UK-based start-up puts huge focus on transactions to Asia
Azimo, the online international money transfer service, has launched 20,848 new cash pick up points across the globe, more than half of which are in India.
Almost 12,000 pick-up points have been added in India, 1,800 in Nepal, 1,600 in Sri Lanka, 2,600 in Indonesia and 2,500 each in Pakistan and Vietnam
Further cash pick-up locations have been activated in 25 other countries including China, Jordan, Lebanon, Egypt and Bangladesh
Azimo’s cash pick-up service means recipients don’t need to have a bank account in order to receive money from overseas.
Azimo founder Michael Kent says Asia is already the world’s biggest recipient of remittances: “The Asian money transfer market is undergoing an important modernisation and we’re playing a vital role in increasing financial access across the region. There is huge demand for an affordable and easy way to transfer money from Europe to destinations across Asia,” he said.
“With our rates up to 85 per cent cheaper than the competition, our aim is to really maximise the impact that remittances have across the continent.
“Although cash pickup was already available in many of these countries, it was on a much smaller scale. It is a landmark achievement for us to be able to offer the service to close to a further 21,000 locations across the globe,” continued Kent.
Azimo launched in 2012 and now has operations across the UK, Ireland, Germany and Austria. The service provides a simple and cost-effective solution to sending money to 190+ countries worldwide, in 12 different languages.