Paysend is teaming up with TelevisaUnivision to boost its drive to provide simple, instant money transfers to Latin American markets.

As part of the partnership, TelevisaUnivision will become a shareholder in Paysend. The aim is to help the brand scale its presence with US Hispanics and Latino’s globally. Specifically, the partnership will leverage TelevisaUnivision’s reach and media assets.

The US/LATAM market is a top priority for global card-to-card transfer and global payments platform, Paysend. Serving the 62 million Hispanic population based in the US represents 20% of the overall population.

For Spanish-language content and media company, TelevisaUnivision, the partnership reinforces its commitment to empowering its audience with the tools they need to stay connected to their families and communities, no matter where they are.

Currently, a significant population in Latin America is unbanked. But this segment of the market still relies on money being sent from family members that have migrated to the US. Without a bank account, they have little option but to use expensive, time-consuming, and unsafe methods to send and receive remittances.

TelevisaUnivision deals reinforces Paysend commitment to financial inclusion

Paysend says that its commitment to financial inclusion now brings a safe and affordable alternative through its instant card-to-card offering. With this partnership, TelevisaUnivision joins Paysend’s mission to make money transfers simple and accessible to everyone.

The partnership will allow Paysend to expand its global reach and further develop its technology. This makes it easier for users in the US to send money to families and businesses in Latin America.

UK-based Paysend launched in April 2017. Paysend currently supports cross-network operability globally across Mastercard, Visa, China UnionPay and local ACH and payment schemes. It currently overs over 40 payment methods for online SMEs.