Kenya: Azimo unveils instant M-PESA transfer service

Azimo, an online money transfer service, has revealed 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 US$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.

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.

Michael Kent, CEO of Azimo believes it is important to offer hard working migrant a convenient and good value service: “We are delighted to be working with M-PESA to expand our global money transfer network. Africa has long been at the forefront of mobile money and our new service will allow us to help our customers hold on to more of their hard-earned cash.”

Staff Writer