Send money to all major banks including Bancolombia and Davivienda. You can even send money to someone’s doorstep via Caribe Express or Remesas Dominicanas Money is typically available in minutes*. Your contacts can pick up cash from over 500 trusted locations like Caribe Express and Banco BHD León. Money is typically available next business day*. Send money to all major banks including BanReservas, Banco BHD, and Banco Popular. Money is typically ready in minutes* when you send to banks or for cash pickup Your contacts can pick up cash from over 100,000 convenient locations like Muthoot Finance and Manappuram Finance. Send via UPI ID or with your contact’s bank info. Send money to all banks in India including State Bank of India, ICICI, HDFC Bank, and Axis Bank. Money is typically available in minutes* when you send to banks or for cash pickup Your contacts can pick up cash from over 12,000 reliable locations like Cebuana Lhuillier and M. Send money to over 35 banks including Banco de Oro and Bank of the Philippine Islands. Reload minutes to Telcel, ATT&T, and others Your contacts can pick up cash from over 41,000 trusted locations like OXXO and Elektra. Send money to all major banks including BBVA Bancomer, BanCoppel, Banorte, and Banamex. Send money directly to friends and family – they don’t need a PayPal or Xoom account Just log in to Xoom, enter your contact’s number, and pay in seconds Multiple ways to send, including bank deposits, cash pickup, and mobile wallet transfers Upfront delivery times and real-time tracking updates, so you know when your money will be delivered Because we're a PayPal service, your transactions and financial info are secured by PayPal's trusted technologyĬompetitive and transparent rates for you, and no transaction fees for your contactsĮasy access to your PayPal wallet, so you can use your PayPal payment methods on Xoom We have you covered with:Ģ4/7 transaction protection and fraud monitoring. "Sending money to Africa through traditional channels has always been expensive,” said Julian King, Vice President and General Manager, Xoom. “We wanted to help bring down the cost and speed up the process to boost financial inclusion.Xoom is the fast, safe, and reliable way to send money to friends and family abroad. Remittance transfers to mobile wallets through its platform could bring average fees in some regions down to 2-4%, depending on which countries money is transferred between, and the funding source. Xoom says it can help bring down these average costs and enhance financial inclusion across great swathes of the population. “Most African users now rely on mobile payments to send and receive money domestically,” he adds. “Increasingly, they are taking advantage of new services to also send and receive money internationally.” In Sub-Saharan Africa there are only around five traditional bank branches per 100,000, but the region is one of the world’s hotspots for mobile money accounts: in some countries across the region, more than 60% of adults hold one. Sy, a leading financial advisor and former Deputy Division Chief in the IMF Monetary and Capital Markets, says access to traditional banks is “almost a mirage for most Africans”. Xoom will initially launch in Burundi, Cameroon, Ghana, Kenya, Madagascar, Malawi, Mozambique, Rwanda, Tanzania, Uganda, Zambia and Zimbabwe, before a wider continental rollout in 2021.Īfrica is one of the most expensive regions in the world to send remittance to through traditional channels, with large sums carrying a cost that is almost three times higher than the global average.Īmadou N. Paypal is expanding its money transfer service Xoom into underbanked segments of Africa, allowing customers in the US, UK, Canada and Europe to send money to mobile wallets across the continent.
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