20 July 2018
Visit www.avoka.com

Azimo opens new money transfer service to China

12 March 2018  |  2716 views  |  0 Source: Azimo

Azimo, a digital disruptor of traditional money transfer services, has launched an improved service for transfers to China.

Customers will now be able to send money from 24 countries in Europe to individual bank accounts in China, delivered in local currency. With 99% coverage of bank accounts in China, low rates and fast delivery times, Azimo’s service is now superior to any other provider in the market.

With £4.1 billion (US$5.6 billion) transferred to China from Europe each year, Azimo’s online service will cut the cost of sending money by around 50%, meaning the typical customer will save around £10 on every transfer.

“Two million Chinese citizens currently live in Europe, transferring £80 million (US$110 million) home each week,” said Michael Kent, CEO at Azimo. “For those living away from family and friends, being able to send money home is hugely important. Our customers have used Azimo to send millions of dollars to China already. Now their transfers will arrive directly into their recipients’ bank accounts in local currency, without wasting their money on expensive fees.”

The expansion follows Azimo’s recent launch of fast weekend transfers to a number of countries including Nigeria, the Philippines, Bangladesh and Colombia, allowing money transfers to reach recipients in less than an hour even at weekends.

Kent commented: “Azimo already helps people send money to more than 190 countries - and this improved service to China enables our customers to pay directly into bank accounts in local currency in this critical market.

“By 2030, China is forecast to become the world’s largest economy, and so it’s also vitally important that European businesses are able to make payments there easily.”

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit https://secure.vasco.comVisit info.nice.com

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
12156 views comments | 5 tweets | 7 linkedin
Metro Bank opens developer portalMetro Bank opens developer portal
10082 views comments | 5 tweets | 14 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
9765 views comments | 6 tweets | 15 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
9324 views 19 comments | 14 tweets | 30 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
9294 views comments | 9 tweets | 17 linkedin

Featured job

Competitive base + commission + benefits
London, UK

Find your next job