PayPal unit Xoom signed a partnership with remittance company Ria Money Transfer to expand the number of locations its users can send money to, a deal which takes its reach to 70 per cent of the countries in the world.
In a statement Xoom, which provides overseas cash transfer from the US, said the partnership was a “landmark” for the company and would allow it to expand its presence in Africa and Eastern Europe.
Ria Money Transfer provides online services to 350,000 agents across 149 countries and is a subsidiary of US headquartered ATM and point of sale terminal company Euronet Worldwide.
The deal will give Xoom access to 86 markets where it had a limited or no presence. New destinations include Russia, Ukraine, Ivory Coast, Sudan and Ethiopia.
“With this expansion, Xoom now offers service to over 130 countries globally, including many countries that have limited access to digital remittance services,” Xoom general manager Julian King said.
Since acquiring Xoom in 2015, PayPal has set about expanding the reach of the service to allow remittance to several new markets including Japan and Australia.Subscribe to our daily newsletter Back