Inter-American Dialogue’s Remittances Scorecard 2016 Ranks Xoom Amongst Top Money Transfer Companies Serving Latin America and the Caribbean
Today, we’re excited to share that Washington DC think tank, Inter-American Dialogue, ranked Xoom as one of the top money transfer companies serving Latin America and the Caribbean (LAC) for the third consecutive time. For the past 10 years, Inter-American Dialogue has produced an analysis of the LAC remittance market as part of its Scorecard Project. The project, now on its fourth iteration, has become an important industry reference for market developments; costs of sending money to the region; financial inclusion; competition and available products.
The 2016 Scorecard took a look at the top players in the industry, including 30 remittance service providers, which combined handle 90% of the 14 million monthly transfers to eleven LAC countries. Through an analysis of twelve indicators, including transfer costs, payment networks and consumer support, the report presents a ranking of competition across the U.S. money transfer industry.
Overall, Xoom ranked number one amongst the industry players, with a combined score of 40 out of a total possible score of 48, as measured by the following indicators:
The combined results showed that Xoom was amongst the top performers and maintained its ranking from 2012. Xoom was recognized for the number of countries we operate in; extensive network of operations that also reaches rural areas; and quality customer support.
According to the report, remittances to Latin America and the Caribbean (LAC) exceeded US$70 billion dollars in 2015 and are expected to grow by more than 5% this year – contributing to economic development in the region. Through new innovations and advances in the money transfer industry, consumers have benefited from lower costs; a wider range of financial products; and new opportunities for financial inclusion.
Inter-American Dialogue presented the findings today during a session with Dr. Manuel Orozco, Director, Inter-American Dialogue, Xoom’s Gene Nigro, Viaamericas’ Paul Dwyer, and Barri International’s Alberto Laureano in Washington D.C. The full report, along with the Scorecard variables and metrics, can be found here.
Introducing a New ‘Request’ Feature for Money Transfers, Bill Payments and Mobile Reloads for Loved Ones Abroad Using Xoom
By Julian King, Chief Marketing Officer and Head of Business Development, Xoom
At Xoom, PayPal’s digital money transfer service, we aim to make sending and receiving money a better experience for everyone involved. However, senders of remittances have carried most of the heavy load. Not just in generating income, but also figuring out the fastest and most convenient way to send funds. Recipients on the other end, are limited in the ways they can help make it easier. Today, we’re excited to announce a new ‘request’ feature that was especially designed with remittance recipients in mind. For the first time, users outside of the U.S. can use Xoom to easily send a ‘request’ to their loved ones in the U.S. for a money transfer, bill payment, or a mobile reload.
No more wondering what the best location is for your money transfer or having to write down complicated account information and potentially delaying payments to your loved ones because of mistakes; no more calls to check account numbers for bill payments or mobile reloads.
Now this information can be directly entered by recipients and saved on their accounts for future requests. They know what they need, when and where they need it; they know their account numbers, so why not let them make the ‘request’? After you receive a request, all you need to do is accept it and send.
Here’s how it works:
Recipients and senders benefit in a number of ways:
- Request Money –it’s easy for recipients to remind family members in the U.S. about key events as a prompt to send money. Funds can be requested for cash pick-up at any local pay-out partner listed on Xoom’s site.
- Request a Mobile Reload – send a mobile reload request to loved ones in the U.S. to get airtime credit on your prepaid mobile phone.
- Request Bill Pay – request family or friends to pay your bills, such as your electricity and phone-line bills.
With the new ‘request’ feature, more control is in the hands of remittance recipients who now are a part of the process and have an easy and convenient way to manage this important line of financial support. There is no charge for making a request; it takes just a few easy steps and recipients can make requests 24/7 on the web from any mobile phone, tablet or computer.
Presentamos la Nueva Función ‘Solicitar’ para Recepción de Remesas, Pago de Servicios y Recargas Telefónicas para Seres Queridos en el Exterior Usando Xoom
Por Bobby Aitkenhead, Director de Producto, Xoom
En Xoom, un servicio de PayPal y proveedor líder de transferencias digitales de dinero, nos proponemos hacer que el envío y recepción de dinero sea una mejor experiencia para todos los involucrados. Sin embargo, los remitentes de remesas casi siempre han llevado la carga pesada. No solamente al generar los ingresos, sino también buscando la manera más rápida y conveniente de enviar los fondos. Los destinatarios, por otra parte, tienen límites para hacer las cosas más sencillas. Hoy estamos encantados de anunciar una nueva función de ‘solicitar’ que fue diseñada teniendo en cuenta especialmente a los destinatarios de remesas.
