 | This article contains content that is written like an advertisement .(June 2023) |
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| Company type | Money transfer |
|---|---|
| Industry | Banking |
| Founded | 2001 |
| Headquarters | San Francisco, California, U.S. |
| Services | electronic funds transfer remittance provider |
| Parent | PayPal, Inc. |
| Website | xoom |
Xoom Corporation (also known as Xoom, a PayPal Service) is an electronic funds transfer and remittance provider.
Xoom Corporation was founded in 2001 and has its headquarters in San Francisco, California. [1]
In June 2010, Xoom was cited in a study by the Inter-American Dialogue of 79 remittance service providers, as having amongst the highest consumer satisfaction ratings. [2]
In March 2011, and in September 2012, Xoom was listed in the Wall Street Journal's annual "Next Big Thing List" list of the 50 most promising venture-backed companies. [3] [4]
In October 2012, in a follow-up survey by the Inter-American Dialogue of 51 remittance service providers for the US to Latin America market, ranked Xoom top for fees charged and countries served. [5]
On September 28, 2007, Xoom closed a first E-series round of financing for $20 million. Peter Thiel was an early investor in Xoom Corporation. [6] Xoom went public on February 15, 2013. [7] In November 2015, PayPal acquired Xoom for $25 a share, to a total of about $1.09 billion. [8] [9]
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system in the majority of countries that support online money transfers; it serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial users, for which it charges a fee.
MoneyGram International, Inc. is an American interstate and international peer-to-peer payments and money transfer company headquartered in Dallas, Texas. It has an operations center in St. Louis Park, Minnesota, and regional and local offices around the world.
Roelof F. Botha is a South African actuary, venture capitalist and company director.
Sequoia Capital is an American venture capital firm headquartered in Menlo Park, California which specializes in seed stage, early stage, and growth stage investments in private companies across technology sectors. As of 2022, the firm had approximately US$85 billion in assets under management.
Xoom was an early dot-com company that provided free unlimited space web hosting, similar to GeoCities. The domain "xoom.com" is now held by the Xoom Corporation, an international-focused money transfer website run by PayPal.
Billpoint was the name of a person-to-person money transfer service founded in 1998, and purchased in 1999 by online auctioneer eBay.
The 'Economy of the Caribbean' is varied, but depends heavily on natural resources, agriculture and travel and tourism.
A remittance is a non-commercial transfer of money by a foreign worker, a member of a diaspora community, or a citizen with familial ties abroad, for household income in their home country or homeland. Money sent home by migrants competes with international aid as one of the largest financial inflows to developing countries. Workers' remittances are a significant part of international capital flows, especially with regard to labor-exporting countries.
The Inter-American Dialogue, also known as the Dialogue or IAD, is a U.S.-based think tank in the field of international affairs primarily related to the Western Hemisphere. Headquartered in Washington, D.C it intends to "foster democratic governance, prosperity, and social equity in Latin America and the Caribbean". The Dialogue's research areas focus on the rule of law, education, migration, remittances, energy, climate change and extractive industries.
Indonesians in Hong Kong, numbering 102,100, form the second-largest ethnic minority group in the territory, behind Filipinos. Most Indonesians coming to Hong Kong today are those who arrive under limited-term contracts for employment as foreign domestic helpers. The Hong Kong Immigration Department allows the Indonesian consulate to force Indonesian domestic helpers to use employment agencies. Indonesian migrant workers in Hong Kong comprise 2.4% of all overseas Indonesian workers. Among the Indonesian population is a group of Chinese Indonesians, many of them finding refuge in Hong Kong after the civil persecution of them.
Euronet Worldwide is an American provider of global electronic payment services with headquarters in Leawood, Kansas. It offers automated teller machines (ATM), point of sale (POS) services, credit/debit card services, currency exchange and other electronic financial services and payments software. Among others, it provides the prepaid subsidiaries Transact, PaySpot, epay, Movilcarga, TeleRecarga and ATX.
The "PayPal Mafia" is a group of former PayPal employees and founders who have since founded and/or developed additional technology companies based in Silicon Valley such as Tesla, Inc., LinkedIn, Palantir Technologies, SpaceX, Affirm, Slide, Kiva, YouTube, Yelp, and Yammer. Most of the members attended Stanford University or University of Illinois Urbana-Champaign at some point in their studies.
Bump was an iOS and Android mobile app that enabled smartphone users to transfer contact information, photos and files between devices. In 2011, it was #8 on Apple's list of all-time most popular free iPhone apps, and by February 2013 it had been downloaded 125 million times. Its developer, Bump Technologies, shut down the service and discontinued the app on January 31, 2014, after being acquired by Google for Google Photos and Android Camera.
WePay is an online payment service provider based in the United States. It provides an integrated and customizable payment solution, through its APIs, to platform businesses such as crowdfunding sites, marketplaces and small business software companies. It also offers partners fraud and risk protection.
Eventbrite is an American event management and ticketing website. The service allows users to browse, create, and promote local events. The service charges a fee to event organizers in exchange for online ticketing services, unless the event is free. In September or October 2023, Eventbrite changed their pricing plans to limit free events to 25 tickets before they would begin to charge organizers fees.
Ria Money Transfer is a subsidiary of Euronet Worldwide, Inc., which specializes in money remittances. Ria initiates transfers through a network of agents and company-owned stores located throughout North America, South America, Europe, Asia-Pacific, Africa, and online. Ria is one of the big four remittance companies.
Kevin Hartz is an American businessman in the technology industry. He is the co-founder of Xoom, and was the CEO from 2001 to 2005.
International money transfers made by migrant workers and immigrants sending a portion of their earnings to their families in their country of origin are known as remittances. Remittances are an important aspect of the global economy, totaling an estimated $601 billion (USD) for the year 2015. The United States is currently the largest source of international remittances in the world, sending a total of $148 billion in 2017. Mexico received the largest portion of these remittances, accounting for more than $30 billion USD. making the U.S.-Mexico remittance corridor one of the largest in the world. With the exception of the 2008 global financial crisis, remittances sent from the U.S. have been consistently climbing for the past half century. This major increase in remittances can be partially attributed to the larger population of immigrants and migrant workers, as well as to increasing globalization in the financial and money markets. China and India are also major recipients of U.S. remittances, and are the top two recipients of remittances globally.
PayU is a Netherlands-based payment service provider to online merchants. The company was founded in 2002, and is headquartered in Hoofddorp. It allows online businesses to accept and process payments through payment methods that can be integrated with web and mobile applications. As of 2018, the service is available in 17 countries. The firm is owned by the Naspers Group, which also owns a stake in one of its sister companies, Tencent.
bKash is a mobile financial service (MFS) in Bangladesh operating under the authority of Bangladesh Bank as a subsidiary of BRAC Bank PLC. This mobile financial service company started as a joint venture between BRAC Bank Limited, and Money in Motion LLC. As a mobile financial service (MFS) provider in Bangladesh, bKash users can transfer money into their mobile accounts and then access a range of services. In particular, transferring and receiving money domestically and making payments. Services like mobile recharge prepaid and postpaid package internet service Value Added Service Customer Service or paying utility bills are also possible through bKash USSD (*247#) and bKash App. A user can receive remittance on bKash. In November 2021, bKash became the first ever unicorn startup company in Bangladesh. In May 2023, bKash became the regional sponsors of the Argentina Football Association.
Online remittance providers | |
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