Xoom has been in business for 22 years and since then they are today operating Worldwide. The official legal name of the company is Xoom Corporation. On Twitter, Facebook, Google News, and Instagram. Xoom is a Payment company founded in 2001 in United States. Qatalyst Partners is financial adviser to Xoom and Goodwin Procter LLP is its legal adviser.įollow HT Tech for the latest tech news and reviews, also keep up with us Xoom is the main mode of payment that we use on daily basis to pay for equipment and other services. Convenient and fast online payment platform. Morgan Securities LLC is financial adviser to PayPal, while Sidley Austin LLP is its legal adviser. Xoom, a PayPal Service, is an online money transfer service for quickly sending money internationally. The company is slated to separate from eBay this month and list as an independent company. PayPal said the deal, expected to close in the fourth quarter of 2015, will slightly hurt its adjusted earnings per share for 2016. To log in with your PayPal account: Go to the Log in page. It intends to fund the transaction with cash on its balance sheet. Since Xoom is a PayPal Service, you can also pay with your PayPal balance and the other payment methods in your PayPal account, when available. The San Jose, California-based company said holders of about 18 percent of Xoom's outstanding shares, including all executive officers and directors of Xoom and certain entities affiliated with Sequoia Capital, have agreed to vote for the deal. Online commerce foe Inc is also beginning to explore in-store payments.
PayPal faces increasing competition from rivals like Stripe and Square, which is popular with smaller businesses, and Apple Inc's Apple Pay. Xoom will operate as a separate service within PayPal after the completion of the deal.
The acquisition would allow Xoom to expand into new markets with less execution risk, Xoom CEO John Kunze said on Wednesday.
Xoom, which has 1.3 million customers and a presence in 37 countries, allows users to transfer money via desktop, mobile phones and tablets. 'Our aim is to bring the companies together to make it a true consumer champion in remittances,' PayPal President Dan Schulman said in an interview with Reuters.
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