Xoom is a new electronic money-sending service that lets you send money from the U.S.
to o 20 countries abroad. It works much like Western Union; to send money to someone, enter in their personal information and your contact into, specify the amount you want to send, select a delivery method (either pick up, home delivery, or direct transfer to their bank account), and select a payment method (major credit card, PayPal, or direct withdrawal from your bank account). Xoom will then send you a confirmation email verifying the transaction. You can also use Xoom to request funds from overseas.
Xoom.com In Their Own Words
“Xoom Corporation is an online-to-offline international money transfer service. We offer a secure, fast, and inexpensive means of sending money from our website to offline recipients in the following growing list of countries:
Argentina
Bangladesh
Bolivia
Brazil
Chile
Dominican Republic
Ecuador Guatemala
Hong Kong
India
Jamaica
Mexico
Morocco
Nepal Paraguay
Peru
Philippines
Sri Lanka
Uruguay
Vietnam”
Why Xoom.com It Might Be A Killer
Xoom claims to be more than 80% cheaper than Western Union and MoneyGram, and seems like less of a hassle to use. Plus, recipients don’t have to go and pick up the money in person; Xoom offers several delivery options.
Some Questions About Xoom.com
Xoom only operates in a handful of countries, and you can only transfer to them, you can’t transfer from then. In that respect, Western Union has the upper hand. Additionally, Xoom hasn’t tapped into the philanthropic arm of online money transferring like Kiva has. To be truly competitive in this field, Xoom will need to expand its services and supported recipient countries; being cheaper than its competition won’t offset limited regional access. 
