The purchase will enable PayPal to tap into the lucrative market for remittances. Xoom’s online service lets people send money internationally, often via mobile phone, typically charging USD 5 to USD 10 depending on the size of the exchange, as well as pocketing the difference in the exchange rates it sets. Xoom customers can also pay bills using the service.
PayPal has been pushing hard into mobile, where customers are more frequently making everyday purchases. The company has touted its peer-to-peer money transferring division Venmo, used primarily by smartphone-touting millennials, and earlier this year bought app developer Paydiant.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright