Paysend debuts global account
Payments firm Paysend has unleashed its beta programme for its new global account service.
Built by a team of ex-Revolut engineers and designers, the account is a mobile app that allows people to hold, move and spend multiple currencies globally.
Ronald Millar, Paysend CEO, says: “We are continuing to define what money of the future is: money without borders.”
The firm explains that when a customer touches down in a new country, they can link the card to the currency of their choosing and pay like a local – “without fees or hidden transaction costs”.
Users are able to hold multiple currencies in their account, with support for US dollars, British Pounds, as well as cryptocurrencies such as Bitcoin.
The beta will roll out gradually over the coming months, with a waiting list opening today (12 September).
The global account uses Paysend’s existing card processing infrastructure, licence agreements and its direct relationships with Visa, Mastercard and UnionPay. The company says it has over 200,000 existing customers using its products.
Back in July, Paysend closed a $20 million funding round to roll out the account along with other new services.
In our PayTech Awards 2018, Paysend won Best Cards Initiative with its global account.