Azimo, the digital money transfer service, today announced the launch of its mobile airtime service. Through a strategic partnership with TransferTo, a leading provider of international airtime remittance, the new service will enable Azimo’s customers to instantly send airtime to pre-paid mobile phones in over 100 countries: an addressable market of over 4.5 billion people.
According to Juniper Research, over $5 billion USD was sent via airtime top-up last year alone. With mobile penetration set to match the global population by 2020, the appetite for cross-border mobile services is growing, particularly in developing nations. By integrating TransferTo’s global hub, Azimo customers now have the ability to send airtime top-ups using just the recipient’s phone number. Details of the mobile carrier are detected in real-time with all transactions stored on the Azimo platform allowing repeat transactions to be made in seconds.
“It’s all about giving our customers the widest possible choice in supporting their loved ones wherever they are. Today, we deliver to over 200,000 cash payout locations and to any bank account or mobile wallet globally. With TransferTo’s network of global mobile operators, we’re now able to offer pre-paid airtime at a time when people are more likely to have a mobile phone than a bank account,” said Michael Kent, CEO, Azimo.
Through this partnership, Azimo will have the ability to take advantage of the rest of TransferTo’s portfolio of products including its Mobile Money and Mobile Goods and Services Remittance hubs in the future.
TransferTo’s CEO, Eric Barbier, added: “We are thrilled to be in a position to provide more remittance options to Azimo’s customers; mobile phones are essential to people’s lives and, increasingly now, to how they manage their finances.”