Papaya Global announced that it has acquired digital money transfer service, Azimo, a payment platform that will enable Papaya Global to make immediate payments across the world.
Together with Azimo, Papaya Global will be able to offer a payment solution that offers payments in hours instead of days. We will build an innovative new payment and financing offering for customers in cash advance and credit products, and in cryptocurrency.
The acquisition includes Azimo’s cutting-edge technology, extensive expertise in cross-border money transfers, a global digital payments network spanning more than 150 countries and, perhaps most importantly, UK payment licenses. Kingdom, the Netherlands, Canada, Australia and Hong Kong.
“I’m really passionate about this company, their business, their approach, the incredible global network they’ve built from the ground up, the people who made this possible – they do things the right way and I feel lucky to bring them into the papaya family.
“Azimo’s global digital payments network, multiple payment licenses and deep fintech expertise strengthen our ability to help businesses manage and pay their remote teams,”
This addition puts Papaya Global at the forefront of emerging trends in global payment technology. All Azimo employees will join the Papaya team.
“We look forward to partnering with Papaya to make it even easier for workers to get paid anywhere in the world,”
said Richard Ambrose, CEO of Azimo.
“Papaya’s customers will benefit immensely from our long experience in building payment technologies and operating as a regulated payments business.