Xoom and Vesta partner to offer international mobile money transfers

Source: Xoom

Xoom Corporation (Nasdaq:XOOM), a digital money transfer provider, and Vesta Corporation, a leading mobile payments provider, today announced a partnership to offer international money transfers using mobile devices.

The Vesta PayMobile™ wallet allows users to top-up their prepaid iPhone and Android devices with some of the largest carriers in the US. Through this partnership, the Vesta wallet will also provide subscribers with access to Xoom's money transfer services directly from their smartphone.

"This exciting partnership with Vesta will help Xoom continue to expand its mobile channels and provide a fast and convenient way to send money back home," says Julian King, Xoom's senior vice president of marketing and corporate development. "Mobile is one of Xoom's fastest growing access points, accounting for 28% of our total transactions in the first quarter of 2013."

Through the wallet app built by Vesta, users will be able to sign up for the Xoom service, and send money to friends and family in Latin America, the Philippines, India, Europe, Australia and South Africa from their smartphone.

"Xoom's global reach, unique pricing model and rapid delivery options are revolutionizing money transfer, making their transfer services a perfect fit for the Vesta PayMobile wallet," said Marshall Behling, Vesta's senior vice president market development. "Xoom's innovative approach to money transfer is giving prepaid smartphone subscribers a convenient, cost-effective way to send money to friends and family around the world."

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