Paysend is a global payment platform that aims to make cross-border money transfers seamless and accessible for everyone. Launched in 2017, the company connects over 20 billion endpoints worldwide through the Paysend Payment Network, integrating major card schemes like Mastercard, Visa, and China UnionPay and local payment rails.
With a presence in over 65 countries and a team of 350+ people, Paysend empowers individuals and businesses to move money across borders quickly and securely. The platform has attracted over 10 million registered users, with 1.6 million sending money regularly.
The Challenge
Before partnering with Sumsub, Paysend relied on another automated verification provider that soon revealed several critical limitations.
Operating in diverse markets with constantly evolving regulatory requirements, Paysend faced geographic coverage and compliance gaps. The lack of multilingual document support and localized ID recognition slowed onboarding and created friction for users. At the same time, weak fraud prevention measures exposed the company to risks like forged documents and synthetic identities.
In addition, the provider struggled to keep up with regulatory shifts and technological change, making it difficult for Paysend to stay agile in fast-moving markets.
To better support its global operations, Paysend began looking for a new solution that could match the scale and complexity of its compliance needs. The goal was to find a more flexible, customer-focused partner that could offer broader document support across multiple languages and ID formats and deliver stronger fraud prevention capabilities such as AI-powered checks and ongoing risk monitoring. Just as critical was the need for a responsive team, capable of quickly adapting to regulatory changes and working collaboratively to customize verification flows in line with Paysend’s evolving business needs.
Why Sumsub?
Paysend selected Sumsub as a partner because it addressed key gaps in their previous setup, offering:
- Proactive innovation: willingness to evolve with technological and compliance trends.
- Global regulatory expertise: adaptability to regional KYC/AML requirements.
- Multi-language and document support: streamlined verification for a diverse, global user base.
The Solution
Paysend’s verification process is now fully automated across all platforms—iOS, Android, and web—delivering a smooth, consistent user experience. By integrating Sumsub’s SDK directly into its money transfer flows, Paysend streamlined KYC checks and fraud screening, now covering 90% of its geographic markets. This end-to-end automation enables users to complete verification quickly and move on to transactions without delay, boosting Monthly Active Users (MAU) by minimizing friction.
For edge cases that require extra attention, Paysend introduced a semi-automated flow where users can reach out with verification-related questions. Thanks to Sumsub’s intuitive back office, the support team can resolve these cases efficiently, maintaining a positive user experience.
Alexa Choi (Tsoy)
Head of Operations Products at Paysend
Sumsub’s solution directly supports our core business goal: increasing successful verification rates to nearly 95%. With their technology, we’ve been able to boost security, reduce drop-offs, and improve customer satisfaction, while staying compliant across all our regions.
Implementation
The implementation process was seamless from the start. Paysend easily integrated Sumsub’s solution across its platforms, supported by clear documentation and an intuitive admin console that suited both technical and non-technical teams.
Beyond the technical setup, the collaboration itself played a key role in the rollout’s success. Sumsub’s team stayed closely aligned with Paysend throughout, adapting to priorities, staying flexible, and ensuring everything moved forward without delays.
Alexa Choi (Tsoy)
Head of Operations Products at Paysend
Sumsub felt like a true partner, committed to solving challenges, driving results, and supporting us every step of the way. The implementation met, and in some areas exceeded, our expectations, allowing us to focus on delivering a smooth, secure experience to our users.
The Results
Since integrating Sumsub, Paysend has seen measurable improvements across key verification metrics:
- 20% reduction in deepfake and fraud cases, strengthening platform security
- 10% increase in approval rates, compared to the previous solutions
- Under 10-second processing time, speeding up user onboarding
Alexa Choi (Tsoy)
Head of Operations Products at Paysend
With Sumsub, we increased approval rates by 10%, cut verification time to under 10 seconds, and reduced deepfake and fraud cases by 20%—all while improving the overall user experience.
Sumsub’s cost-efficient pricing model helped Paysend improve its unit economics, keeping the cost per verification case low despite rising industry rates. The platform’s transparent analytics also played a crucial role, enabling data-driven decisions to optimize verification quality and volume.
Beyond the numbers, Sumsub’s no-code tools gave Paysend’s non-technical teams more autonomy. Teams could manage verification flows directly and suggest UX improvements, speeding up iteration cycles. Real-time dashboards offered additional visibility into performance trends, allowing the team to act quickly and stay ahead of potential issues.
Future Plans
Looking ahead, Paysend is focused on delivering smarter, faster, and more secure financial solutions as part of its ongoing #MoneyForTheFuture vision. Plans include launching a next-generation platform with advanced features to enhance user experience, and expanding into new markets with fully localized and compliant onboarding flows.
Sumsub will continue to play a key role in this journey, collaborating on innovative verification processes and scaling alongside Paysend’s growth.
Alexa Choi (Tsoy)
Head of Operations Products at Paysend
We deeply value Sumsub’s partnership; their commitment to our goals mirrors our dedication to excellence. Together, we’re building the future of frictionless finance.