1 min read.Updated: 16 Jul 2019, 09:38 AM ISTReuters
Britons alone transfer over $26 billion in remittances overseas annually
The international global remittances market is pegged at $689 billion
London: US payments company PayPal is expanding further in Europe by launching its international money transfers service Xoom in Britain and 31 other countries across the continent. Xoom allows customers to transfer money abroad to more than 130 markets internationally, including India and China.
The company said the roll-out would help it grab market share in the $689 billion global remittances market, building on previous launches of the service in the United States and Canada.