Por primera vez, los usuarios fuera de EE.UU. pueden usar Xoom para enviar fácilmente una ‘solicitud’ a sus seres queridos en este país de una transferencia de dinero, pago de servicios o recarga telefónica.
Ya no es necesario encontrar cuál es el mejor lugar para llevar a cabo una transferencia de dinero, o tener que apuntar los complicados datos de diversas cuentas y cometer errores, retrasando la llegada de los pagos a tus seres queridos. No más llamadas para verificar números de cuentas para pagar algún servicio o hacer una recarga telefónica.
Ahora, esta información puede ser ingresada por el destinatario y se guarda directamente en sus cuentas para futuras solicitudes. Ellos saben lo que necesitan, cuándo y dónde lo necesitan; saben sus números de cuenta, entonces, ¿por qué no permitirles realizar una ‘solicitud’? Tras recibir la solicitud, todo lo que hay que hacer es confirmarla y enviar el dinero.
Los destinatarios y los remitentes se benefician de muchas maneras:
- Solicitar dinero – es fácil que los destinatarios les recuerden a sus familiares en EE.UU. los eventos claves para solicitar el envío de dinero. Los fondos estarán disponibles para retiro en cualquier socio de pagos relacionado en el sitio web de Xoom.
- Solicitar una recarga de celular – envíe una solicitud de recarga de celular a los seres queridos en EE.UU. para pedir crédito en su celular prepago.
- Solicitar pago de servicios – solicite a familiares o amigos que paguen sus servicios, como cuentas de electricidad y teléfono.
Con la nueva función ‘solicitar’, hay más control en manos de los destinatarios de las remesas, quienes ahora son parte del proceso y tienen una manera fácil y conveniente de manejar esta importante línea de apoyo financiero. No hay cargos por hacer una solicitud; en tan sólo unos pocos pasos, los destinatarios pueden hacer solicitudes 24/7 en Internet desde cualquier celular, tableta o computadora.
We’re very excited to announce our new partnership with social media sensation, Mikey Bustos! You might know Mikey from his appearance on Canadian Idol, or perhaps have seen some of his hilarious Youtube videos that won him recognition as a Top Youtube Personality (Philippines) at the Influence Asia Awards last year. We know Mikey has built a strong following with the Filipino community using his humor and think he’s a perfect fit to be our new brand ambassador for the launch of our new comedy campaign, Xoom LOL – Life On Line!
As a part of his one-year partnership with Xoom, we’re starting the fun in typical Mikey fashion – with the first of several parody videos on the benefits of digital remittances with Xoom – check it out! You might recognize this quintessential 90’s karaoke tune from the Philippines!
Additionally, starting Monday, August 15, we’ll be airing a new television commercial on TFC and GMA that will feature Mikey using his humor to depict the obstacles of sending money through traditional brick-and-mortar stores versus the ease of using Xoom. Here’s a behind-the-scenes video from the commercial shoot!
We know that Filipino immigrants and Overseas Filipino Workers are often the lifelines of support for their families in the Philippines. As such a critical piece in the daylives of our users, Xoom wants to empower our customers and make sure they’re aware of the convenience of our platform. We know humor is a powerful way of connecting with the Filipino community and believe through Mikey’s personality and his social media platform, we can further engage with our Filipino customers.
You can can check out the latest campaign content on our dedicated Facebook page, Xoom LOL, which will host videos, Facebook Live streams, photos and clips from Mikey’s shenanigans with Xoom.
By Andrea Salcedo, Xoom Territory Manager for the Caribbean and South America
We’re excited to announce today that Xoom has expanded our service to the South American country of Guyana. With this expansion, we hope to remove the hassle and worry of sending money back home to loved ones in Guyana.
Within seconds, you can login to Xoom.com or the Xoom mobile app to send a direct bank deposit or cash pick-up transfer. Our service is easy to use and eliminates the need to wait in long lines or drive to a store to process your transaction. Soon we will also launch a mobile reload feature to recharge your loved ones’ mobile devices. It’s the perfect way for family members to stay connected.
