Azimo, the online money transfer service, has announced that customers across Europe can now send money instantly to the mobile “eWallets” of M-PESA’s 19 million subscribers in Kenya.
Kenya boasts one of the highest global rates of mobile banking, with around 60% of all Kenyans sending or receiving money via their smartphone. Between January and February 2013 almost 100 million mobile banking transactions were recorded totalling $3.3 billion.
According to the Central Bank, Kenyans living abroad sent $1.38 billion back home in 2013. Azimo’s new service means these tens of thousands of hard-working Kenyan migrants can now send money home to support their loved ones at a lower cost than ever before.
Azimo provides a fast, safe, easy and low-cost way to transfer money across borders, offering rates up to 85% cheaper than high street banks and traditional money transfer providers.
The service is available across the UK and Eurozone, including Italy, Ireland and Germany. Funds are delivered instantly, enabling M-PESA customers to withdraw money from any M-PESA agent outlet or participating ATM network in Kenya.
Registering to use Azimo is free and takes just a few seconds from a PC or phone using your email address or Facebook profile. All you need is your recipients name exactly as it appears on their M-PESA account, their mobile number and, of course, the amount of money you want to send.