assets, and we did all that was possible to protect them.
Q. Paysend is known for its stellar customer service. How do you maintain the quality of customer service?
We have a model based on three main pillars:
Q. What are the drivers of success for Paysend?
We believe the success of Paysend is in the mix of 3 ingredients. Vision, Technology, and People. Our growth has been fast and exciting. We’ve welcomed nearly 3.5 million customers and over 135,000 Businesses to date in the space of a few years and we’ve more than doubled in size since March 2020. Paysend’s ambition is to build a high-performance organization delivering amazing value to all customers, private and business. We want to become a global leader in FinTech product innovation and the fastest-growing FinTech in the world. At Paysend we’re building Money for the Future and crafting the Future of Work by building a high-performance culture and a great workplace. We’re looking for optimists who want to unlock their potential by becoming game-changers who set themselves crazy big objectives. We encourage ownership, excellence in execution, and personal growth. Our team achieves this through vision, collaboration, and a strong work ethic. That is why we are always looking for people who are Entrepreneurial, Curious, Talented, Optimistic, Passionate, and champions of Diversity to be part of the journey of creating money for the future. Ultimately, our vision as a global leader is to develop the next generation of integrated global payment ecosystem to save time, save money and serve millions. We want to do it through our team’s passion and talent, which is growing by the day with an approach that is always looking at opportunities to improve, learn, and move on. We feel like explorers of the digital world, and we love it!