Published via G: 2014-03-17 15:51:30
Launched in August 2012, Azimo aims to disrupt the remittance industry by letting users transfer money internationally to friends, family or other contacts via the Web, its mobile apps or Facebook, charging between 1 percent and 2 percent of the transaction, which is significantly cheaper than the rates charged by the likes of Western Union, PayPal or, indeed, the banks. The recipient receives the money either in their bank account, at local cash collection points, or as “mobile wallet” top-up credit.
My Two Cents
Money transfer services via web, mobile or even FB - it's about time this market gets a disruption aimed at it. Big market, huge implications upstream and downstream. Moving money, especially in mobile is going to ripple through every sector! Love seeing this.
