Papaya Global, a world leader in convenient and powerful payroll management technology, recently announced a new step in its growth strategy. The brand has successfully completed the acquisition of the company Azimo, which is known for its Money Transfer application for cross-border payments.
Papaya Global is a technology-driven organization responsible for providing trusted services and support to brands with global salary requirements.
Leading companies such as Wix, Shopify, Microsoftand Toyota, Papaya Global enables simple, streamlined and compliant payments in 160 countries and multiple forms of employment.
Facilitating continued global growth
A pioneer in the payroll market, Papaya has quickly emerged as a hyper-growth contender in the Fintech landscape, valued at $3.7 billion according to the company’s latest financial report.
Papaya Global, headquartered in New York, provides a range of services and support from data security to HR and payroll analytics, global immigration and global equity management. Papaya’s USP revolves around making the concept of global recruiting and payroll easier and more accessible for growing companies around the world.
With an all-in-one ecosystem for managing payments, employment and various HR tasks, companies with a global presence can circumvent some of the key complexities associated with accessing talent remotely. The platform comes with machine learning powered data analytics, as well as onboarding functionality, to help manage teams remotely.
Papaya Global also offers self-service apps to ensure companies can give their team members a more in-depth view of everything from PTO to time and attendance tracking.
Buy Azimo Transfer
As a fast-growing pioneer in payroll and global HR management, Papaya understands the value of continuously innovating with new technology and solutions for customers. The company has already received positive reviews from a range of leading companies for its easy-to-use and convenient service.
The purchase of the Azimo Money Transfer Company is an important step in Papaya’s continued path to rapid global growth. Papaya Global’s service is already up to 80% faster at managing payments than other services. The introduction of this new technology will take the existing functionality of the platform to the next level.
Founded in 2012, Azimo powers the money transfer service designed to make financial services more affordable and accessible to the masses. The company currently supports more than 2 million customers in 80 countries with instant and one-hour wire transfers.
Azimo serves its customers with up to 75% cheaper transfer speed than standard high-street providers and banks. Currently, with more than 50,000 5-star reviews and a million downloads, the Azimo app is available on the Huawei App Gallery, Apple App Store and Google Play Store.
Accelerate and improve payroll
Papaya Global chose to acquire Azimo as part of its rapid growth plan to offer its customers a wider range of services and benefits. The Azimo app, when embedded in the Papaya Global ecosystem, will accelerate payroll payments for business leaders who work with distributed teams.
Using Azimo’s breakthrough technology and strong relationships with financial institutions around the world, Papaya Global will be able to reduce the costs and stress often associated with managing payroll in distributed global environments. The Azimo app also allows Papaya Global to further expand its footprint into the markets served by Azimo.
In particular, the purchase will provide a valuable entry point for Papaya Global’s services and platform in the UK, Netherlands, Australia, Canada and Hong Kong. The payment transfer functionalities offered by Azimo will be further enhanced by Papaya’s proprietary technology, which ensures comprehensive compliance and security for all payroll transactions.
Azimo’s core technology will be integrated into the existing ‘Payments’ section of the Papaya Global platform, where users can currently make payments in any currency and at any time in 160 countries. The payment service also includes support for full local compliance measures.
The Papaya Global Team believes this purchase is vital to the platform’s continued potential in the payroll market.
According to Papaya’s CEO, “Azimo’s global digital payment network, multiple payment licenses and deep fintech expertise strengthen our ability to help companies manage and pay for their remote teams.”
International companies can learn more about Papaya Global and its simple, secure and streamlined approach to payroll management on the company’s website or by contacting the team.