The FINANCIAL — HomeSend and Azimo today announced the launch of new mobile wallet services in ten countries throughout Africa and Asia-Pacific – reaching millions of mobile money subscribers. Azimo customers in 20 European countries are now be able to send funds to mobile money accounts of loved ones in Armenia, Burkina Faso, Fiji, Ghana, Indonesia, Kenya, Nepal, Nigeria, the Philippines and Somaliland.
HomeSend, the global remittance hub, is a service that bridges the gap between various entities globally such as financial institutions, non-financial entities and mobile network operators. Through HomeSend, Azimo customers will be able to conveniently send money directly – and in real-time – to a recipient’s mobile money account linked to their mobile number versus having to send funds via an over-the-counter agent or directly to a bank account.
“We’ve seen an increased desire for people to be able to safely send funds via mobile money accounts,” said Stephen Doyle, CEO of HomeSend. “This form of money transfer has gained particular popularity due to its convenience, security, competitive pricing and near-instant delivery times.”
“Azimo is focused on being the universal digital platform for remittances. With cash payout, direct to bank account, mobile top-up and even home delivery money services in over 200 countries, we already have the most comprehensive network of any digital player” said Michael Kent, Founder and CEO of Azimo. “This tie up with HomeSend to offer more mobile wallet services is a major step on our journey.”
The World Bank estimates that global remittance market will continue to grow this year to a projected total of $586 billion, underscoring the demand for people to have access to safe and secure ways to send and receive funds, according to Mastercard.
“Our partnership with Azimo adds to the tremendous reach of the HomeSend network,” added Doyle. “We’re excited that these kinds of meaningful partnerships are helping to not only give consumers access to safe ways to send funds, but also drive more financial inclusion around the globe.”