PayPugs Announces the Partnership with Swiss Remit

PayPugs announced that it has partnered up with Swiss Remit to expand payment possibilities across multiple countries worldwide. The agreement was signed between the Chairman of the Board of PayPugs Alexander Zelinsky and Swiss Remit represented by Sergey Salpanov.

Swiss Remit was registered in Switzerland in 2007. The company is licensed by PolyReg, which is a local regulatory body under the Finma regulation.

Swiss Remit provides an API-centric platform through which PayPugs can easily expand coverage of countries in Asia, Europe, Africa and LATAM. The partnership will expand PayPugs payment possibilities to countries like India, Vietnam, Russia, Ukraine, Bulgaria, Romania, Georgia, Azerbaijan, Uzbekistan, Bulgaria, Morocco, Albania, Serbia, Kosovo, Turkey, Nigeria, Senegal, Ivory Coast, Ethiopia, Brazil and other countries.

The goal of the partnership was the desire to battle against the common challenge of remaining competitive in the fast-growing international money transfer market. The growing market has shown that to stay competitive, financial companies have to reduce transaction fees to end-users, maintain several partners, and find ways for saving transaction time.

Partnering with Swiss Remit has been another achievement for PayPugs in 2022. Swiss Remit holds the advantage of having the widest payout network in the market with over 10,000+ payout locations. Access to such a well-developed solution brings PayPugs one step closer to making payments easy and elevating the open banking sector.

"Without a doubt SwissRemit holds one of the most comprehensive and advanced products in the market. Their provided possibilities enhance PayPugs product offering not only geographically but also in competitiveness. We are more than excited to see what can be achieved with our partnership,"said Chairman of the Supervisory Board, PayPugs, Alexander Zelinsky.

"We are eager to strengthen our partnership with PayPugs in the global remittance market. Swiss Remit GmbH aims to step forward with a quick, secure, and cost-effective remittance solution for all its customers. Swiss Remit provides service in more than 100 countries worldwide, I believe that we will achieve all common goals together with PayPugs to support all our customers' needs,"Chief Executive Officer at SwissRemit, Sergey Salpanov, added.