- Azimo, a major provider of online money transfer services, has announced a new remittance corridor for the Turkish market.
- It will primarily benefit Azimo users who are based in other countries around the world – such as the UK and Canada – allowing them to make instant transfers to Turkey.
- “Azimo is making instant transfers the standard for the cross-border payments industry – and this service is the latest step on that journey,” said a spokesperson for the firm.
Azimo, which offers online money transfer services in a variety of countries, has opened a new remittance corridor for Turkey.
The firm, which describes itself as “Europe’s leading digital money transfer service”, said that the new corridor will allow “instant” transfers to be offered.
It comes after the firm linked up with United Payment, a Turkish payment services provider.
The new arrangement will permit consumers based in Europe, Australia and Canada to transfer money back to Turkey.
Transfers that are sent on a weekday before 3pm GMT will be sent immediately.
Transfers that are placed at the weekend or during the evening won’t be sent until the following working day.
Users who sign up to become a new Azimo customer will be offered two no-cost cash transfers to experiment with the service.
They will be able to try the service using the Azimo app and website.
In a statement, a senior figure at Azimo pointed out that there were millions of people in the Turkish diaspora.
Dora Ziambra, the company’s chief operating officer, said that this made for a large available market when it comes to remittances.
“With a diaspora of nearly 7 million people, Turkey is a fantastic market for remittance providers,” she explained.
“It is therefore stunning that Turkish remittances have remained slow and expensive for so long.
“Azimo is making instant transfers the standard for the cross-border payments industry – and this service is the latest step on that journey."
The chief executive officer for United Payment said that the move was a further step towards the firm’s ultimate aim.
“As United Payment, we have taken another big step towards our goal to become one of the most extensive cross-border payments service providers with our partnership with Azimo,” said İlker Sözdinler.
He went on to say that the promise of quick turnarounds was built into the brand.
“Supporting the cross-border payment solutions with our infrastructure, we provide speed as a brand promise.”
He concluded that the move would help enhance consumer choice.
“Thanks to this partnership, people will have a quick alternative for cross-border transactions to Turkey rather than the old conventional methods.”
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