Xoom

PayPal brand Xoom expanded its global remittance service into Canada, the brand’s second market after the US.

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.

Juniper Research tipped Facebook and PayPal to lead a global expansion of so-called social payments, a sector it predicted would help drive growth in digital commerce over the next four years.

The value of PayPal’s mobile transactions increased 51 per cent year-on-year in Q1 to $32 billion.

PayPal-owned mobile remittance service Xoom is set to expand its services into Japan, allowing its US customers to transfer money to the country using its mobile app and other connected devices.

PayPal intends to launch its mobile remittance service, Xoom, in Australia soon, it is reported, in what would be only its second country for outbound remittances after the US.

INTERVIEW: Everyone from Facebook and Google to some well-funded specialists are eyeing up mobile remittances, but CEO Eric Barbier tells Mobile World Live that TransferTo has found its own niche in a busy market.