A team of ex-Revolut engineers and designers are behind Paysend, an international payments and money transfer company which has announced the beta programme for its new Global Account mobile app service.
Ronald Millar, CEO, says “This is another great first for our team. They have created an award winning (they picked up a ‘best cards initiative’ gong at the recent Paytech Awards) product that changes how consumers can control and spend their money. We are continuing to define what money of the future is: money without borders.”
When a customer touches down in a new country, they can instantly link their Paysend card to the currency of their choosing and pay like a local, without fees or hidden transaction costs. They’re able to hold multiple currencies in their account, with support for anything from US dollars to British pounds, as well as cryptocurrencies such as Bitcoin.
Paysend says that it has over 200,000 existing customers using its products. The Global Account beta will roll-out gradually over the coming months, with a waiting list now open. Early access users will be able to send feedback directly to the product team.
The Global Account utilises Paysend’s existing card processing infrastructure, licence agreements and its relationships with Visa, Mastercard and UnionPay. Alex Murashko, Product Lead for Global Account, says: “In today’s global world, we all have mobile-first, busy lives. We’re building a simple money app for a new digital generation of people. Our product was designed to create a clear, calm experience for the customer whilst giving them complete control of their money.”
Funding
Paysend recently closed a $20 million funding round to roll-out the Global Account along with other new services and claims a three-fold increase in users over the last six months. The venture is FCA regulated in the UK and is an acquiring and issuing member of Mastercard.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.