LAHORE: Azimo, Europe’s leading digital money transfer service, on Friday announced the launch of its fastest-ever service to Pakistan thanks to a partnership with HBL, Pakistan’s largest commercial bank. The new service will allow Pakistanis living in the UK, Europe and Australia to send money to their loved ones in minutes.
Pakistan received record-breaking global remittances in 2020, with $7.1 billion pouring into the country during the third quarter of the year alone. Despite this, many banks still need three business days to deliver money to the country.
“The last year has been particularly tough for migrant workers, many of whom fill crucial roles in healthcare and other frontline services. It is not acceptable for banks and high street providers to make vast profits at their expense while investing nothing in improving remittance delivery times,” Azimo CEO Richard Ambrose said.
“Faster, affordable remittances put money back in the pocket of hard-working people and their families overseas. Azimo is on a mission to make instant transfers the industry standard for remittances. This ultra-fast service to Pakistan is another step on that journey.”
Azimo customers can choose to send money to any bank account in Pakistan, or to any branch of HBL for collection. The recipient of a cash pick-up transfer only has to show their CNIC and transfer number to claim the money.
HBL has over 30 million customers and was the first commercial bank to be established in independent Pakistan. The bank’s mobile app has more than 1.8 million users, a figure expected to grow rapidly during 2021 as digital adoption continues to accelerate in Pakistan.
Commenting on the partnership, HBL International Banking Head Faisal N. Lalani said, “This alliance enables Azimo customers to receive remittances using HBL’s extensive network of over 1,700 branches across Pakistan. This partnership will open up new avenues for growth and enable customers to make transactions with ease and convenience anywhere in Pakistan. HBL firmly believes in supporting Non-Resident Pakistanis by providing them seamless remittance service, contributing to this key pillar of Pakistan’s economic engine”.
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