P2P Transfers: Azimo’s International Money Service

• The London-based start-up Azimo has just launched a multi-channel (mobile, Internet or Facebook-based) international funds transfer service for individual customers, linked to an ethical and charity programme.

• Subscriptions are to be performed at Azimo’s website. The service is then accessible through this same website, through the dedicated mobile app or via Facebook and enables money transfers to a bank account, a mobile phone or to another Facebook account.

• These transfers can be initiated from the UK, using a payment card, an online or mobile bank account or by depositing the amount in cash at a UK bank.

• Azimo combines an ethical approach to its service and proposes simple credit transfers to charity organisation’s bank accounts. In addition, 10% of its profits are donated to charity.

Source: press release

• Azimo relies on its ethical approach as well as on an attractive pricing (1 to 2% commissions per transaction – globally three to six times lower than its competitors).

• Its money transfer service may enable its users to send funds to nearly 125 countries worldwide in 24 hours, and address issues immigrant or expatriated customers have to deal with.

• Over the past few months, Banks have been trying to get hold of the funds transfer market based on simple and fast mobile solutions. Barclays’s Pingit for instance, is especially popular and highlights this market’s potential. While, New Zealand-based ANZ bank proposes a simplified funds transfer service in Asia-Pacific, Azimo proposes to ease money transfer to roughly 90% of the world’s countries.