Paysend and JMMB Money Transfer partner to make payments to Jamaica
By Edlyn Cardoza
- Cross Border Payments
- Deposit-to-account Transfers
Paysend, the UK-based FinTech company with over 8 million customers, announces a technology partnership with JMMB Money Transfer, a subsidiary of JMMB Group, to provide secure and affordable deposit-to-account transfers to family and friends in Jamaica. Jamaicans can now receive remittances from their loved ones in the UK, USA, and Canada via the Paysend App.
“This partnership between JMMB Money Transfer and Paysend will encourage users all over the globe, namely the UK, USA, and Canada, to connect across borders and send money to support loved ones in Jamaica,” said Alex Bessonov, Group Head of Network Development and Strategic Partnerships at Paysend. “They will experience more affordable rates and quicker processing speeds when sending remittances. Through Paysend’s easy-to-use app, automated phone number, and text ID verification, users can benefit from a quick and simple onboarding process, allowing them to make transfers through the Paysend platform immediately.”
In Jamaica, family and friends can access the funds sent via bank transfer on the same day conveniently and securely. Additionally, this payment method gives Jamaicans receiving funds from Paysend the added convenience of using an ATM at any time to access their money, or they may opt to make online purchases or payments. Senders will benefit from low fixed fees, upfront exchange rates, fast transfer speeds, and the ability to make instant, digital end-to-end international payments.
Sharon Gibson, CEO of JMMB Money Transfer, said, “We are happy to forge this partnership with Paysend, as it gives Jamaicans in the diaspora more seamless and safe options to send money to family and other loved ones. This move is synonymous with JMMB’s promise to deliver value-added service that improves our clients’ experience. The Paysend partnership embraces innovative technology to deliver convenient and affordable services to our clients.”
“This partnership is in line with our strategic focus to further deepen our market share through our international partners in major source markets to meet the increasing demand for our services across the world,” Gibson continued.