Xoom Launches Money Transfer Service to China

Register now

Xoom, a digital payments company based in San Francisco, has begun offering money transfers to China.

The service allows consumers with a U.S. bank account or payment card to send up to $2,999 to most Chinese banks, including at Bank of China, Bank of Communications and China Construction Bank.

The transfers are processed using the UnionPay and MoneyExpress payment networks. A recipient's UnionPay card number and pin-yin name are required to authorize the transactions.

"As we expand our service to the world's most populous country, Chinese immigrants in the U.S. can safely, conveniently, and cost-effectively send money to their loved ones," said John Kunze, Xoom's president and chief executive, in a Feb. 2 press release.

Xoom has expanded its payment network in recent months. In November, the company began offering cross-border bill-pay services in Latin America. It also recently began providing deposit transfers to India and the Philippines.

Xoom provides digital money transfers to 31 countries, according to the release.

For reprint and licensing requests for this article, click here.
Technology Online payments
MORE FROM PAYMENTSSOURCE