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PagoFX, Santander’s international money transfer app, launched in Belgium, marking its first expansion since launching in the UK in April.

Seen as a direct rival to the TransferWise fintech unicorn, PagoFX allows users with a debit card issued by any bank or financial institution to send money abroad using only their smartphone.

From today, Belgian residents can create an account after downloading the app. Within minutes, after a quick verification process, they can send their first international money transfer to 42 different countries.

Cedric Menager, CEO of PagoFX, declares: “It is no coincidence that we have chosen Belgium as the first country for our international expansion: Belgium is the crossroads of many nationalities, many different cultures and many people with clearly need to make international payments transparently. and at a low price. “

PagoFX charges a flat fee of 0.8% of the transaction and promises next day delivery provided the transfer – calculated at the real-time mid-market exchange rate – is authorized before 8 p.m. GMT the day before.

As an added incentive. New PagoFX customers can send up to £ 1,000 free of charge as part of a bonus program that runs until January 15, 2021.

Finextra’s Future of Payments report explores how new business models, new operating models and new forms of collaboration are driving the 2020 payments ecosystem. Click here to download.

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