PayPal brand Xoom expanded its global remittance service into Canada, the brand’s second market after the US.
Although Xoom has made fund transfers available to a number of new destinations since PayPal acquired the brand in late 2015, remittances could only be made from customers in the US.
Following the expansion, consumers in the US and Canada will be able to transfer cash from the app to 130 destinations across the world, including the three most popular remittance destinations of India, China and the Philippines.
Xoom figures show outbound remittances from Canada total $24 billion annually. The company said one in five people in Canada will benefit from its solution, adding it provides cheaper and faster transfers than traditional methods.Subscribe to our daily newsletter