International money transfer startup Azimo in integrating its service into Facebook Messenger to allow senders and receivers to connect through the social network of 1.65bn users.
The new functionality will allow users to share details instantly through the Messenger platform and then complete the transfer through Azimo’s app. The company says the partnership makes it the first remittance startup to integrate into Facebook Messenger.
The news follows remittance competitor TransferWise gaining access to the UK’s Faster Payments Service through a partnership with Raphaels Bank, as the two compete to make money transfers as quick and seamless as possible.
“Sending money should be as easy as adding a friend on Facebook. With 250m migrants around the world sending over $600m home every year to family, friends or businesses, the new feature creates an unprecedented shared ownership, putting the receiver in as much control as the sender,� said Michael Kent, CEO and Founder, Azimo.
London-based Azimo has raised almost $47m in funding since its launch in 2012, with Japanese internet giant Rakuten pumping $15m into the company in May.
Azimo’s integration with Facebook messenger highlights the growing importance of chat interfaces in consumer-facing fintech products. With Rakuten owning messaging and call app Viber, it’s likely that Azimo will soon integrate with it too.
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