PaySend Plc (United Kingdom) is an electronic money institution authorized and regulated by the Financial Conduct Authority. PaySend is focused on international money transfers. The company offers transfers to bank accounts, transfers to card accounts, money requests, personal e-wallets, business IBAN accounts, payment cards, card acceptance to natural persons, companies. In 2023 PaySend Plc had total assets of 52.91 mln GBP, and generated net income of 1.45 mln GBP. During 2023 the company had 6 employees in average.
International money transfers
Transfer money to over 170 countries
Transfer fee and receivable amount are displayed beforehand
Money transfers are sent within seconds to your recipient’s bank
Global 24/7 support
Deliver money to 170 countries worldwide
(*)as stated by the company itself
13 August 2024, by Anna Mileiko
TheBanks.eu has developed a proprietary methodology to assign ratings to payment institutions based on their operating environment, company background, business model, market niche, product range, transparency, customer support and customer sentiment. According to the methodology, PaySend Plc is assigned the overall rating 4.24 (excellent) which is explained in details below.
Operating Environment | Very Friendly | (4.81) |
Product Range | Broad | (3.81) |
Market Niche | Average | (2.86) |
Company Background | Strong | (4.16) |
Customer Support | Average | (2.67) |
Customer Sentiment | Excellent | (4.47) |
Transparency | Very High | (4.42) |
Overall Rating | Excellent | (4.24) |
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TheBanks.eu has also identified the following pros and cons of the company:
Hold, send and spend your money in one simple app
Global Account is a multi-currency account, allowing the account holder to have funds in the following currencies:
MasterCard cards can be ordered together with Global Account. Only plastic cards can be ordered, virtual cards are not available.
Corporate Account is a multi-currency account, allowing the account holder to have funds in the following currencies:
A payment card can be ordered together with Corporate Account. Virtual cards are not available.
Dedicated IBANs assigned to Corporate Account belong to the United Kingdom.
Corporate Account is offered to all countries.
Corporate Account is offered with a single pricing plan for all customers.
PaySend offers money transfers between more than 70 countries in more than 20 currencies. Money can be sent from debit cards, credit cards and received to bank accounts, debit cards. Transfers made with PaySend are usually completed within 0-3 days.
PaySend is neither registered with the Financial Conduct Authority (FCA) as a crypro asset firm, nor offers any crypto assets services. PaySend Plc does not conducts any crypto-related activities.
From January 2020, firms carrying out specific cryptoasset activities in the United Kingdom need to comply with the amended Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs) and to register with the FCA.
PaySend Plc is not registered with the FCA as a crypro asset firm.
PaySend do not offer crypto assets services.
GBP | 2022 | 2023 | change (%) |
---|---|---|---|
Total Assets | 64,721,000.00 | 52,914,000.00 | -18.24% |
Turnover | 57,717,000.00 | 29,073,000.00 | -49.63% |
Gross Profit | 10,251,000.00 | 3,221,000.00 | -68.58% |
Net Income | 2,939,000.00 | 1,454,000.00 | -50.53% |
Rank | Name | Market % | Total Assets |
---|---|---|---|
45 (+15) | Taptap Send UK Limited | 0.20 % | 78.71 mln USD (+116.22%) |
46 (-3) | PaySend Plc | 0.20 % | 64.72 mln GBP (+14.83%) |
47 (+35) | Euro Exchange Securities UK Ltd | 0.20 % | 64.23 mln GBP (+353.27%) |
PaySend Plc is authorized by the Financial Conduct Authority as a e-money institution (reference number 900004) for issuance of electronic money, placing cash to a payment account, withdrawing cash from a payment account, execution of payment transactions on a payment account (not covered by a credit line), execution of payment transactions on a payment account (using a credit line), issuing payment instruments or acquiring payment transactions, money remittance, execution of payment transactions via telecoms, IT system or network operator, account information services, payment initiation services; the authorization was granted on 2 February 2018.
PaySend Plc is not a bank, it can't collect deposits from public or loan out its clients’ money. Hence, it does not have to participate in deposit guarantee schemes. However, PaySend is required to safeguard its customers’ money.
Since January 2021, PaySend Plc can not conduct its activities in EEA member states. PaySend Plc keeps providing its services to EEA-based customers via PAYSEND EU DESIGNATED ACTIVITY COMPANY (Ireland).
PaySend Plc is a SWIFT member and a SEPA (SCT, SCT Inst, SDD, SDD B2B) scheme participant.
PaySend Plc is connected to MasterCard payment card scheme.
PaySend has profiles on the following social networks: