Paypal launches international money transfer service in the UK

Today PayPal has announced the launch of its international money transfer service in the UK and 31 other European markets.

Xoom, which enables users to send money, pay bills and top up mobile phones to more than 130 markets globally, can link to bank accounts as well as debit and credit cards.

The service will offer a cash pick-up service in addition to the transfers, and can be used to send funds to key remittance corridors like India, Pakistan, Nigeria, Kenya, Poland and China as well as to other European, Asian, North and South American and African countries.

Commenting on the UK launch, PayPal CEO and president Dan Schulman, explained: “The way we move and manage our money has changed dramatically in the last few years.

“But even in 2019, it still takes too long to get money from the United Kingdom to a loved one in another country. We know how important these money transfers are in the lives of millions of people, and how crucial it is that money arrives swiftly and more securely so it can be used for things that matter.

He added: “With Xoom, someone with a smartphone on a bus in London can send money that can be accessed within minutes in Mumbai to pay for a family member’s medical emergency or to keep the lights on for their family back home.”