· Xoom’s partnership with Ria Money Transfer fits right into the former’s expansion plans
· Xoom now offers its money transfer services to over 130 countries
· Ria’s 150,000 network locations to serve Xoom customers
PayPal’s cross-border payments service Xoom announced its collaboration with international money transfer brand Ria on Tuesday, a development that has delighted Xoom users and Xoom itself. The Euronet Worldwide subsidiary has made it possible for Xoom customers to pick up remittances in over 150,000 network locations worldwide, according to a press release.
Expansion goals
The partnership will significantly increase Xoom’s presence in Africa and Eastern Europe, a move that Xoom has been eyeing for a long time. The collaboration between the two brands makes it easier for Americans to send money abroad through their mobile phones within seconds.
In an interview with Xoom Vice President and General Manager Julian King, King said: “Partnering with Ria allows us to grow our global footprint and significantly expand our services in the African diaspora and across Eastern Europe, which is a tremendous landmark for Xoom. With this expansion, Xoom now offers service to over 130 countries globally, including many countries that have limited access to digital remittance services. These customers now have a fast, secure, reliable and convenient way to send money to loved ones around the world.”
According to Juan Bianchi, Ria’s CEO: “Ria has developed an extensive physical network and a best-in-class compliance program and cutting edge technology. Ria’s partnership with Xoom is another great example of how Euronet’s core assets can help other fintech and payment companies enhance their value proposition and accelerate their speed to market in our fast-paced industry.”
Xoom services enhanced by Ria
Established in the year 2001, Xoom operated for 14 years before being acquired by online payments brand PayPal in 2015. PayPal’s acquisition of Xoom fits right in with the company’s fundamental belief that financial access creates opportunities for users. In fact, Xoom’s services is described by Business Wire as a “life line for many people around the world”.
Back in 2015, Xoom had a number of problems with their cross-border payments solutions including issues regarding PayPal to Xoom transfers. While it was available for a certain time, the service was discontinued. According to Xoom, users can’t use their balance in PayPal to fund a Xoom transaction but can use the cards attached to their PayPal accounts for the payments to go through. This issue is minimal though, because transferring money through Xoom is one of the most convenient ways to receive funds from loved ones abroad.
Xoom’s partnership with Ria will further cement the brand’s aim to become a global leader in cross-border payments. With Xoom, customers can send as much as $25,000 in just one transaction, a service that can “bridge the distance” between senders and recipients. Xoom also offers phone credit reloading services allowing users to send airtime to loved ones and friends around the world. The PayPal service also has a bill payment solution in place that allows users to take care of payments even if they are in the United States.
Get more information about international money transfers by visiting this link.
