Fintech & Ecommerce

Paysend Partners JMMB Money Transfer for Jamaica Remittances

The citizens of Jamaica can now receive remittances from the UK, USA, and Canada via the Paysend App, as the company partners with JMMB Group subsidiary

Paysend Partners JMMB Money Transfer for Jamaica Remittances

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UK-based fintech Paysend announced a technology partnership with JMMB Money Transfer, a subsidiary of JMMB Group, to provide deposit-to-account transfers from the UK, USA, and Canada to Jamaica.

Paysend is a global payment ecosystem that gives individuals and businesses the ability to save, spend and send funds online in multiple currencies. The system currently supports cross-network operability across Mastercard, Visa, China UnionPay and local ACH and payment schemes in 175 countries worldwide.

The US, UK and Canada have been the top senders of remittance payments to Jamaica for the last decade. Through the partnership with JMMB Money Transfer, Paysend can now also cater to the financial needs of Jamaicans, providing an affordable alternative to legacy payment means.

The remittance receivers can access the funds sent via bank transfer on the same day. They can use an ATM at any time to cash their money out, or opt for online purchases and payments.

“We are happy to forge this partnership with Paysend, as it gives Jamaicans in the diaspora more seamless and safe options to send money to family and other loved ones. This move is synonymous with JMMB’s promise to deliver value-added service that improves our clients’ experience."
Sharon Gibson, CEO of JMMB Money Transfer

Meanwhile, money transfer senders will benefit from features such as low fixed fees, upfront exchange rates, fast transfer speeds, and the ability to make instant, digital end-to-end international payments.

Besides, both sides should not worry about the safety of their money transfer, as Paysend App employs an integrated fraud prevention system, along with AML-risk management and monitoring systems.

Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.