PayPal’s money transfer service targets Pinoys in Canada

Global digital payments provider PayPal Pte. Ltd. said Wednesday it has launched a new money transfer service enabling Filipinos in Canada to send money or pay bills in the Philippines.

It opened for business money the transfer service Xoom in Canada.

“This new service enables Filipinos living in Canada to use Xoom to quickly and securely send money, pay bills, and reload phones fast for loved ones living in the Philippines,” PayPal said in a statement.

“Those who have relatives in Canada can also request money, bill payments and mobile reloads with ... the email address of their contact. On receiving the request, their contact in Canada can fulfill it through Xoom’s mobile app or website.”

PayPal said Canadian immigrants can send up to 12,500 Canadian dollars in a single transaction to over 130 countries including India, China, and the Philippines.

The global remittance market is estimated at $600 billion with Canadians remitting nearly $24 billion annually, according to PayPal. —VDS, GMA News