Xoom was founded in 2001 in San Francisco, California. The company operates an eCommerce site which allows Americans to send money to persons in other countries, recharge cell phones, and pay bills online.
The company allows users in the US to set up accounts using their American bank accounts, debit cards, or credit cards and send money to other countries, either via cash pickup at local businesses or directly into bank accounts set up in advance. The exchange rate is fair and most transfer fees for amounts under $1,000 is only $5, paid for by the person sending the money.
Xoom provides money transfers to more than 52 countries. Cell phone recharges are also available in many countries. In 2015, PayPal acquired Xoom for $1.09 billion.
