PayPal launches Xoom across Europe

PayPal launches Xoom across Europe

PayPal is to launch its international money transfer Xoom across 32 European markets

Acquired by PayPal in 2015, Xoom allows people to send money, pay bills or top up phones to more than 130 markets internationally.

Already available in the US and Canada, the roll out across Europe is expected to increase PayPal's share of the $689 billion remittance market.

Dan Schulman, PayPal’s CEO and President, said: “The way we move and manage our money has changed dramatically in the last few years. We have moved beyond the days when the only option for sending money abroad was to queue at a counter for hours. With Xoom, someone with a smartphone on a bus in London, Paris or Berlin can send money that can be accessed quickly in Mumbai, Lagos or Nairobi.”

Xoom is available via a standalone mobile account or through the PayPal app.

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