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12
Nov

PayPal Completes Acquisition of Xoom

PayPal to Enter International Remittances Market with Leading Technology Platform

SAN JOSE, Calif. & SAN FRANCISCO – PayPal, Inc. (NASDAQ:PYPL) and Xoom Corporation (NASDAQ:XOOM) today announced that PayPal has completed its previously announced acquisition of Xoom. In accordance with the terms of the acquisition agreement announced on July 1, 2015, PayPal acquired all of the outstanding shares of Xoom for $25 per share in cash.

Xoom will operate as a separate service within PayPal under the continued leadership of John Kunze, who has joined PayPal’s executive staff and will report to PayPal CEO Dan Schulman.

Xoom is a secure, fast and affordable way to send money to, and pay bills for, family and friends around the world, using a mobile phone, tablet or computer. With Xoom, PayPal has access to 1.5 million active U.S. customers that sent approximately $7.1 billion in the 12 months ending on September 30, 2015 to people in 40 countries such as Mexico, India, the Philippines, China and Brazil. Beyond its global reach, Xoom has a loyal, mobile-savvy customer base, with 97 percent of its payment volume coming from repeat users and 60 percent of its active users on mobile.

PayPal and Xoom are well-positioned to democratize the management and movement of money. By combining PayPal’s global scale with Xoom’s capabilities, the companies plan to create simpler, more secure and faster ways for more people to send and access their money. Through this acquisition, Xoom will help accelerate PayPal’s entrance into the international remittances market, while PayPal will help expand Xoom’s services to more people in more places around the globe.

PayPal also announced that there will be no changes to its full year 2015 guidance issued on October 28, 2015 based on the acquisition. As previously announced, for full year 2016, PayPal expects the acquisition to be slightly dilutive to its non-GAAP earnings per share.

About PayPal
At PayPal (Nasdaq: PYPL), we put people at the center of everything we do. Founded in 1998, we continue to be at the forefront of the digital payments revolution, last year we processed 4 billion payments, of which 1 billion were made on mobile devices. PayPal gives people better ways to connect to their money and to each other, helping them safely access and move their money and offering a choice of how they would like to pay or be paid. With our 173 million active customer accounts, we have created an open and secure payments ecosystem that people and businesses choose to securely transact with each other online, in stores and on mobile devices. PayPal is a truly global payments platform that is available to people in 203 markets, allowing customers to get paid in more than 100 currencies, withdraw funds to their bank accounts in 57 currencies and hold balances in their PayPal accounts in 26 currencies. For more information on PayPal, visit about.paypal-corp.com. For PYPL financial information visit investor.paypal-corp.com.

About Xoom
Xoom is a leading digital money transfer provider that enables consumers to send money, pay bills and send prepaid mobile phone reloads for family and friends around the world in a secure, fast and cost-effective way, using their mobile phone, tablet or computer. During the 12 months ended September 30, 2015, Xoom’s 1.5 million active customers sent approximately $7.1 billion with Xoom. The company is headquartered in San Francisco and can be found online at Xoom.com.

Contacts
PayPal, Inc.
Investors:
Tracey Ford,
Senior Director, Investor Relations
tford@paypal.com
or
Media:
Martha Cass, 416-860-6213
Director, Corporate Communications
mcass@paypal.com

14
Sep

Xoom Launches Money Transfer Service to Singapore

Xoom Customers Can Conveniently, Safely and Economically Send Money to Loved Ones in Singapore

SAN FRANCISCO–(BUSINESS WIRE)– Xoom Corporation (NASDAQ:XOOM), a leading digital money transfer provider, announced today the launch of its money transfer service to Singapore. Xoom customers can now send money online to bank accounts in Singapore via their U.S. bank accounts, credit cards or debit cards. Money can be sent to 10 local banks in Singapore, including DBS, POSB, UOB, OCBC and Standard Chartered Bank, and deposited into the recipient’s account.

“We are so excited to offer our money transfer services to customers with family and friends in Singapore,” said Iain Allison, Vice President of Business Development at Xoom. “We look forward to delivering convenient, safe, and economic service to the Singapore market. Our friends from Singapore will experience the most caring and responsive customer service anywhere 24/7/365, with live customer service representatives ready to take their calls any time of day or night. Plus, our service is absolutely risk-free – your money arrives or Xoom offers a money-back guarantee.”

