PayPal’s Xoom, in partnership with Walmart and Ria, has launched domestic money transfer service in the US.
The service will allow Americans to transfer funds to nearly 5,000 cash pick-up locations across the country.
It includes 4,700 Walmart and 175 Ria stores, from where the recipient can pick up transferred money. Ria is a subsidiary of Euronet Worldwide, a local electronic payment service.
Xoom vice-president and general manager Julian King said: “Many of our customers in the US already send money to loved ones in the country, and they usually prefer that the money is available right away.
“This rollout reinforces our commitment to make money transfers fast, easy and affordable for everyone, whether they are at home or on-the-go.”
The service is expected to particularly benefit underbanked customers by reducing transfer fees for domestic remittances.
Euronet Money Transfer Segment CEO Juan Bianchi said: “At Ria, we are delighted to further consolidate our relationship with Xoom and Walmart.
“Our continued partnership is a fine example of how Ria’s technology can serve as an enabler between platforms, offering consumers and partners an added layer of security and compliance screening, in turn facilitating value creation within the Fintech ecosystem.”
Xoom is PayPal’s international money transfer service. It allows users to send money, and pay utility across 160 countries globally.
In July, PayPal launched Xoom in Europe with availability in 32 markets.
Last month, it expanded its bank deposits service to enable direct transfers to South Korean bank accounts.