xoom

Xoom is a digital remittance and cross-border money transfer service operating as a PayPal subsidiary since its acquisition in 2015 for approximately 890 million dollars. Founded in 2001 and headquartered in San Francisco, California, Xoom enables users to send money internationally to approximately 160 countries worldwide. The platform allows customers to transfer funds to recipients' bank accounts, debit cards, mobile wallets, or arrange cash pickup and home delivery options in over 70 countries. Xoom targets individuals sending remittances to friends and family abroad, positioning itself as a specialized alternative to PayPal's broader payment services. The service integrates with PayPal accounts, allowing users to access Xoom functionality through PayPal's website, mobile app, or the dedicated Xoom platform at xoom.com. Users can fund transfers through various payment methods linked to their PayPal accounts. Xoom generates revenue through transaction fees and exchange rate markups applied to the mid-market rate. In recent years, Xoom has expanded its payment options, including introducing PayPal USD stablecoin as a funding source in 2024 with no transaction fees for eligible transfers. The platform has formed partnerships with major payment providers including Tencent's Weixin Pay and previously with Alipay to facilitate remittances to China. Xoom services are available to users in the United States, Canada, and Europe, with most transactions completing within minutes. The company is licensed and regulated in the US and operates under PayPal's security infrastructure, including data encryption and fraud monitoring. Reports in 2023 and 2025 suggested PayPal was considering divesting Xoom amid pressure from activist investors, though the service continues to operate as part of PayPal's portfolio.