Fintech service Avosend has expanded its geographical reach and launched money transfers for Russians to exotic countries: transfers are now available from Russian cards to cards in 25 countries in Asia, Africa and the Middle East. The Avosend representative reported this to RB.RU.
In total, 34 countries are now available in the app for transfers from Russia, including, in addition to the popular Armenia, Belarus, Georgia, Kazakhstan, Uzbekistan and Turkey, destinations such as Ghana, Bangladesh, Pakistan, Rwanda, Laos, Cambodia, Congo, Madagascar, Malaysia, Ecuador, Myanmar, Nepal, Panama, Swaziland.
These countries also include Indonesia, the United Arab Emirates, Sri Lanka, the Philippines, Thailand and Vietnam, which are familiar and popular among Russians.
“Due to the difficulties in traveling in Europe, the regions of Asia and the Middle East are increasingly interesting for travelers, even to open local maps. The biggest problem for those who have opened a card from a foreign bank is recharging that same card due to restrictions on international transfers,” says Avosend.
The service offers to install a mobile application, enter data from Russian and foreign cards there and make transfers. The monthly limit is 10 thousand dollars or 800 thousand rubles. When making a transfer, Avosend converts rubles into local currency at the current exchange rate. There is a transfer fee.
- Avosend is a fintech company that develops an online international money transfer service of the same name. The company allows you to transfer money abroad in local currency by making a transfer through the website or mobile application (available on RuStore, Huawei AppGallery, AppStore, Google Play). According to its own data, 2.5 million customers use the service.
- Avosend’s legal entity, PS Processing LLC, was registered in April 2012. The company’s revenue last year amounted to almost 638 million rubles, which is 4% more than in 2021. Net profit in 2022 reached 33, 4 million rubles, up from 8 million rubles in 2021. The company acts as a money transfer operator and received a license from the Central Bank of the Russian Federation in 2018.
Author:
Anastasia Marina
Source: RB
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