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PayPal Xooms Into Money Transfer

PayPal Xooms Into Money TransferThe purchase will give PayPal access to the lucrative
market for remittances, currently dominated by the more expensive Western
Union.

Xoom’s online service lets people send money internationally, often via mobile
phone, typically charging US$5-10, depending on the size of the exchange – as
well as pocketing the difference in the exchange rates it sets.

Xoom customers can also pay bills using the service.