Azimo Adds Facebook Social Money Transfer Service

What's Next In Payments®
6:26 PM EST 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
Point of Sale
PCH Trying to Buy Fab For $15 Million
Apple Pay Tracker
MasterCard: Security Is Nice, Functionality Is Better
News
Intuit Payments Sees Growth
News
Finally, An App That Finds Only Bars And Nightclubs!
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
In Depth
Let’s Get Ready To Retail
CA Technologies
How To Ignite Issuer-Branded Mobile Wallets
Point of Sale
PCH Trying to Buy Fab For $15 Million
Cool
Who’s Driving eCommerce Spend?
View All Articles ››