- A senior figure at Paysend shared a number of thoughts in an update published on the firm’s website.
- Alexander Budyakov, the firm’s Enterprise Business Executive, used the opportunity to discuss Paysend’s view on speed, business payments and APIs.
- “Anticipated payments growth is being driven by businesses going global to grow their addressable markets,” he said in the remarks.
Paysend, a provider of fast money transfer services, has revealed that it is holding its focus on financial services.
Alexander Budyakov, the firm’s Enterprise Business Executive, used the opportunity to discuss a range of topics, including the speed with which payments can be made. He pointed out that affordability was a key part of this, as well as speed.
“To operate efficiently, larger businesses must also be able to transact quickly, efficiently and affordably with a number of different stakeholders,” he explained.
He added that market research appeared to indicate that instant payments were likely to become more common as time passed.
“A recent survey showed that 97% of respondents believe there will be a shift towards more real-time payments in the near future,” he explained.
He also said that firms were hoping for development when it comes to their payment processes.
“Part of this shift is being driven by new business expectations on their payment systems,” he explained.
Its service, Paysend Enterprise, is designed to allow firms to make online money transfers to a number of destinations, including accounts and bank cards. Its API permits smart transfers. Reports said that transfers of up to $100,000 incur a fee of just $1.
The latest release from the senior figure at Paysend comes after an announcement last November that it was launching a new service called “Paysend Libre”.
This is designed to improve financial inclusion in the northern Central America region, which is a key market for a number of players in the online money transfer sector due to the high density of lucrative payment corridors centered on it.
In further remarks, Budyakov also referred to the need that many firms have to get involved in “unlocking new markets”.
He pointed out that a significant chunk of the business community are expecting international transactions to grow in necessity.
“Anticipated payments growth is being driven by businesses going global to grow their addressable markets,” he said.
He added that older financial systems had held things back in this regard.
"Historically, traditional financial services have limited this ability for businesses due to significant barriers to entry in terms of financial resources, currency and regulatory considerations,” he explained.
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