Remittance firm offers no-pay-until-received deal

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06:07 AM March 19th, 2013

March 19th, 2013 06:07 AM

SAN FRANCISCO –A global online money transfer provider assured Filipino remitters who send money using their bank accounts that “no money will be withdrawn until the money is received” by their intended recipients.

The POWR, or Pay Only When Received program, was launched by Xoom Corporation (NASDAQ: XOOM), named by the Wall Street Journal as one  the Top 50 Venture Backed Companies.

“When our customers send money and pay with their bank account, Xoom will not charge them until their loved ones get their padala,” says Julian King, Xoom’s Senior Vice President of Marketing and Corporate Development.

POWR is available to qualifying Filipino remitters (https://www.xoom.com/POWR).  “With POWR, we show once again how Xoom is revolutionizing money transfers,” King adds.

Xoom has been doing business with the Filipino community for ten years and pioneered instant bank deposits to the Philippines.  POWR is Xoom’s latest product offering customers “peace of mind and reassurance.”

Earlier this year, Xoom introduced its Filipino customers to StatusTrak (https://www.xoom.com/how-to-track-your-transfer), an online tracking service that provides ways for people to track their transfer via SMS text messages, email updates and 24/7 phone support.

“Both POWR and StatusTrak provide very reassuring money transfer experiences with Xoom.” King added. Xoom promises “secure, fast and cost-effective transfers” through mobile phone, tablet or computer.

Last year, its 750,000 active customers sent more than $3.2 billion to family and friends in 30 countries. The company is headquartered in San Francisco (www.xoom.com).

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