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Paysend, the UK-based fintech business, has expanded its global reach by launching its money transfers service to Turkey. Customers will be now able to transfer money to any bank account or card issued in Turkey.
“Launching our Global Transfers service in Turkey is another step in the right direction for Paysend. We continue to open new money transfer markets and extend our reach globally,” said Ronnie Millar, Paysend CEO.
Turkey is an important market for global money transfers in Europe and Central Asia. Foreign workers and international students send more than $1bn (US dollars) to Turkey each year, according to the World Bank.
“Very often these transactions are life changing for those who send and receive them. We want to support these people by making what was once laborious, slow and expensive, simple quick and low cost,” added Millar.
Paysend continues its worldwide expansion, having also recently extended Global Transfers to Japan, South Korea and Uzbekistan. Launched just two years ago, the company’s card-to-card global money transfer service, now has over 1.3 million users. Paysend can send funds 80 countries worldwide.
Paysend charges the same transfer rate, regardless of whether it is buying or selling a currency. This means Paysend has the lowest money transfer fees on the market: £1 from the UK or €1.50 from Europe.
