Customers who want to send money to their loved ones from Canada to more than 130 countries can now do so through Xoom money transfer service. PayPal, the parent company of Xoom has now added Canada aside from the US, where money transfer can be initiated from.
Xoom is a money transfer service owned and operated by PayPal. It allows you to send money, recharge your mobile phone, and pay bills in more than 130 countries. Per VentureBeat, Xoom takes 3.39 percent cut from every transaction carried out.
Apparently, the birth of Xoom in Canada will mark the beginning of a wider and global rollout as PayPal seeks to take the service outside of the US. Details of which markets would be the next remain sketchy, it is almost certain that the money transfer service is going to other markets in the coming months.
“The traditional methods of sending money abroad are slow, expensive and stressful for both the sender and the receiver,” Xoom’s VP and general manager Julian King said per VentureBeat. “Senders are often faced with worry about when, or if, their money will reach their loved ones. As a disruptive digital remittance provider, Xoom is helping to eliminate these inconveniences so it’s fast and easy for Canadians to send money abroad for cash pickups, bank deposits, reloading prepaid phones and paying bills for loved ones back home — all from the comfort of their homes or from their mobile devices.”
Xoom users in Canada will be able to send up to $12,500 CAD in just one transaction to over 130 supported countries. Recipients will be able to receive their money either directly from their bank accounts or as cash for pick-up or delivery. If you are a PayPal user in Canada, you can log in to Xoom with your PayPal credentials.
In 2017, Skype and PayPal collaborated to make p2p payment easier for users in 22 countries across the world. The payment feature which was rolled out in United States, United Kingdom, Austria, Belgium, Canada, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Luxembourg, Malta, Netherlands, Portugal, San Marino, Slovakia, Slovenia and Spain, is available to Skype customers on iOS and Android mobile devices.
Users in aforementioned countries can send and receive money from friends and loved ones without leaving the app. This can be done even during conversation. You can use your mobile phone by simply swiping right, and tapping the “Send Money button, and the transfer process will be completed.
As a first time user of the “Send Money” feature, Skype will require that you confirm your location. If the feature [Send Money] is available in your location, you will be required to link your PayPal account to your Skype profile. Your transaction won’t take more than a couple of minutes as PayPal will be responsible for completing the process.
If a user who resides in the US wants to send money to a friend in a supported country in Europe, the Send Money feature allows payment to be made in Euros.