NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Thursday, July 18, 2019

By Tim Copeland

PayPal has launched its mobile payments app Xoom across Europe to provide faster and cheaper international transfers. It hopes the new offering with make it cheaper than traditional payment services and more convenient than sending crypto.

Xoom will let residents of 32 European countries send money to people in more than 130 countries worldwide–but if those recipients fall outside the 30-odd countries they can’t send money back.

Photo courtesy of Highways England.