When paying with a bank account, Xoom customers can send up to US$2,999 to Singapore for just US$4.99. Money can be sent via computers, tablets, or mobile phones. Customers can download Xoom’s app for Android and iOS mobile devices for free and, with Xoom’s convenient StatusTrack feature, senders and recipients both receive SMS text messages with real-time updates on the status of the transfer. The Xoom mobile app also offers Apple’s ground-breaking Touch ID technology, which enables customers to use their fingerprint data to sign in to the Xoom application on the iPhone 5s, 6 and 6 Plus.

Visit Xoom.com/singapore for more information.

About Xoom
Xoom is a leading digital money transfer provider that enables consumers to send money, pay bills, and send prepaid mobile phone reloads for family and friends around the world in a secure, fast, and cost-effective way, using their mobile phone, tablet, or computer. During the 12 months ended June 30, 2015, Xoom’s more than 1.4 million active customers sent approximately $6.9 billion via the Xoom platform. The company is headquartered in San Francisco and can be found online at Xoom.com.

31
Aug

Do you have a mobile wallet?

We’re living a fast-paced lifestyle so much of the time these days that it’s sometimes difficult to know what the new technology offers. Or how to make it work. Or what to do with it.

Payments and tech is one area that’s really taking off. It used to be that paying for products or services with cash or a check was the only option. But that was before the advent of credit cards. Now, many of us are holding on for the next way to pay. It’s already here. It’s your mobile device. Banks, start-ups, regulators and mobile service providers are all working together to integrate mobile payments into our everyday lives by having a debit or credit card on every mobile carrier.

It’s called a mobile wallet. Xoom, a leading digital money transfer provider, thought it would be useful to find out more, so Xoom conducted an exclusive survey of some of its Fil-Am clients and asked each one if they have a mobile wallet.

As it turns out, only 17 percent of the respondents said that they do have a mobile wallet, while 59 percent answered that no, they do not. And then 24 percent said they don’t know what a mobile wallet is.

6
May

What gifts will you give Mom on Mother’s Day?

How do we say thank you to our mothers? Probably the best way is to simply say it, then hug her and tell her you love her. But there are other ways to express your love for your mom, especially on her special day – and it’s coming up. Mother’s Day is May 10.

Sure, it’s customary to send gifts to moms on Mother’s Day, but what exactly does that include? The options are many. Xoom, a leading digital money transfer provider, thought it would be interesting to conduct a survey of its Fil-Am customers and find out what kind of gifts moms will receive on Mother’s Day.

The most popular choice in the survey was to send a gift of money, so 42 percent of the respondents said that’s what they would send their mother. And there’s no better quick, safe and convenient way than Xoom to send money back home to mom for Mother’s Day.

Some others answered the survey in a different way: 30 percent said their Mother’s Day gift would be to take her out to a restaurant. Mom is getting flowers for a gift from 25 percent who answered the survey and 20 percent said a Mother’s Day card is the gift they’re giving to their mom.

9
Mar

Xoom Expands Instant Money Transfer Service to Most Banks in Pakistan in Partnership with HBL

SAN FRANCISCO, CA, March 9, 2015 – Xoom Corporation (NASDAQ: XOOM), a leading digital money transfer provider, now offers instant deposits to most banks in Pakistan via HBL. Pakistanis in the U.S. can now use Xoom to instantly send money to their loved one’s rupee account anytime, anywhere, using any device. Xoom’s instant service is  available 24 hours a day, seven days a week, 365 days a year, including bank holidays.

Xoom has partnered with HBL, one of the the largest banks in Pakistan, to broaden its instant deposit service to most banks, including MCB Bank Limited, Allied Bank, Bank Alfalah, United Bank Limited (UBL), Standard Chartered Bank, and many more.

“When Xoom launched in 2001, our mission was to make international money transfers faster, easier, and more transparent,” said Julian King, Senior Vice President of Marketing and Corporate Development for Xoom. “Now, by expanding our instant deposit service to most banks throughout Pakistan, we’ve delivered on that promise to even more customers.”

Speaking at the launch ceremony, Mr. Hassan Raza, Group Head – Structured Credits & Global Remittance Business of HBL said, “I am delighted to announce HBL’s partnership with Xoom Corporation, where we are providing remittance services with instant credit to account holders of HBL and other banks in Pakistan. This is yet another milestone for HBL. We will continue to deliver the promise of providing HBL customers the ease and convenience of remitting money from US to their loved ones back in Pakistan.”

