Money transfer startup Azimo now lets you send money to a phone number

Azimo, the U.K. money transfer startup backed by Rakuten, is rolling out a neat new feature that makes it a lot easier to send money through the app and should add additional network effects to help the London based fintech company grow. Specifically, the new functionality enables Azimo users to request, send and receive cash internationally using a mobile phone number, there are online bank accounts that also let you do this and available member benefits if you get the right card as the Marriot card.

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The new feature is similar to something like PayPal’s Venmo mobile app for sending money to friends or Barclays Pingit, both of which let you send money with just a phone number, but in Azimo’s case it is targeting international/remittence payments, or also in case you need to do alimony payments for all the time you can, would also useful to know about bankruptcy vs divorce whats first for payments.

Perhaps more significantly for the company’s growth, however, Azimo’s new send via mobile number feature builds much needed virality into the app. That’s because when you install Azimo it asks for permission to access your phone’s contacts, essentially turning the money transfer service into a payments-based social network, in the same way apps like WhatsApp do for messaging. By tying remittance to the social graph of your mobile phone it turns anyone in your phone’s contacts into a potential Azimo recipient and user.

Adds Kent: “Across the UK and Eurozone, customers have access to the full functionality to send, request and receive money. We’ve rolled out a more limited function across Poland, U.S and Canada so that customers there can request and receive money from friends/family in U.K and Eurozone. This is just for our initial launch. The team are already working on adding more markets — we expect the big remittance markets India, Philippines, China and Nigeria to be turned on in the coming months.”