Xoom, the digital money transfer service of PayPal, has expanded its reach in Asia by launching fast bank deposit service to Japan.
Xoom’s service will allow Japanese immigrants in the US to send money to bank accounts in Japan with their US bank accounts, credit cards, or debit cards.
Xoom has partnered with Queen Bee Capital, a provider of overseas transfer services, to enable fund transfers to major Japanese banks, including Mizuho Bank, The Bank of Tokyo – Mitsubishi UFJ, Sumitomo Mitsui Banking Corporation, Japan Post Bank, Resona Bank.
Xoom added that it will provide locked-in exchange rates on Yen (JPY) deposits to Japan and a secure and convenient way for immigrants to send money from their computer, tablet, or mobile phone.
Helen Li, marketing manager for East Asia at Xoom, said: “At Xoom, our goal is to make sending money around the world quick and easy. That’s why we’re excited to extend Xoom’s services into Japan.
“With Xoom, users can now send money from their mobile phones in a few clicks and deposit money into their loved one’s bank accounts in Japan. No more waiting in line at the bank to wire money; with just a few easy clicks, your transfer is immediately sent and in your loved one’s account within one business day.”