Azimo Adds Facebook Social Money Transfer Service

What's Next In Payments®
6:26 PM EDT February 2nd, 2013

U.K.-based social money transfer startup Azimo has integrated with Facebook, allowing users of the social network to send money to each other via a Facebook app.

To use the service, consumers can choose if they want to receive their funds at a payout desk, through a mobile phone “top up” or receive directly in their bank account. Azimo also analyzes Facebook profile factors such as length of time a profile has existed, how many friends a person has and how active a person is to help fight fraud, reports TechCrunch.

“Azimo’s aim is to charge only what is fair – between 1-2 percent of the transaction – and to make it quick and easy for anyone to transfer their money overseas,” said Michael Kent, Azimo’s founder.

Read the full story here.

Topics:
Comments
Also by This Author
What's Hot
Alternative Financial Services
New Partnership Set To Boost B2B eCommerce
Alternative Financial Services
University of Dubai Opts For New ERP System
B2B Payments
CMS Payments Site Heading For More Downtime
News
Visa’s Worst Nightmare: Smarter Bankers
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
Alternative Financial Services
New Partnership Set To Boost B2B eCommerce
Alternative Financial Services
University of Dubai Opts For New ERP System
B2B Payments
CMS Payments Site Heading For More Downtime
News
Cash Use—Is It Just An Age Thing?
View All Articles ››