Sending money to China will be as easy as ‘sending an image’ as Azimo seeks to further revolutionise the payments landscape.
Azimo, the online money transfer provider, is now offering its customers the opportunity to send money instantly to China. The move, which comes as part of a partnership Chinese payments platform Alipay, aims to bring the convenience of Amazon to international money transfers.
“In a world where Amazon can deliver a parcel on the same day that it is ordered, we believe that instant transfers should be the standard user experience for remittances,” said Richard Ambrose, Azimo’s CEO. “With instant or one-hour transfers available to over 80 countries, Azimo is making that experience a reality for over a million customers in the last year alone.”
To cut down on the administration, Azimo users only need an Alipay ID for the recipient in order to make an instant transfer in Yuan. The money will go imediately to the Chinese bank account linked to their Alipay ID. This, according to Ambrose, will mean you can send money to someone in China as quickly as you might send pictures.
“In 2020, sending money abroad should be as easy as sending someone a photo. Partnering with Alipay has allowed us to offer our customers an instant, seamless user experience when they send money to China,” he added.
Azimo has been at the vanguard of the move to bring speed and affordability to the international payments scene. Their reach continues to expand with the platform now covering more than 200 countries with a launch in Hong Kong planned for later this year.
Last year it did what many of Europe’s leading fintech companies are only promising to do – reached profitability thanks to successful expansions into Africa and South East Asia. Transaction volumes increased 60% and the arrival of the pandemic has moved things along even more quickly as consumers who might once have transferred money physically through their bank, turned to the speed and convenience of digital.
However, they operate in an increasingly competitive field with a host of providers seeking to provide faster and more affordable services. This partnership, they hope, will keep them at the head of the pack.
“We look forward to working closely with Alipay for global remittances, as we continue to explore new ways to apply our technology in order to benefit more people globally,” Dora Ziambra, Azimo’s Chief Operating Officer added that.
“We are committed to working with partners such as Alipay, using innovative technologies to help global consumers gain access to inclusive financial services, creating greater value for society and bringing equal opportunities to the world.”
Tom Cropper has been writing for us since 2015. Tom is a financial journalist and his work has appeared in titles such as the Guardian, Euromoney and many others.