The Global Account allows users to pay, hold, and spend their money through a multi-currency wallet, eliminating some of the fees
UK fintech rolls out free multi-currency accounts in Europe. Source: shutterstock.com
Paysend announced the launch of the Global Account, its international mobile money account. It is aimed to help consumers save up to £2 billion in currency conversions when they carry out cross-border transactions.
The analysis revealed that consumers could save up to £1.25 billion in fees when spending abroad and up to £996 million when buying from foreign websites per year.
Paysend’s Global Account incorporates a multi-currency wallet, supporting the world’s top 6 currencies including the Chinese Yuan. The users can easily switch value between currencies using the mid-market exchange rate and pay in local currency using the Paysend Mastercard or in-app virtual card.
Along with that, the Global Account enables customers to transfer money directly to other Global Account users worldwide. It also includes the paylater feature, providing users with up to £200 credit to make purchases, with interest-free repayments over 14-days.
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