what is xoom paypal
A lot of people were stunned and confused earlier this month when PayPal Holdings (NASDAQ: PYPLV) purchased an obscure company called Xoom (NASDAQ: XOOM) on the verge of independence. Not surprisingly, many people were wondering what Xoom is and why PayPal wants it so badly. Basically, Xoom, like PayPal, is a next generation money transfer service. The difference between the two companies is that Xoom allows people to transfer money between the virtual world and the real world. PayPal lets you buy and sell online, in social media with Venmo, and in stores with its credit and debit cards. How Xoom Works. Xoom lets you transfer cash internationally while bypassing traditional wire transfer services such as Western Union (NYSE: WU) and MoneyGram International (NASDAQ: MGI).