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

Tuesday, September 11, 2018

Xoom, PayPal’s international money transfer service, today announced a partnership with TransNetwork, an electronic payment processing platform, so Xoom customers in the United States can send money to loved ones for cash pickup at any OXXO location in Mexico. The first online-only remittance player to partner with Mexico’s largest chain of convenience stores, Xoom will add more than 17,000 cash pickup locations with this partnership, providing customers more convenience than ever as recipients can now choose from over 35,000 locations in the country.

“We’re thrilled to be the first online-only remittance provider to partner with OXXO,” said Julian King, Xoom’s Vice President and General Manager. “With this partnership, Xoom is furthering its mission to empower customers with the technology to send international money transfers quickly and securely so they can enjoy peace of mind knowing their loved ones have fast and convenient access to their funds.”

“The remittance service at OXXO is strengthened thanks to the alliance with Xoom and Transnetwork, with which we reaffirm our commitment with our customers by offering more options for the collection of remittances and thus contribute positively to the economic and social development of Mexico, especially in those states where these remittances are a large source of income,” said Asensio Carrión, director of financial and electronic services at OXXO.

Established in 2001 and acquired by PayPal in 2015, Xoom is a fast and secure way to send money, pay bills and reload phones for loved ones in more than 130 countries globally. These remittances serve as lifeline for many people around the world and are used to pay for things like utility bills, healthcare, education costs and emergencies. The largely cash-based system of sending money across borders is full of paperwork, high fees, standing in line and an ever-present uncertainty of when, and if, the money will arrive when it’s needed. By providing fast and secure payment options for customers to seamlessly send money across borders by going online or using a mobile device, PayPal and Xoom are helping to expand and improve the financial health of millions of people worldwide.

To send money internationally in a few simple steps, download Xoom’s mobile app on Android and iOS or go to xoom.com.

Photo courtesy of PresidenciaRD.