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TheStreet Open House

Xoom's Game-Changing "POWR" Expands To Latin America

SAN FRANCISCO, April 2, 2013 (GLOBE NEWSWIRE) -- Xoom Corporation (Nasdaq:XOOM), a global online money transfer provider, launched POWR (Pay Only When Received), to Filipino remitters last month. Today, Xoom announces that the breakthrough initiative is now available to qualifying remitters throughout Latin America and the Caribbean who choose to send with their bank account ( https://www.xoom.com/pay-after-received ). Xoom is unlike other money transfer companies in that, if the sender pays with a bank account, Xoom will only withdraw the total amount of the money transfer once the money has arrived. 

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POWR logo

"With POWR, we show once again how Xoom is revolutionizing money transfers to Latin America and the Caribbean," says Julian King, Xoom's Senior Vice President of Marketing and Corporate Development. "When our customers send money and pay with their bank account, Xoom will not charge them until their loved ones get their money.  We believe in giving people 'power' for a convenient, safe and fast way to send money home." POWR gives customers assurance that Xoom will not withdraw a dime from their bank accounts until the money is received by their loved ones.

POWR is Xoom's latest product offering to give customers peace of mind and reassurance. Earlier this year, Xoom introduced its 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. 

"When our customers send money, they want the peace of mind of knowing that their loved ones have safely received it," King added. "Both POWR and StatusTrak provide very reassuring money transfer experiences with Xoom."

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