Social media users may have noticed messages popping up on their screens advertising a 'cheapest, safer and easier' way to transfer money abroad. This ‘best in class’ transaction is now possible thanks to a new online app developed by UK-based start-up company Azimo. The app can be used from Facebook to deliver funds to any bank account or to one of more than 150,000 cash payout locations around the world, allowing the user to see exactly how much the recipient will get.
Intriguingly, Azimo claims to be up to 85% cheaper than other established providers. Michael Kent, founder of the company, says that because competition is weak, there are great business opportunities in the remittance space.
