PayPal is waxing stronger everyday with the new introduction of it’s international money transfers service Xoom. After bring it to United States and Canada, this service has been launched again in Britain and is available in 31 other countries in Europe.
PayPal Xoom service allows customers to transfer money abroad to more than 130 markets internationally, including India, Pakistan, Nigeria, Kenya, Poland, and China. According to the company; “Xoom customers can send up to EUR 10,000 in a single transaction,”.
Notably this service will help the company to grab market share in the $689 billion global remittances market. For instance, Britons alone transfer over $26 billion in remittances overseas annually, many sending money to help family members pay bills.
However, Xoom partners with major banks and other finance firms to facilitate the money transfers, with customers able to transfer up to GBP 8,800 ($11,029) per transaction.
How to Create PayPal Xoom Account
The PayPal Xoom account can be set up in a few easy steps via by using the Xoom iOS or Android app or log on to Xoom.com. Existing PayPal customers can use their PayPal account to access Xoom’s services, making it even quicker and easier to send money abroad.