PayPal buys Xoom for $890 million to strengthen hold in the money transfer business

The Next Web
By Napier LopezJul 1, 2015, 6:14 pm5 pts
With Facebook and Square reigning in on the money transferring business, PayPal isn’t resting on its laurels. The company today dropped $890 million on Xoom, a payment transfer service similar to the already PayPal-owned Venmo. PayPal says the acquisition will allow it broaden its services by…

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