Paysend Launches Instant Cross-Border Payouts to China UnionPay Cards

Revolutionizing Cross-Border Transactions

UK-based fintech innovator Paysend has unveiled a game-changing feature for its Enterprise customers: instant cross-border payouts to China UnionPay cards. This new capability not only enhances the payment experience but also significantly streamlines financial operations for businesses dealing with the complexities of international transactions.

Empowering Businesses with a Unified API

By introducing direct transfers to UnionPay cards, Paysend empowers enterprises to leverage its single API for seamless cross-border transactions. Currently, businesses rely on various payment networks, including Visa and Mastercard, to reach over 165 countries. With the integration of UnionPay, Paysend aims to simplify and expedite the payout process. Companies can now embed UnionPay payouts into their workflows, benefiting from real-time foreign exchange (FX) rates and instant notifications, ensuring that payment needs are continuously met.

Addressing Payment Challenges

The decision to launch this service stems from the intricate challenges businesses face when transferring funds to China. The limited support for UnionPay cards often results in delayed transactions, soaring costs, and operational headaches. Paysend’s innovative solution directly tackles these issues, making it easier for organizations to navigate the payment landscape.

Benefits of Paysend’s Enterprise Feature

With the new functionality, Paysend’s customers can expect instant and secure payments to China, significantly reducing transaction times and costs. By integrating UnionPay into their existing systems through a single API, businesses no longer need to juggle multiple payout partners, allowing them to allocate time and resources more effectively. Current customers can immediately benefit from this feature, while new users can easily access the Enterprise sandbox, review comprehensive API documentation, and test with pre-configured mock cases, supported by dedicated integration assistance.

Commitment to Global Reach

Paysend’s latest expansion underscores the company’s dedication to equipping customers with an expansive network and cutting-edge global reach. This initiative is part of a broader mission supported by a recent USD 65 million capital injection, secured in November 2023. With these funds, Paysend is poised to accelerate its development and growth trajectory, focusing on providing secure, efficient tools that cater to the evolving needs of its clients.