SAN FRANCISCO, September 19, 2008 - Xoom Corporation, the internet-based global money transfer company, announced today a partnership with MORE Money Transfer, an Uruguay-based disbursement network with global presence. The agreement with MORE Money Transfers, effective today, will provide the beneficiaries of Xoom’s customers more locations and options for receiving money in Uruguay. The partnership expands Xoom’s cash disbursement network to include more than 250 Red de Pagos locations; and adds bank deposit service directly to any bank account.
This addition of the new locations augments Xoom’s existing relationships with BBVA Uruguay (through Bancomer Transfer Services) and Indumex (through Latin Express). In addition, it provides Xoom’s customers with the option to send money to Uruguay in Uruguay Pesos (UYU).
This partnership supports Xoom’s comprehensive corporate initiative to serve the rapidly growing Latino immigrant consumer market by providing an alternative money transfer option that is fast, easy, convenient and low in price. Xoom’s money transfer service, created in 2001, allows customers to send money to Uruguay from any internet-enabled computer using a checking account or credit card to fund the transaction. When paying with a checking account, the cost to send $100 is $2.99.
Xoom offers money transfers to 16 countries in Latin America: Argentina, Bolivia, Brazil, Chile, Colombia, Dominican Republic, El Salvador, Ecuador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Peru, Paraguay and Uruguay.
Xoom.com allows individuals to send money from any Internet-enabled computer to family, friends and businesses. Xoom Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures. For more information on Xoom.com money transfer service to Uruguay, visit www.xoom.com/uruguay.