PayPal To Buy Xoom, The Remittance Player, M&A Team Picks Another Gem

An international remittance solution that has been doing really well (and is focused on digital channels especially Mobile) is Xoom. An international money transfer services that is listed on Nasdaq stock exchange and has been featured in LTP9 leaderboard. Xoom transferred more than $7 billion for its 1.3 million customers over the 12 months preceding last April, primarily on mobile devices between family and friends. In short, they made the big elephants in this space (Western Union and MoneyGram) dance.

Let me digress for a moment. For several years, Paypal has been the method of choice for freelancers in India, Philippines, China and elsewhere to get paid for the work assignments they do irrespective of the platform. This is where ...

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