Xoom launches new remittance service in Philippines

MANILA, Philippines – Xoom, a service of digital money transfer provider PayPal, has rolled out a new feature allowing remittance beneficiaries in the Philippines and 28 other countries to send a request to loved ones in the US for fund transfer, bills payment as well as mobile phone reload.

In a statement, Xoom said the new request feature is being made available in a total of 29 countries across Latin America, Europe and Asia.

The new service is being introduced in time for the Christmas season when the highest number of remittances are made by overseas Filipinos to their families. 

Through the new request feature, remittance beneficiaries have a digital tool to control when they can receive and how to use the funds from their loved ones in the US.

In particular, remittance beneficiaries could prompt family members in the US to send money when certain events come up, and the funds could be requested for cash pick up at any of Xoom’s partners including Cebuana Lhuillier, M. Lhuiller, BDO Unibank, Metropolitan Bank and Trust Co., LBC and Globe G-Cash.

Remittance beneficiaries could also use the request feature to ask family members living in the US to send them credits on their prepaid mobile phone. 

The request feature could also be used to ask for payment of landline or internet bills. 

To use the request feature, remittance beneficiaries simply need to sign up on xoom.com, select their request type, and enter their personal information and that of the person they are requesting from. Xoom will then relay the request to the sender who can instantly fulfill it by using their phone, tablet or desktop. Both parties would be notified upon completion of the transaction.

With the request feature, beneficiaries can keep track of their requests, while senders no longer need to worry about writing down or getting lengthy account information from beneficiaries as such are saved on the accounts for future requests.

Using the request feature is being made available for free to remittance beneficiaries.

As an additional ‘request’ feature, Xoom is planning to add direct bank deposit and door to door delivery options.

“We want to facilitate the cross-border exchange of money for both senders and beneficiaries all over the world,” Xoom VP John Kunze said.

 “Traditionally, the remittance industry has been served by systems that are inefficient and leave the onus primarily on senders. With the new ‘request’ feature, control is in the hands of remittance beneficiaries who now have a central digital service to manage this line of financial support that is so critical to their daily lives,” he added.