Xoom Expands Reach in Asia with Fast Bank Deposit Service to Japan
 
Jan 03, 2017
Category:

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.

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

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