Paysend, the next-generation payment platform enabling customers and businesses all around the world to pay, hold and send money online anywhere, anyhow and in any currency, announced its partnership with Montreal-based fintech Flinks to expand funding options for Canadians.
“By delivering solutions supported by Canadian companies for Canadian citizens and immigrants, this partnership strengthens Canada’s position as a fintech hub and builds onto a more powerful fintech ecosystem for the nation”
Through this strategic partnership, Paysend has launched a new funding method for Canadians, now including electronic funds transfer (EFT), which allows users to directly transfer funds from one Canadian bank account to another or across the globe. Canadians are no longer restricted by credit card and debit card limits, often requiring multiple transfers. Instead, they can securely send a single transfer of up to $10,000 CAD directly from their bank to over 120 countries while benefiting from Paysend’s revolutionary technology that allows funds to be received in approximately 12 seconds.
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“In a world that’s constantly changing, effective money management is essential,” said Ronald Millar, CEO, Paysend. “Our customers need solutions that are safe, fast, convenient and smart, and which simplify the complexities of money. Partnering with Flinks was a natural fit for us. Together, we are empowering individuals to securely and quickly transfer money directly from their bank account to loved ones, wherever they may be.”
Paysend selected Flinks not only for its powerful technology, but to further its commitment to Canada. A fast-growing fintech, Flinks recently received $103 million in funding from the National Bank of Canada, including $30 million in growth capital to fuel continued expansion across North America. Flinks continues to break down barriers to innovative financial services, with millions of consumers relying on the fintech each year and growing.
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“By delivering solutions supported by Canadian companies for Canadian citizens and immigrants, this partnership strengthens Canada’s position as a fintech hub and builds onto a more powerful fintech ecosystem for the nation,” said Timur Shomansurov, Country Manager of Paysend in Canada. “We are thrilled to expand our offering with Flinks and look forward to working with a like-minded organization to better support communities across the country.”
“To stimulate economic growth, Canada continues to outpace other nations with its immigration initiatives, but these individuals need better ways to send money internationally. Paysend is leading the charge to do so, and we are delighted to enable them with the tools they need to provide faster funding methods, particularly for Canadian immigrants, students, temporary workers and expats,” said Yves-Gabriel Leboeuf, Flinks’ Chief Executive Officer.
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