PayPal to buy money-transfer startup Xoom for $890 million

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Wiring money home (especially as cash) can be an awkward, expensive and time-consuming ordeal — but it’s about to get a whole lot easier. PayPal announced on Wednesday that it is acquiring San Francisco-based digital money transfer startup Xoom (no, not the tablet maker) to make “international remittances simpler, safer and more affordable,” according to the company’s blog.

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https://www.engadget.com/2015/07/01/paypal-to-buy-money-transfer-startup-xoom-for-890-million/

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