Xoom Announces Faster Payment Delivery to Filipino Banks

Posted on November 29th, 2007. Written by Rico.

Through an email announcement, Technogra.ph learned a few minutes ago that Xoom deposits to certain local bank accounts will be processed in hours, instead of days as the previous arrangement required. BPI, Metrobank, and Equitable-PCI were listed as the partners of this new system.

Xoom is a money transfer service that supports 31 countries. Users can send money directly into their contacts’ bank accounts through PayPal, major credit cards (Visa, Mastercard, Discovery), or even straight from their own savings. A major user of this service locally is the global blog network b5media, who uses the service to pay the salaries of many of its bloggers based in the Philippines

Xoom may face reduced usage, as many of its current users discover that, as of two months ago, receive payments through PayPal.