In a bid to enhance financial inclusion in Mexico, Paysend has introduced Paysend Libre, supported by Mastercard. This initiative focuses on offering the underbanked population access to digital financial tools through a zero-fee online remittances platform.
Key Features:
- Remittances for Financial Inclusion: Paysend Libre allows users to make zero-fee transactions using just the recipient’s phone number via the “Libre” section of the Paysend app.
- Instant Transfers: Transactions are processed in real-time, making it a fast and affordable solution for overseas remittances.
- Global Accessibility: Paysend Libre is particularly beneficial for millions of users in the USA and Latin America, enabling efficient cross-border transfers.
Collaborative Efforts:
- Jairo Riveros, group head of strategy at Paysend, emphasized that this partnership with Mastercard is breaking new ground in using remittances as a tool for widening financial inclusion.
- Kiki del Valle, division president of Mastercard North, highlighted the growing preference for digital solutions to send money securely, noting that a Mastercard virtual card allows users to participate in the digital economy and make payments at over 100 million merchants worldwide.