TransferWise is a peer-to-peer service that sidesteps bank fees and lets you switch money directly to users in other countries. Though it has previously had an app available on Google Play, it was actually just a shortcut to its website and lacked any real ‘native’ functionality. Today’s news comes six months after it rolled out a version for iPhone-users.
The free app is compatible with Android 2.3+, and lets you transfer money to anyone, anywhere in the world.
In the three years since launch, the company claims to have transferred more than £1 billion of customers’ money. There has been an eightfold increase in transfers since last May, when PayPal co-founder Peter Thiel led a $6 million investment round with Valar Ventures.