Xoom customers sending money to Pakistan can rely on secure, convenient, and cost-effective money transfers every day of the year – including bank holidays. When paying with their bank account, customers can send up to $1,000 for just $4.99, and transfers are fee-free for transactions over $1,000. They can also send money on the go with Xoom’s app for Android and iOS mobile devices. Visit Xoom.com/Pakistan for more information.

About Xoom
Xoom is a leading digital money transfer provider that enables consumers to send money and pay bills for family and friends around the world in a secure, fast, and cost-effective way, using their mobile phone, tablet or computer. During the 12 months ended December 31, 2014, Xoom’s more than 1.2 million active customers sent approximately $6.9 billion with Xoom. The company is headquartered in San Francisco and can be found online atXoom.com.

About HBL
As Pakistan’s worldwide bank, HBL offers banking solutions to customers in 29 countries spanning across four continents. Its tradition of personalized service and capacity to respond to customer needs makes HBL the largest bank in the country for cross-border trade and remittances.

Through a robust network of 1,547 branches across Pakistan, HBL pursues financial inclusion with vigor. Its 1400+ ATM’s nationwide offer unmatched convenience. The bank maintains the lead in providing solutions through alternate delivery channels.

HBL continues to expand its franchise and enhance its capacity through a balanced approach to capital preservation and growth. At HBL, banking is offered beyond borders.

18
Feb

Xoom Announces Instant Deposit and Cash Pickup Services with Banco Agrícola, the Largest Bank in El Salvador

Money can be deposited instantly into any Banco Agrícola account, 24 hours a day, seven days a week, 365 days a year

SAN FRANCISCO, CA, February 9, 2015 – Xoom Corporation (NASDAQ: XOOM), a leading digital money transfer provider, and Banco Agrícola, the largest bank in El Salvador, have collaborated to offer instant bank deposits to all Banco Agrícola accounts, as well as a cash pickup service.  These new services allow Xoom customers to instantly send money directly into any Banco Agrícola account or have recipients pick up cash at more than 80 Banco Agrícola locations throughout El Salvador.

“Xoom is committed to providing ‘instant’ services, and we’re pleased to launch instant deposit with the largest bank in El Salvador,” said Julian King, Xoom’s Senior Vice President, Marketing and Corporate Development. “People can choose from two convenient ways to send money — instant deposit or cash pickup. Through our collaboration with Banco Agrícola, customers can rest assured that their loved ones can receive money without waiting or having to be mindful of cut-off times.  Xoom customers can send 24 hours a day, seven days a week, every day of the year from their computer, mobile phone, or tablet.”

Xoom customers can send money for cash pickup at any Banco Agrícola location, which are generally open Monday to Friday, from 9:00 a.m. to 4:00 p.m.

You can send money to El Salvador 24 hours a day, seven days a week, from any internet connected device. From there, they can quickly and easily deposit money or send cash to any Banco Agrícola location.

About Xoom
Xoom is a leading digital money transfer provider that enables consumers to send money to and pay bills for family and friends around the world in a secure, fast and cost-effective way, using their mobile phone, tablet or computer. During the 12 months ended December 31, 2014, Xoom’s more than 1.2 million active customers sent approximately $6.9 billion with Xoom. The company is headquartered in San Francisco and can be found online at Xoom.com.

18
Feb

Xoom anuncia los servicios de Depósito Instantáneo y Pago en Ventanilla en el Banco Agrícola, el banco más grande de El Salvador

El dinero puede ser depositado al instante en cualquier cuenta en el Banco Agrícola, 24 horas al día, siete días a la semana, 365 días al año

 SAN FRANCISCO, CA, 17 de febrero de 2015 – Xoom Corporation (NASDAQ: XOOM), un proveedor líder de transferencias digitales de dinero y, Banco Agrícola, el banco más grande de El Salvador, han colaborado para ofrecer depósitos instantáneos en todas las cuentas en el Banco Agrícola y además el servicio de Pago en Ventanilla. Estos nuevos servicios permiten a los clientes de Xoom enviar dinero al instante, directamente a cualquier cuenta en el Banco Agrícola, o que sus destinatarios puedan retirar el dinero en más de 80 sucursales del Banco Agrícola en todo El Salvador.

