Money transfer platform Paysend has introduced a new service, which requires only the recipient’s mobile phone number to make cross-border remittances.
All registered customers using the firm’s website or mobile app can gain access to the service dubbed PaySendLink.
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The new service will enable recipients to view the incoming transfer and direct it to Visa, MasterCard, UnionPay card or a bank account.
PaySend CEO Ronald Millar said: “Besides being super convenient for the sender, PaysendLink also puts recipient’s worries at ease – they don’t have to send any personal information to a sender, only provide their phone number. Their personal information is entered directly into our secure platform.
“This sets a new standard when it comes to security and safety of customer data and financial information shared across borders. What’s more – it’s a recipient who decides where he wants to direct the incoming transfer to – their bank account, debit or credit card.
“Our partnership with major card schemes allows us to deliver money using Visa, MasterCard and China UnionPay in a fast, simple and secure way.”
Paysend enables users to make fund transfers from card to card. Last year, the firm raised $20m in a funding round led by investment firm MARCorp Financial.
