On Twitter, Facebook, Google News, and Instagram. 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 Replaced a home-grown CMS with a content infrastructure maintainable by many people within the org. Morgan Securities LLC is financial adviser to PayPal, while Sidley Austin LLP is its legal adviser. Sped up deployment time from two weeks to 30 minutes. 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. It intends to fund the transaction with cash on its balance sheet. Xoom, A PayPal Service is a leading digital money transfer provider that enables consumers to send money, pay international bills, or reload phones for family and friends around the world. 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. Xoom Money Transfer, Pay with Paypal Balance,Requirements, USD, EUR, CAD, GBP,AUD, Send Money Global Prince TheKing 3.19K subscribers Subscribe 98 Share 17K views 2 years ago Xoom Money. 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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