“Xoom está comprometida en la oferta de servicios “instantáneos” y, estamos contentos de lanzar el depósito instantáneo con el banco más grande de El Salvador”, dijo Julian King, Vicepresidente Senior de Mercadeo y Desarrollo Corporativo de  Xoom. “La gente puede escoger entre dos manera convenientes de enviar dinero – depósito instantáneo o pago en ventanilla. Debido a nuestra colaboración con el Banco Agrícola, los clientes pueden estar tranquilos de que sus seres queridos pueden recibir el dinero sin esperas y sin tener que estar pendientes de las horas de cierre. Los clientes de Xoom pueden hacer sus envíos 24 horas al día, siete días a la semana, cada día del año, desde sus computadores, teléfonos móviles o tabletas”.

Los clientes de Xoom pueden enviar dinero para pago en ventanilla en cualquier Sucursal del Banco Agrícola, las cuales generalmente abren de lunes a viernes, desde las 9:00 a.m. hasta las 4:00 p.m.

Puedes enviar dinero a El Salvador las 24 horas del día, siete días a la semana, desde cualquier dispositivo conectado a Internet. Desde allí, pueden depositar el dinero o enviarlo, rápida y fácilmente, a cualquier sucursal del Banco Agrícola.

Acerca de Xoom
Xoom es un proveedor líder de transferencias digitales de dinero que habilita a los consumidores en los Estados Unidos para enviar dinero y pagar facturas alrededor del mundo de modo seguro, rápido y eficiente, usando sus celulares, tabletas o computadores. Durante los 12 meses terminados el 31 de diciembre de 2014, los más de 1,2 millones de clientes activos de Xoom, enviaron aproximadamente $6.900 billón a familiares y amigos. La compañía tiene su sede en San Francisco y se encuentra en línea en Xoom.com.

22
Jan

Xoom Announces Touch ID for Mobile Money Transfers

Xoom customers can use their fingerprint to sign in to the mobile app.

SAN FRANCISCO, CA, Jan. 22, 2015 — Xoom Corporation (NASDAQ: XOOM), a leading digital money transfer provider, today announced that it will incorporate Apple’s Touch ID technology into their mobile money transfers application. This gives customers the option to use their fingerprint data to sign in to the Xoom application on the iPhone 5s, 6 and 6 Plus. The Xoom App with Touch ID is available at the Apple AppStore.

Xoom has always placed safety and security as a top priority; and now with Touch ID on the Xoom Mobile App, this presents an enhanced customer experience with authentication that is simple and highly secure,” said Joe Raymond, Xoom’s Vice President of Product. “In keeping with our mission of creating a seamless customer experience across our platform, Touch ID will make it faster and easier for our customers to send money from the Xoom App, without having to type in a password.”

Touch ID is a fingerprint identity sensor that is located in the Home button of select Apple devices. Touch ID takes a high-resolution image of the user’s fingerprint and then analyzes it in order to create its mathematical representation. The data points generated through the analysis are stored locally on the user’s device, and are used for comparison with fingerprint data captured through any subsequent Touch ID usage.

During log in, Xoom’s Mobile Application determines whether the Xoom customer has enabled Touch ID on their device. If the service is enabled, the customer is asked if they want to use Touch ID for subsequent logins. If the customer agrees, they can then authenticate with nothing more than their fingerprint on all future logins. Even if the Xoom customer chooses not to make use of Touch ID at this time, they can always enable the service manually through the Xoom application’s Settings menu.

During the nine months ended September 30, 2014, 49 percent of the total number of transactions was sent via mobile devices as compared to 32 percent in the same period in the prior year. During the nine months ended September 30, 2014, more than $1.6 billion of Xoom’s gross sending volume was sent from mobile devices which represented growth of approximately 99 percent compared to the same period in the prior year.   As of September 30, 2014, 55 percent of Xoom’s active customers have transacted at least once via a mobile device during the last twelve months as compared to 42 percent, September 30, 2013.

Spanish Language App
Xoom offers customers a Spanish-language experience on its App, desktop and mobile sites and via Xoom’s 24-hour customer care center. In addition to fast and simple money transfers on-the-go, Xoom customers can use the App to track the status of their money transfer as their money moves to their loved ones.  Other key features of the Xoom App include the ability to review Xoom’s low fees, check exchange rates, contact customer service and access links to other Xoom services.
The Xoom App is available at the Apple AppStore and Google Play.

About Xoom

Xoom is a leading digital money transfer provider that enables consumers in the United States to send money and pay bills around the world in a secure, fast and cost-effective way, using their mobile phone, tablet or computer. During the 12 months ended September 30, 2014, Xoom’s more than 1.2 million active customers sent approximately $6.5 billion to family and friends. The company is headquartered in San Francisco and can be found online at Xoom.com.