PayPal has launched Xoom, a fast and secure international money transfer solution, in Australia, enabling users to send funds in 150+ countries across more than 100 currencies.
Xoom adopters in Australia can choose to make transfers directly to recipients’ bank accounts, mobile wallets or opt for cash pick-up or home delivery services. Used by millions around the world, the solution serves 95% of Australia’s major remittance receiver markets, including India, China, the Philippines, Vietnam and the UK.
PayPal’s cross-border solution
Australia presents 9.5 million active PayPal accounts, representing half of the adult population, and Xoom will be available for them from the first day of launch. Users with a verified PayPal account can sign up to Xoom using their existing credentials on the platform and begin using the solution immediately for cross-border transfers.
Australians can access the solution via the Xoom app, Xoom.com, or in the PayPal app, using their PayPal credentials to create a Xoom account or easily create a Xoom account if they are new clients. For payment options, users can choose to pay with a linked bank account, debit or credit card, or use any funding option in their existing PayPal wallet or balance. In supported countries, they can send up to AUD 50,000 per transaction to a bank account, for cash pickup, or home delivery, with the option to monitor transfers in real-time.
The launch in Australia reflects the company’s commitment to helping communities thrive by making it easier and safer for them to move and manage funds across borders. With competitive exchange rates, real-time tracking, and secure infrastructure, Australians can use Xoom to send money overseas with greater convenience.
As the country is more connected to the world than ever, PayPal aims to help individuals support loved ones, pay for overseas services, and send money internationally in times of need. Leveraging Xoom, they can do so faster, safer, and with more flexibility in how they choose to send money or receive it. Xoom aims to put more control in the users’ hands and provide more choice for those living abroad.
