Global Payroll Brand, Papaya Global, Acquires Money Transfer Company

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 Azimo business, known for its Money Transfer application for cross-border payments.

Papaya Global is a technology-driven organisation responsible for delivering trusted services and support to brands with global payroll requirements.

Serving leading ventures like Wix, Shopify, Microsoft, and Toyota, Papaya Global enables simple, streamlined, and compliant payments across 160 countries, and multiple modes 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 last financial report.

Headquartered in New York, Papaya Global delivers a range of services and support covering areas from data security to HR and payroll analytics, global immigration, and global equity management. Papaya’s USP revolves around making the concept of global hiring and payroll management easier and more accessible to growing companies worldwide.

With an all-in-one ecosystem for managing payments, employment, and various HR tasks, companies with a global footprint can sidestep some of the most significant complexities involved in accessing remote talent. The platform comes with machine-learning powered data analytics, as well as onboarding functionality, to help with managing teams remotely.

Papaya Global also provides self-service apps to ensure businesses can give their team members a more in-depth overview of everything from PTO to time and attendance.

Purchasing Azimo Money Transfer

As a rapidly growing pioneer in the payroll and global HR management landscape, Papaya understands the value of constantly innovating with new technology and solutions for clients. Already, the company has achieved 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 for rapid global growth. Already, Papaya Global’s service is 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.

Azimo, founded in 2012, powers money transferring service designed to make financial services more affordable and accessible to the masses. The company currently supports more than 2 million customers across 80 countries with instant and one-hour transfers.

Azimo serves its clients with an up to 75% cheaper transfer rate than standard high-street providers and banks. Currently, the Azimo app, with over 50,000 5-star reviews, and one million downloads, is available on the Huawei app gallery, Apple app store, and Google play store.

Expediting and Enhancing Payroll Payments

Papaya Global chose to purchase Azimo as part of its rapid growth plan, to deliver a greater range of services and benefits to its clients. The Azimo app, when embedded into the Papaya Global ecosystem, will expedite payroll payments for business leaders working with distributed teams.

Using Azimo’s pioneering technology, and powerful relationships with financial institutions across the globe, Papaya Global will be able to reduce the expenses and strains often associated with managing payroll across distributed global environments. The Azimo app will also allow Papaya Global to further expand its footprint to the markets served by Azimo.

Specifically, 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 own technology, which ensures comprehensive compliance and security for all payroll transactions.

Azimo’s core technology will embed into the existing “Payments” section of the Papaya Global platform, where users can currently make payments in any currency, at any time, across 160 countries. The payment service also includes support for full local compliance measures.

The Papaya Global Team believes this purchase is essential to the platform’s continued potential in the payroll management market.

According to Papaya’s CEO: “Azimo’s global digital payment network, multiple payment licenses, and deep fintech expertise strengthens our ability to help companies manage and pay their remote teams.”

Global 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.