PayPal launches Xoom in Ireland
PayPal launched Xoom, your worldwide cash exchange service, in Ireland. It enables people in Eire to send cash, pay payments and high telephones in more than 130 markets internationally.
The launch of Xoom is an important milestone and serves as another instance of PayPal’s efforts to make the movement and management of cash more practical, accessible, secure, and reasonably priced.
The global remittance market is an estimated $ 689 billion trade, and the Irish send more than $ 2.5 billion a year. Eire is home to more than half a million non-Irish citizens, many of whom help family members abroad with matters such as medical payments, education, utility payments and various monetary needs.
According to the most recent figures from the World Bank, the highest locations for cash transfers from Ireland are Nigeria ($ 539 million), the United Kingdom ($ 270 million), Poland ($ 232 million), France ($ 160 million) ), Lithuania ($ 131 million). ) and India ($ 115 million).
Traditionally, the pace of safely and efficiently transferring cash across borders has been gradual, yet advances in digital know-how, particularly cell phones, are allowing for a steep discount on switching time. The introduction of Xoom enables family members in these countries to quickly obtain cash when sent to a bank account or to withdraw it in cash.
XOOM in Eire
Dan Schulman, President and CEO of PayPal, stated:
“The best way we transfer and handle our cash has changed dramatically in recent years. Now we are past the days when the only possibility to send cash abroad was to stand in line at a counter for hours. Even in 2019, however, it takes too long to bring cash from European nations to a loved one abroad.
“We know how important these money transfers are in the lives of millions of people and how crucial it is that the money arrives quickly so that it can be used for important things. With Xoom in Ireland, someone with a smartphone on a bus in Dublin, Limerick or Dundalk can send quickly accessible money in Mumbai, Lagos or Nairobi to pay for a family member’s medical emergency or urgent financial needs “.
A fast, practical and safe method to help family and friends abroad.
Xoom customers can send up to € 25,000 in a single transaction. A Xoom account can be organized in a few easy steps through the Xoom app for iOS or Android or Xoom.com. Existing PayPal customers can use their PayPal account to log into Xoom businesses, making it even faster and easier to send cash abroad.
PayPal customers can also use bank accounts linked to their PayPal account to exchange funds along with the bank and debit card options accessible through Xoom. Depending on the receiving nation, customers can choose from a variety of options: deposit cash in a bank account, send cash for withdrawal, or receive cash at the recipient’s door. Xoom transfers can be tracked shortly and simply by textual content updates, email notifications, or instantly from the mobile app and website. Those who send cash abroad can get answers to their questions from the buyer support staff in English, French, Spanish, Italian, German, Filipino and Arabic.
Xoom joins leading banks and companies around the world to provide faster and more secure cash transfers to key remittance brokers such as India, Pakistan, Nigeria, Kenya, Poland and China, as well as to different nations in Europe, Asia, North America, South America and Africa.
To send cash abroad with Xoom in just a few easy steps, get the Xoom mobile app on Android and iOS or go to Xoom.com and simply set up an account or log in with a PayPal account.
PayPal has been at the forefront of the digital fees revolution for more than 20 years. By leveraging insights to make money businesses and commerce more practical, reasonably priced, and secure, the PayPal platform is empowering more than 295 million customers and retailers in more than 200 markets to engage and thrive within the financial system. world. For more information, visit paypal.com.