SAN JOSE, Calif., Nov. 12, 2019 /PRNewswire/ -- Xoom, PayPal's
international money transfer service, today rolled out the ability
for customers to send money to recipients in the U.S. for the first
time. Through strategic alliances with Walmart and Ria, Americans
can now use Xoom to send money fast for cash pick-up typically in
minutes at nearly 5,000 locations across the country*.
Xoom's services potentially benefit more than 44 million
foreign-born people in the U.S.1 who send remittances to
family and friends in their home countries. With the introduction
of domestic money transfer services, Xoom will now serve even more
customers, including more than half of Americans who make domestic
person-to-person (P2P) payments2. Using Xoom's mobile
app or website, consumers will have the ability to send money
quickly and securely for cash pick-up at any Walmart or Ria-owned
store in the U.S.
"Many of our customers in the U.S. already send money to loved
ones in the country, and they usually prefer that the money is
available right away," shared Julian
King, Xoom's Vice President and General Manager. "This
rollout reinforces our commitment to make money transfers fast,
easy and affordable for everyone, whether they are at home or
on-the-go."
"At Ria, we are delighted to further consolidate our
relationship with Xoom and Walmart," said Juan Bianchi, CEO of Euronet's Money Transfer
Segment. "Our continued partnership is a fine example of how Ria's
technology can serve as an enabler between platforms, offering
consumers and partners an added layer of security and compliance
screening, in turn facilitating value creation within the Fintech
ecosystem."
Many consumers in the U.S. face personal, institutional and
policy-related barriers to access the financial system. These
underbanked consumers rely heavily on fringe financial service
providers to conduct routine financial transactions and pay high
fees in the process. With Xoom's introduction of domestic
transfers, Americans can send money at affordable rates for cash
pick-up quickly at 4,684 Walmart stores and 175 Ria locations
across the United States. For more
information on store locations and eligible banks, visit
xoom.com.
A pioneer in digital remittances, Xoom is a fast way to securely
send money, pay bills and reload phones for loved ones in over 160
countries globally. These remittances serve as a lifeline for many
people around the world and are used to pay for every day needs
like utility bills, healthcare, and education costs, as well as
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 more secure payment options
for customers to seamlessly and securely 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.
*Fees and Limitations apply
About PayPal
PayPal has remained at the forefront of
the digital payment revolution for more than 20 years. By
leveraging technology to make financial services and commerce more
convenient, affordable, and secure, the PayPal platform is
empowering more than 295 million consumers and merchants in more
than 200 markets to join and thrive in the global economy. For more
information, visit paypal.com.
About Ria Money Transfer
Ria, a subsidiary of Euronet
Worldwide, Inc. (NASDAQ: EEFT), is a global leader in the money
transfer industry. The company is steadfast in its commitment to
its clients and their communities, offering fast, secure and
affordable money transfers through a network of over 385,000
locations spanning across 160 countries and online at
www.riamoneytransfer.com.
For more information visit www.corporate.riafinancial.com.
Media Contact
Jaymie
Sinlao
1-650-557-8173
Jsinlao@paypal.com
1 According to the 2018 American Community
Survey single-year estimates, commissioned by the U.S. Census
Bureau.
2 According to data from a 2017 Aité Group survey
of 1,974 U.S. consumers about their person-to-person (P2P) payments
behavior.
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SOURCE PayPal, Inc.