Xoom Corporation , also Xoom, PayPal Service is a digital money transfer or money transfer provider that allows consumers to remit money, pay bills and reload mobile phones from the United States to 70 countries -countries, including China, India, Bangladesh, Guyana, Pakistan, Mexico, Australia, Germany and the Philippines. The company was founded in 2001, based in San Francisco, CA, and has offices in Guatemala City, Guatemala. Xoom is a publicly traded company independently and initially supported by a venture company including Sequoia Capital, New Corporate Associations, SVB Capital, and Fidelity Ventures. On July 1, 2015, PayPal announced that it intends to spend $ 25 per share in cash, or about $ 1.09 billion, to acquire Xoom Corporation. The deal closes in November 2015.
Video Xoom Corporation
Money Remittance Service
Xoom offers money transfer services, especially from one person to another, in many countries around the world. Money is sent securely through desktop and mobile sites and mobile apps. Money sent by Xoom can be received in cash at the bank and other businesses depending on the receiving location, as well as with the deposit into the bank account. Users pay for services using funds paid through direct debit to US bank accounts, credit cards, or debit cards. Xoom costs vary by payment method. Direct debit payments to bank accounts are the least expensive, while the payment of fees by debit or credit card is much higher and partly based on the amount sent. Xoom recognizes that it also makes money on currency exchanges, but the exchange rate benefits many other alternatives. This service uses various methods to ensure the integrity of user accounts and to prevent fraud and money laundering. These methods include identity verification and limits on amounts that can be transferred per day, per month, and per 180 day period. Generally these limits make it difficult or impossible to use Xoom for large payouts. In addition, banks or businesses may impose their own limits on the amount that a person may receive within a certain period of time.
Maps Xoom Corporation
Xoom Mobile Reload
Customers can use Xoom to recharge prepaid cell phones in certain countries.
Payment and storage features of Xoom Bill
Customers can use Xoom to pay for electricity, phone, gas, and more bills in selected foreign countries. With the Xoom bank deposit service, consumers can send money directly to bank accounts in various countries, and the company also offers cash pickup services to choose foreign countries as well. Some countries also offer home delivery services.
Third Party Certification
Xoom is certified by TRUSTe as the license holder of TRUSTeÃ,® Seal Privacy Program, is an accredited business of the Better Business Bureau, and operates its website verified by the Verisign seal.
Funding
On September 28, 2007, Xoom closed its first round of E-series financing of $ 20 million. On March 25, 2010, Xoom closed the F-series financing round of $ 33 million. The company went public on February 15, 2013.
Industry Reviews
In June 2010, Xoom was cited in a study by the Inter-American Dialogue of 79 shipping service providers as "the highest consumer satisfaction ratings in transparency of costs, transparency of foreign currency exchange, and value".
In March 2011 and in September 2012, Xoom was listed on the Wall Street Journal's annual "Next Big Thing List" list of the 50 most promising venture firms.
In October 2012, in a follow-up survey by the Inter-American Dialogue of 51 money transfer service providers for the United States to the Latin American market, Xoom received the top score, using a variety of factors including the served country, cost, FX, networking, and inclusivity.
Acquisition by PayPal
On July 1, 2015, PayPal announced that it plans to acquire the company Xoom. PayPal intends to spend $ 25 per share in cash to get Xoom publicly traded, or about $ 1.09 billion. The deal closes in November 2015. The move reinforces PayPal's international business, giving it access to 1.3 million active US customers from Xoom that send about $ 7 billion in the 12 months ending March 31, 2015 to people in 38 countries.
See also
- Sequoia Capital
- Xoom (web hosting), the original owner of xoom.com
References
External links
- Xoom.com Website
- Pick Up Xoom Cash location
- Xoom Bill Pay
- Xoom Mobile Reload
Source of the article : Wikipedia
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