Digital money transfer provider Xoom has introduced an instant mobile reload service that allows consumers to send airtime credit online from the U.S. to prepaid mobile phones abroad.
Xoom Mobile Reload is available in 22 countries, including India, Mexico and the Philippines, and supports more than 90 carriers. The service is enabled through a partnership with international airtime remittance provider TransferTo.
Through Xoom Mobile Reload, consumers will have the option to send mobile credit either online or through a mobile app that will become available this summer.
To start a transfer, consumers type in a mobile phone number and the service will auto-detect the recipient's carrier. Senders then choose to transmit a fixed amount of credit in local currency, in amounts between $5 and $25 roughly, and receive an exchange rate equal to Xooms money transfer rate.
Additionally, once a transaction is complete, the receiver will get a free text message notification in the destination's local language. The system also auto-saves transaction information, so that senders can remit airtime credit more quickly in the future.
"Even though mobile reloads are for small amounts, they go a long way towards helping our families overseas," said Bobby Aitkenhead, Xooms vice president of Bill Pay and Mobile Reload. "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."
Last week, PayPal entered a deal to buy Xoom for $890 million. The agreement is one of several acquisitions PayPal has pursued over the years to diversify its offerings.