Xoom’s Game-Changing “POWR” Expands to Latin America
POWR: “Pay Only When Received” — Customers Pay Nothing Until Money Sent is Received by Their Loved Ones
SAN FRANCISCO, CA, April 2, 2013 – Xoom Corporation (NASDAQ: XOOM), a global online money transfer provider, launched POWR (Pay Only When Received), to Filipino remitters last month. Today, Xoom announces that the breakthrough initiative is now available to qualifying remitters throughout Latin America and the Caribbean who choose to send with their bank account (https://www.xoom.com/pay-after-received). Xoom is unlike other money transfer companies in that, if the sender pays with a bank account, 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 to Latin America and the Caribbean,” 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 money. We believe in giving people ‘power’ for a convenient, safe and fast way to send money home.” POWR 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 Xoom’s latest product offering to give customers peace of mind and reassurance. Earlier this year, Xoom introduced its 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 more than 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.