PAYSEND

Paysend is a global financial technology company, founded in April 2017 by fintech veterans Ronnie Millar, Abdul Abdulkerimov, and Mikhail Aman. The firm was established to simplify cross-border money transfers, which were often hindered by the complexity of traditional banking systems. The company's initial product, Global Transfers, pioneered card-to-card transactions using just a recipient's 16-digit card number, bypassing the need for IBANs or SWIFT codes.

Paysend operates a dual-sided business model serving both individual consumers and enterprise clients. For consumers, the Paysend mobile app allows for international money transfers to over 170 countries. The company's revenue model for this segment is based on a flat transaction fee and a small, visible margin on currency exchange rates. This approach targets migrant workers, international freelancers, and students who require fast, low-cost remittance services.

For businesses, Paysend offers an enterprise-level platform that provides its proprietary payment infrastructure through an API or as an embedded, white-label solution. This B2B offering includes multi-currency accounts, batch payouts, and payroll tools for small to medium-sized enterprises (SMEs) and larger corporations. A key feature for enterprise clients is the Instant Settlement Accounts (ISA) product, designed to address the challenge of trapped working capital.

The company has built its own holistic payment infrastructure, which includes a multi-jurisdictional license footprint and a full stack of proprietary systems for processing, FX, orchestration, and settlement. As a principal member and certified processor for Visa, Mastercard, and China UnionPay, Paysend has created an interoperable network connecting billions of digital endpoints. This vertical integration gives it control over speed and cost, with most transfers settling in minutes. The company has seen significant growth, reaching 10 million consumer customers by early 2025 and generating over $100 million in annual revenue.

Keywords: cross-border payments, international money transfer, remittance, payment infrastructure, fintech, card-to-card transfers, enterprise payments, instant settlement, global payments network, multi-currency accounts, B2B payments, SME payments, payment processing, foreign exchange, digital wallet, white-label payments, payments API, financial inclusion, low-cost transfers, payroll solutions