NEWS
Paysend expands bank account transfer capabilities to Latin America
Paysend , a card-to-card pioneer and international payments platform , is solidifying its money transfer services by enabling US customers to send money to Latin America quickly , securely and for a low fee through transfers to bank accounts .
Since launching transfers to bank accounts in the Dominican Republic , Haiti , Jamaica and Mexico in 2022 , US customers can transfer money to Bolivia , Colombia , Peru , Uruguay , Brazil , Chile and Argentina .
Today , 70 % of the Latin American population remains unbanked or underbanked . With a mission to improve financial inclusion worldwide and support migrants to send money back home , Paysend has stepped in to offer a low fee , fast and secure transfers for the community as current economic pressures have made it more difficult to send funds .
The expanded offering came with Paysend launching its Paysend Libre solution powered by Mastercard Send technology last year . With Paysend Libre , unbanked recipients located in Northern Central America , such as Guatemala , Honduras and El Salvador , can receive and utilize funds from the US instantly through a digital card .
As a global end-to-end payment platform , Paysend has a strong global payments network that includes partnerships with major international card networks , including Visa , Mastercard and China Union Pay .
Pay-as-you-go subscription models enjoy growth
According to the Latin America
Everything as a Service ( XaaS ) Market 2023 – 2030 report , the region is estimated to progress with a compound annual growth rate of 19.08 % during the forecast period 2023 – 2030 .
Cloud usage is soaring at a rapid pace in Mexico , with approximately 84 % of businesses employing a cloud-based service . Several industrial sectors have shifted to the cloud platform in recent years to streamline operations . blockchain solutions to accelerate their business growth in Argentina . For instance , IBM invested around US $ 15 million in the country ’ s startups and institutes to increase technological transformation .
Google also plans to launch its engineering centers in Argentina to keep pace with its cloud rollouts . Such strategic steps expect to create demand for data-driven technologies , thus powering the Everything-as-a-Service market ’ s development .
The Latin America Everything as a Service ( Xaas ) Market 2023 – 2030 report has been added to ResearchAndMarkets . com ’ s offering .
As per estimates , many enterprises are considering using Artificial Intelligence ( AI ) and Machine Learning . Further , several companies like Microsoft have announced investment plans to accelerate Digital Transformation in the country . Therefore , these developments accelerate the XaaS market ’ s expansion .
Similarly , multiple companies have increased investment in AI , could and
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