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Xoom: Announces money transfers to mobile wallets in 12 countries in Africa

December 13, 2020

Xoom announced that customers in the US, UK, Canada and Europe can now send secure and convenient money transfers directly to mobile wallets
Mobile money services are being deployed rapidly across emerging markets as a key tool to further the goal of financial inclusion
Financial inclusion instrumental in lifting the undeserved population out of poverty—and for driving economic growth
This new service expands Xoom’s offerings in Africa as the current service already enables money transfers for cash pick-up, direct banks deposits
The cost of sending money through traditional channels to Africa one of the most expensive in the world, with an average cost of 9.3 percent
A pioneer in digital remittances, Xoom a fast and secure way to send money, pay bills and reload phones for loved ones in over 160 countries globally