International money transfer service, PayPal announced on Tuesday it can now send convenient money transfers directly to mobile wallets in markets across Africa, including Zimbabwe amongst the countries.
Commenting on the development Julian King, Vice President and General Manager of Xoom said the new development was initiated to reduce costs of sending money to Africa.
“Sending money to Africa through traditional channels has always been expensive. We wanted to help bring down the cost and speed up the process to boost financial inclusion, There is nowhere else in the world that moves more money on mobile phones than Sub-Saharan Africa. While there are only five bank branches per 100,000 people as of 20192, there are 1.04 billion registered mobile money accounts in Sub-Saharan Africa, “ he said.
How can one send the money.
1: You can log in with your PayPal credentials or easily create a Xoom account, starting with your name and email address.
2: Simply enter how much money to send, who it’s going to, and where they’ll receive it in Zimbabwe.
3: Conveniently pay with with PayPal, bank account, credit card, or debit card and you’re done!