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PayPal's Xoom, Tencent partner on cross-border payments [Yahoo! Finance]
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US:NASDAQ Investor Relations: investor.paypal-corp.com
Xoom, PayPal Holdings' digital remittance subsidiary, has partnered with Tencent to facilitate cross-border payments for Weixin Pay users, according to a press release. As part of the partnership, Weixin Pay users can receive funds in their Weixin Pay wallets or bank accounts connected to Weixin Pay via Xoom or PayPal within a few minutes, the Wednesday release said. Tenpay Global, Tencent's cross-border payment platform, is a sister service of Weixin Pay, Tencent's popular Chinese payments platform, per the company's website The service is available to Xoom and PayPal users in the U.S., Canada and Europe via Xoom and PayPal's websites and mobile apps. The companies plan to expand the service to more countries in the future, per the announcement. With its newest partnership with Tencent, PayPal continues to use Xoom to boost its payments business. In 2019, Xoom teamed up with Walmart and Ria to let consumers send funds available for pickup at Walmart and Ria locations in the U.
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