PayPal has announced that it has successfully acquired Xoom Corp., a digital money transfer service provider. This may represent yet another step toward PayPal’s plans to become a
more prominent entity in the mobile commerce space. Xoom is currently considered one of the world’s leading remittance companies. The company allows consumers to use their mobile devices to send
funds, and pay bills, using their mobile devices, making the process more convenient. PayPal believes that expanding into the international money transfer and remittance space will open up new
opportunities in the coming years. PayPal has become one of the most influential organizations in the world when it comes to money management and the company has established itself as a primary part
of the global mobile commerce ecosystem. The acquisition of Xoom will allow PayPal to offer a broader range of services to its customers. Xoom currently operates in 37 countries, and is
particularly popular in Mexico, India, and China.
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