Azimo Launches Cash Switch Service with HBL in Pakistan

Azimo, a digital cash switch service, has introduced the launch of a cash switch service to Pakistan in partnership with HBL, Pakistan’s largest industrial financial institution. The brand new service will enable Pakistanis dwelling within the UK, Europe and Australia to ship cash in minutes, in keeping with a launch. Azimo says that remittances to Pakistan have “soared” producing a record-breaking quantity of world remittances in 2020, with $7.1 billion going into the nation throughout the third quarter of the yr alone.

Richard Ambrose, Azimo CEO mentioned the final yr has been significantly powerful for migrant employees, lots of whom fill essential roles in healthcare and different frontline companies.

“It’s not acceptable for banks and excessive road suppliers to make huge earnings at their expense, whereas investing nothing in bettering remittance supply occasions,” mentioned Ambrose.  “Sooner, inexpensive remittances put a reimbursement within the pocket of hard-working individuals and their households abroad. Azimo is on a mission to make on the spot transfers the business normal for remittances. This ultra-fast service to Pakistan is one other step on that journey.”

Azimo explains that clients could select to ship cash to any checking account in Pakistan, or to any department of HBL for assortment. The recipient of a money pick-up switch solely has to indicate their CNIC and switch quantity to assert the cash.

Faisal N. Lalani, Head – Worldwide Banking at HBL, commented:

“This alliance allows Azimo clients to obtain remittances utilizing HBL’s in depth community of over 1,700 branches throughout Pakistan. This partnership will open up new avenues for progress and allow clients to make transactions with ease and comfort anyplace in Pakistan. HBL firmly believes in supporting Non-Resident Pakistanis by offering them seamless remittance service, contributing to this key pillar of Pakistan’s financial engine.”