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.
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.