To expand service in the different markets
Paypal has launched its international money transfer service, Xoom in Ireland. This new service allows user to send money across more than 130 countries. It offers fast and secure way to pay bills or to transfer money to family and friends just using phone across Europe. Paypal customers using Xoom service can transfer up to €25,000 in a single transaction.
Xoom’s expansion to Europe is a significant milestone and another example of PayPal fulfilling its mission to make the movement and management of money more convenient, accessible, secure and affordable. The introduction of Xoom allows loved ones in these markets to receive money fast as compared to when money is sent to bank accounts.
The option for sending money abroad and in European countries is taking longer time duration; this forces Paypal to introduce new Xoom service which is user-friendly for customers to use. Xoom accounts can be set up through an iOS or Android app or on the web at Xoom.com. Existing PayPal customers can access Xoom services through their PayPal accounts. They can also send funds using a bank account linked to their PayPal account on top of the debit and credit card options.
Smarter ways to pay across countries
Consumers can use their bank accounts to transfer funds in addition to the debit and credit card options available through Xoom. Depending on the receiver country, users can choose from a range of options: deposit money to a bank account, send cash for pick-up or have cash delivered directly to their recipient’s door.
Dan Schulman,PayPal’ s Chief Executive and President, said, “The way we move and manage our money has changed dramatically in the last few years. We have moved beyond the days when the only option for sending money abroad was to queue at a counter for hours. Even in 2019, it still takes too long to get money from European countries to a loved one in another country.”
He also added, “We know how important these money transfers are in the lives of millions of people, and how crucial it is that money arrives swiftly so it can be used for things that matter. With Xoom, someone with a smartphone on a bus in London, Paris or Berlin can send money that can be accessed quickly in Mumbai, Lagos or Nairobi to pay for a family member’s medical emergency or urgent financial needs.”
