PayPal’s international money transfer service Xoom has collaborated with Euronet Worldwide subsidiary Ria to to accelerate global expansion in 86 countries.
Image: Countries where Xoom offers service across the globe. Photo: courtesy of Business Wire.
Under the deal, the partnership will provide Xoom customers with cash pick-up service at over 150,000 of Ria’s international network locations.
The collaboration will enable Xoom to expand its operations in Eastern Europe and Africa, and will help customers in the US to send money to 70% of countries across the world via online or using mobile phone.
Founded in 2001, Xoom is a fast and secure way to send money, pay bills and reload phones for people in more than 130 countries across the globe.
The service is being used for things such as utility bills, healthcare, education costs and emergencies.
Xoom vice president and general manager Julian 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.”
Ria provides fast and secure money transfers through a network of about 355,000 global agents spreading in 150 countries.
Ria president and CEO Juan Bianchi said: “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.”
With more than 244 million active account holders, PayPal’s open digital payments platform enables to connect and transact in various ways, including online, mobile device and app.
Available in more than 200 markets across the world, the PayPal platform, including Braintree, Venmo and Xoom, allows onsumers and merchants to secure money in over 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies.