Paysend, the UK-based fintech with over seven million customers, today announces a partnership with global payroll on-demand and vendor management platform Transformify, enabling businesses to better manage their vendors and international payroll on-demand services.
Transformify provides B2B employment services, including vendor management, temporary staffing, compliance and payroll on-demand services in over 184 countries worldwide.
Paysend will power Transformify’s new payout-to-cards capability for vendors and contractor payroll on-demand. This will enable Transformify’s business clients to pay their remote employees directly to their Visa or Mastercard and at a low cost through the Transformify platform.
To make use of the Paysend platform, contractors simply need to supply their full name and bank card number, and businesses will be able to pay them instantly and directly to their bankcards, using Mastercard or Visa rails. This process avoids incurring SWIFT and intermediary bank fees, and 90% of transfers arrive in 15 seconds or less.
Taras Paseshnik, global product manager from Transformify welcomed the partnership, saying, “The new pay-to-card solution is a breath of fresh air for those payees who are not familiar with international bank payments and industry-specific terms like SWIFT, IBAN and routing numbers. Transformify users need to provide only the number of their card and the payment arrives in seconds.”
Alex Budyakov, head of enterprise and network partnerships at Paysend, added, “We are delighted to welcome Transformify to the Paysend group, bringing accurate and safe real time payments services to contractors in over 184 countries. Our market leading technology sits well with the Transformify (TFY) brand, removing country barriers in freeing up the best talent for growing businesses.”
