Paypal launches Xoom, a fast and secure international money transfer service in Canada
Vancouver: On Tuesday, Paypal launched Xoom, its international money transfer service in Canada. Canadian immigrants can now use Xoom to quickly and securely send money, pay bills and reload phones fast for loved ones living in more than 130 countries globally, including India and Pakistan. To send money abroad in a few simple steps, download Xoom’s mobile app on Android and IOS or go to Xoom.com. Canadian immigrant families remit nearly $24 billion annually to support family and friends back home.
“At Xoom, we are focused on making the process of sending money home to loved ones in another country fast and convenient for hardworking immigrants. Sending money abroad is often expensive and time consuming,” said Julian King, Xoom’s Vice President and General Manager. “Bringing Xoom’s digital remittance services to Canada will help eliminate these inconveniences so it’s fast and easy for Canadians to send bank deposits, reload prepaid phones and pay bills to support loved ones back home.” Canada is one of the world’s most diverse countries and is home to more than 7.5 million foreign-born people from more than 200 places of birth. Introducing Paypal’s Xoom will benefit more than one in five people living in Canada – many of whom support family members overseas for things like medical bills, education, utility bills and other financial needs. Xoom is one of the easiest and fastest ways to send money to South Asian countries at competitive rates, including: India, Bangladesh, Pakistan, Sri Lanka, and Nepal. Families in India who bank with PNB benefit from instant deposits, 365 days a year. For all other major bank accounts across the country, like ICICI, SBI and HDFC, transfers are deposited within four hours when sent during Indian banking hours. Families can also pickup their transactions instantly in cash, at over 50,000 locations across India. Xoom is one of the easiest and fastest ways to send money to South Asian countries at competitive rates, including Pakistan, India, Bangladesh, Sri Lanka and Nepal.
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