Xoom operates an online, international money-transfer business which enables customers to send funds to other people in 30 countries.
According to the World Bank, since 2004, the market for online remittances has grown at a 12 percent annual rate, to USD 513 billion in 2011. That figure is expected to grow at a 7 percent annual rate, reaching USD 685 billion by 2015.
In 2012, Xoom has launched a mobile website which allows users to send money via their mobile devices.
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