Xoom Expands Reach in Asia with Fast Bank Deposit Service to Japan

SAN FRANCISCO–(BUSINESS WIRE)–Xoom,
a leading digital money transfer provider, today announced it will be
expanding its service in Asia, making it easier for people in the United
States to quickly and securely send money to Japan. With Xoom, people
get the convenience of sending money on-the-go through a mobile phone,
tablet or computer. Customers also get the peace of mind of having money
directly deposited into their loved one’s bank account, and access to
24/7 customer service, 365 days a year.


Xoom is partnering with Queen Bee Capital Co., Ltd., a provider of
overseas transfer services, to offer customers a fast bank deposit
service to major banks in Japan, including Mizuho Bank, Ltd., The Bank
of Tokyo – Mitsubishi UFJ, Ltd., Sumitomo Mitsui Banking Corporation,
Japan Post Bank, Resona Bank, Ltd. and more. Xoom’s service will allow
Japanese immigrants in the U.S. to conveniently and securely send money
to bank accounts in Japan with their U.S. bank accounts, credit cards,
or debit cards.

At Xoom, our goal is to make sending money around the world quick and
easy. That’s why we’re excited to extend Xoom’s services into Japan,”
said Helen Li, Marketing Manager for East Asia, Xoom. “With Xoom, users
can now send money from their mobile phones in a few clicks and deposit
money into their loved one’s bank accounts in Japan. No more waiting in
line at the bank to wire money; with just a few easy clicks, your
transfer is immediately sent and in your loved one’s account within one
business day.”

Customers can send over $1,000 fee free or just $9.991 for
transactions below $1,000.

According to the Migration Policy Institute, over the last five decades,
the Japanese immigrant population has grown by over 200% in the U.S. and
today there are currently approximately 340,000 immigrants from Japan
living in the U.S.2 Based on data from the Pew Research
Center (“Remittance
Flows Worldwide in 2015
”), Japan received $1.56 billion3
in remittances sent from the U.S. in 2015.

Xoom provides locked-in exchange rates on Yen (JPY) deposits to Japan
and a secure and convenient way for immigrants to send money from their
computer, tablet, or mobile phone. Customers can download Xoom’s app for Android
and iOS
mobile devices for free. Visit https://www.xoom.com/japan
for more information.

About Xoom

Xoom, a PayPal service, is a leading digital money transfer provider
that enables consumers to send money, pay bills and send prepaid mobile
phone reloads for family and friends around the world in a secure, fast
and cost-effective way, using their mobile phone, tablet or computer.
The company can be found online at www.xoom.com.

1   In addition to the transaction fee, Xoom also makes money when it
changes your U.S. dollars into a different currency.
2

http://migrationpolicy.org/programs/data-hub/us-immigration-trends?gclid=CjwKEAiA7ejCBRDlp8uF6ezPnjoSJAAPED7Mr90djHYTQIPwxv1bmDVSRDsQ2q71aM6sNz2Nfi_PBxoCfqvw_wcB#source

3

http://www.pewglobal.org/interactives/remittance-map/

Contacts

Edelman for PayPal
Jess O’Mahony, 404-444-1650
jess.omahony@edelman.com