SAN FRANCISCO--(BUSINESS WIRE)--Xoom Corporation (NASDAQ:XOOM), a leading digital money transfer provider, has launched Xoom Mobile Reload. The cutting-edge service allows customers to instantly send airtime credit online from the U.S. to prepaid mobile phones in 22 countries, including India, Mexico, the Philippines and more.
By adding Mobile Reload, Xoom expands its offerings, enabling customers to do more for their friends and family with less hassle. “Even though mobile reloads are for small amounts, they go a long way towards helping our families overseas,” said Bobby Aitkenhead, Vice President of Bill Pay and Mobile Reload. “With the new Xoom Mobile Reload, senders have the opportunity to support more loved ones. They can send a traditional money transfer to their mother and send a phone top up to their sister, cousin, nephew, aunt, and friend--all with Xoom.”
“Xoom.com is now a complete solution for customers who support loved ones abroad. Our customers can send money to their loved ones, conveniently pay their family’s bills, and send a reload instantly to their mobile phones,” added Aitkenhead.
Xoom partnered with TransferTo, a leading provider of international airtime remittance, to enable the transfer of prepaid mobile credits. With just the mobile phone number, Xoom and TransferTo’s cutting-edge technology auto detects the carrier in real-time and instantly sends airtime credit to the receiving phone. More than 90 carriers are supported, and customers can choose to send online at Xoom.com or soon through Xoom’s mobile app (available this summer). The moment airtime is credited to the account, a free in-language text message is sent to the receiver. The technology securely auto-saves the transaction information, including the mobile number, payment method, and amount sent, allowing repeat transactions to be sent with just two clicks.
In a recent proprietary survey of Xoom customers that have used a reload service, 52 percent add airtime credit to their loved one’s mobile phone monthly or more often.
When recharging a mobile phone with Xoom Mobile Reload, senders choose a fixed amount in local currency (roughly equal to $5 to $25 USD) and receive a fair and transparent exchange rate that is equal to Xoom’s money transfer exchange rate, plus a $0.99 fee in most countries. Xoom’s customer service is available to Mobile Reload senders 24 hours a day, 365 days a year, in English, Spanish, and Tagalog.
Customers can use Xoom to recharge mobile phones in Mexico from Telcel, Movistar, Iusacel, Nextel and Unefon. They can send a phone load to the Philippines to Globe, Smart, and Sun phones. Additionally, they can recharge mobile phones in India to 11 different mobile phone carriers, including Aircel, Airtel, BSNL, Idea, Reliance, Tata Docomo and Vodafone. Xoom also offers mobile reload to 19 other countries: Bolivia, Brazil, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Jamaica, Nicaragua, Pakistan, Panama, Peru, Poland, Spain, Sri Lanka and Uruguay.
Xoom is a leading digital money transfer provider that enables consumers to send money, pay bills, and send mobile reloads for family and friends around the world in a secure, fast and cost-effective way, using their mobile phone, tablet, or computer. During the 12 months ended March 31, 2015, Xoom's more than 1.3 million active customers sent approximately $7.0 billion with Xoom. The company is headquartered in San Francisco and can be found online at www.xoom.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 relating to, among other things, expectations, plans, and prospects for Xoom, including, but not limited to, its expectations regarding its expansion into new services and market demand for mobile reload products. These forward-looking statements are based upon the current expectations and beliefs of Xoom's management as of the date of this press release, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements made in this press release are based on information available to Xoom as of the date thereof, and Xoom disclaims any obligation to update these forward-looking statements.
In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the evolving nature of the industry in which Xoom operates; its failure to attract new customers or retain existing customers; economic, political or regulatory factors beyond its control, in the U.S. or in countries to which its customers transfer money, pay bills, and send mobile reloads; fluctuations in foreign exchange rates; competitive pricing and marketing strategies by competitors; the adoption of competing technologies that supplant its services; the failure of partners to reload phones according to Xoom's instructions; declines in customer confidence in its business or in money transfer providers generally; potential breaches of its security systems; and other risks and uncertainties.
For a detailed discussion of these and other cautionary statements, please refer to the risk factors discussed in filings with the U.S. Securities and Exchange Commission ("SEC"), including but not limited to Xoom's Annual Report on Form 10-K for the year ended December 31, 2014 and any subsequently filed reports on Forms 10-Q and 8-K. All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval system ("EDGAR") at www.sec.gov or Xoom's website at www.xoom.com.
(Xoom – g)