- PayPal’s Xoom, which is a major provider of international money transfer services, has confirmed it will bring a new online money transfer product to the market.
- It is thought that customers in well over 20 nations across the globe will be able to benefit from the service.
- “We know that getting funds quickly and easily is important for many of our customers, which is especially true around the winter months and the holidays when people are sending money to their friends and family around the globe,” said a senior PayPal figure.
Xoom, a major provider of international money transfer services, has confirmed it will bring an online money transfer product to a wider market.
The firm, which is owned by PayPal, said that it would be working alongside Visa to bring its Debit Card Deposit scheme to more markets and help customers with eligible Visa cards.
It is thought that customers in well over 20 nations across the globe will be able to benefit from the service.
The Debit Card Deposit system was set up back in 2020 but at that time it catered to US customers only. The new move is expected to see the service, which allows for speedier transfers, expand internationally.
Wei-Lin Lee, Vice President of Remittances at PayPal, said that the movement of funds on a quick and simple basis was vital for clients.
“We know that getting funds quickly and easily is important for many of our customers, which is especially true around the winter months and the holidays when people are sending money to their friends and family around the globe,” he explained.
“This expansion, through our partnership with Visa, will help more customers around the world get a fast and convenient way to access necessary funds needed for everyday essentials.”
For Visa Direct North America, Senior Vice President Yanilsa Gonzalez-Ore said that the need for new solutions was always on the rise.
“There’s an ever-increasing need for digital solutions that help remove barriers for those looking to send money to friends and family across borders,” she said.
“Through this extended collaboration between Visa and PayPal, Xoom’s Debit Card Deposit will enhance cross-border money movement with the real-time payment capabilities offered through Visa Direct.”
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