Xoom Partners with OXXO to Add More Than 17,000 New Cash Pickup Locations in Mexico
September 06 2018 - 12:00PM
Business Wire
PayPal’s international remittance provider is
the first online-only remittance service to partner with Mexico’s
largest convenience store chain
Xoom, PayPal’s international money transfer service, today
announced a partnership with TransNetwork, an electronic payment
processing platform, so Xoom customers in the United States can
send money to loved ones for cash pickup at any OXXO location in
Mexico. The first online-only remittance player to partner with
Mexico’s largest chain of convenience stores, Xoom will add more
than 17,000 cash pickup locations with this partnership, providing
customers more convenience than ever as recipients can now choose
from over 35,000 locations in the country.
“We’re thrilled to be the first online-only remittance provider
to partner with OXXO,” said Julian King, Xoom’s Vice President and
General Manager. “With this partnership, Xoom is furthering its
mission to empower customers with the technology to send
international money transfers quickly and securely so they can
enjoy peace of mind knowing their loved ones have fast and
convenient access to their funds.”
"The remittance service at OXXO is strengthened thanks to the
alliance with Xoom and Transnetwork, with which we reaffirm our
commitment with our customers by offering more options for the
collection of remittances and thus contribute positively to the
economic and social development of Mexico, especially in those
states where these remittances are a large source of income," said
Asensio Carrión, director of financial and electronic services at
OXXO.
Established in 2001 and acquired by PayPal in 2015, Xoom is a
fast and secure way to send money, pay bills and reload phones for
loved ones in more than 130 countries globally. These remittances
serve as lifeline for many people around the world and are used to
pay for things like utility bills, healthcare, education costs and
emergencies. The largely cash-based system of sending money across
borders is full of paperwork, high fees, standing in line and an
ever-present uncertainty of when, and if, the money will arrive
when it’s needed. By providing fast and secure payment options for
customers to seamlessly send money across borders by going online
or using a mobile device, PayPal and Xoom are helping to expand and
improve the financial health of millions of people worldwide.
To send money internationally in a few simple steps, download
Xoom’s mobile app on Android and iOS or go to xoom.com.
About PayPal
Fueled by a fundamental belief that having access to financial
services creates opportunity, PayPal (NASDAQ: PYPL) is committed to
democratizing financial services and empowering people and
businesses to join and thrive in the global economy. Our open
digital payments platform gives PayPal’s 227 million active account
holders the confidence to connect and transact in new and powerful
ways, whether they are online, on a mobile device, in an app, or in
person. Through a combination of technological innovation and
strategic partnerships, PayPal creates better ways to manage and
move money, and offers choice and flexibility when sending
payments, paying or getting paid. Available in more than 200
markets around the world, the PayPal platform, including Braintree,
Venmo and Xoom, enables consumers and merchants to receive money in
more than 100 currencies, withdraw funds in 56 currencies and hold
balances in their PayPal accounts in 25 currencies. For more
information on PayPal, visit https://www.paypal.com/about. For
PayPal financial information, visit
https://investor.paypal-corp.com.
About Transnetwork LLC
TransNetwork LLC is a Houston-based B2B electronic domestic and
cross-border processing and payment platform which enables licensed
and regulated financial institutions to connect under one standard
technology granting access to a diversified payment network of over
45,000 locations in Mexico, Central and South America. With more
than 15 years of experience processing remittances to financial
networks and retail chains, the firm currently operates in Mexico,
Guatemala, El Salvador, Honduras, Nicaragua, Ecuador, Peru and
Colombia. For more information, visit www.transnetwork.com.
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PayPalErin Mackey, 908-295-9083emackey@paypal.com
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