SAN JOSE, Calif.— PayPal’s international money transfer service, Xoom, has a new product that lets users in the United States send money directly to Visa debit card users.
PayPal reported that Xoom partnered with Visa on the initiative, allowing debit card holders to receive funds directly from Xoom. The feature is available in 25 countries.
With the newly-launched function, users can access the funds within minutes, eliminating the need to wait for five business days, which is the average waiting time for wire transfers, Cointelegraph said.
Wei-Lin Lee, PayPal’s vice president of remittances, said the new service could help people during winter and holidays. Lee explained that many customers were sending money globally to their friends and family during those times and that this needed to be done quickly, Cointelegraph added.
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