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HomeBankingXoom: Announces money transfers to mobile wallets in 12 countries in Africa

Xoom: Announces money transfers to mobile wallets in 12 countries in Africa

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  • Xoom announced that customers in the US, UK, Canada and Europe can now send secure and convenient money transfers directly to mobile wallets
  • Mobile money services are being deployed rapidly across emerging markets as a key tool to further the goal of financial inclusion
  • Financial inclusion instrumental in lifting the undeserved population out of poverty—and for driving economic growth
  • This new service expands Xoom’s offerings in Africa as the current service already enables money transfers for cash pick-up, direct banks deposits
  • The cost of sending money through traditional channels to Africa one of the most expensive in the world, with an average cost of 9.3 percent
  • A pioneer in digital remittances, Xoom a fast and secure way to send money, pay bills and reload phones for loved ones in over 160 countries globally

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