We’ve partnered with trusted bank partners and cash pick up networks, including First Global, Laparkan, and the Guyana Post office, so you can send money throughout Guyana, from Georgetown to Lindon. All pick up locations are open from Monday to Saturday.
Xoom employs proven technology to protect and secure your personal information. Xoom is a simple and affordable way to send money as compared to traditional brick-and-mortar money transfer locations. We offer a money-back guarantee so you can have the peace of mind that if your transfer isn’t received, you will receive a refund. We offer 24/7 customer support at +1(415) 395-4225.
We are committed to making the movement and management of money better, easier and more affordable for people across the world and we’re thrilled to now begin offering our service to the Guyanese community.
Stay tuned for more updates!
Today the San Francisco Business Times announced that Xoom, a PayPal service, is a recipient of the 2016 Tech & Innovation Award. This annual award celebrates Bay Area companies that are reimagining how business is done and most importantly, transforming every area of technology through innovation.
Over the last 15 years, we at Xoom have been focused on building a leading digital money transfer services company that has shaken up antiquated systems of sending remittances. We’ve pioneered innovative ways to make sending money to loved ones around the world faster, more secure, and more convenient.
We’ve helped customers in the U.S. send money, pay bills, and reload prepaid mobile phones for family and friends in over 50 countries. Earlier this year, we announced our expansion in Africa and Europe, as well as plans to launch our service to Cuba later this year. We will continue to work hard on our goal of making the movement and management of money easier for people all over the world.
We’re proud of the work accomplished thus far and congratulate our fellow award recipients who are also tackling real-world problems through high-tech solutions!
Even if you happen to live in one of the cities where there is an abundance of mass public transit, it’s still not all that easy to get around. We tend to depend on our cars, at least a lot of us do. Having the key to your automobile jangling around in your pocket or your purse provides a tangible sense of freedom that comes in handy in a lot of ways.
If you have a garage, a carport or a convenient place to park, then having a car makes even more sense. Yes, an automobile is a financial commitment when you start figuring in all the costs that go with owning one . . . or two, or three.
Xoom decided to look into the car ownership situation. A leading digital money transfer provider, Xoom conducted a survey of some of its Fil-Am customers and asked this question: How many automobiles do you own?
What would you guess the most mentioned answer to be? An even 40 percent of the respondents said they owned one car, but almost as many, 35 percent, said they owned two or three cars. And seven percent of those who took part in the survey said they owned four or five cars while two percent said they owned six or more cars.
As usual in the summertime, there doesn’t seem to be any shortage of activities, or things to do that involve you and your family and others. For many Fil-Ams, the summer can be packed with a great number of important and fun events, whether they involve enjoying flowers or festivals or whether the events are more along the religious side.
Making time together for families cuts across the Filipino heritage and it’s a vital component to everyday life. Plus, it helps to remind us of our friends and family back home.
Xoom, a leading digital money transfer provider, thought it would be a valuable idea to find out more on the subject from some of its best Fil-Am customers. So Xoom decided to conduct an exclusive survey on the subject of summer and what to may decide to do, asking the question, ‘Do you plan to attend a Filipino event this summer?’
Yes, said exactly 40 percent of those who responded in the survey. But 38 percent answered no, they don’t have anything in mind, while another 22 percent said that there are no Filipino events nearby that they could attend.
Who’s got the remote control? What are you, sitting on it? Let me have it. And so begins another of the friendly family discussions about just who is in charge of what we watch on television. Controlling the remote control may be about as much of a sport as what we’re trying to find on television.
Most probably can’t name anything that is more vital to the Sofa Set than who’s got their mitts on the clicker. And once that TV is fired up, sports is often what we watch. Like weather and politics, the topic of sports is an ice-breaker, and watching sports is an international pastime.
So, with one hand firmly on the remote control, Xoom jumped into the TV-Sports world. Xoom, a leading digital money transfer provider, conducted an exclusive survey of some of its Fil-Am customers and asked, ‘What’s your favorite sport to watch on TV?’
What would be your guess? Well, it’s basketball, according to 38 percent of those who took part in the survey, with football the next favorite sport to watch on TV with 25 percent. Soccer was farther down the list with six percent and five percent said that baseball was their favorite sport to watch on TV. A full 26 percent said other sports were their favorites.