Xoom Changes the Game with “POWR”– Customers Pay Nothing Until Money Sent is Received by Their Loved Ones
Feel the POWR: “Pay Only When Received” — Another Xoom Innovation in Remittance
SAN FRANCISCO, CA, March 13, 2013 –Xoom Corporation (NASDAQ: XOOM), a global online money transfer provider, is launching POWR, or Pay Only When Received, a breakthrough initiative that gives customers assurance that Xoom will not withdraw a dime from their bank accounts until the money is received by their loved ones.
POWR is available beginning today to qualifying Filipino remitters who choose to send with their bank account. Xoom is unlike other money transfer companies in that Xoom will only withdraw the total amount of the money transfer once the money has arrived.
“With POWR, we show once again how Xoom is revolutionizing money transfers,” says Julian King, Xoom’s Senior Vice President of Marketing and Corporate Development. “When our customers send money and pay with their bank account, Xoom will not charge them until their loved ones get their padala. We believe in giving people ‘power’ for a convenient, safe and fast way to send money home.”
For 10 years, Xoom has been serving the Filipino community and pioneered instant bank deposits to the Philippines. POWR is Xoom’s latest product offering to give customers peace of mind and reassurance. Earlier this year, Xoom introduced its Filipino customers to StatusTrak an online tracking service that provides ways for people to track their transfer via SMS text messages, email updates and 24/7 phone support.
“When our customers send money, they want the peace of mind of knowing that their loved ones have safely received it,” King added. “Both POWR and StatusTrak provide very reassuring money transfer experiences with Xoom.”
Xoom is a global online money transfer provider, focused on helping consumers send money in a secure, fast and cost-effective way using their mobile phone, tablet or computer. During the year ended December 31, 2012, Xoom’s 750,000 active customers sent more than $3.2 billion to family and friends in 30 countries worldwide. The company is headquartered in San Francisco and can be found online at www.xoom.com.