Xoom’s Internet-only platform pursues money transfers from a computer, laptop, tablet or smartphone through any web browser.
Elektra provides the recipients of Xoom’s money transfers with over 2,000 additional pick-up locations in Mexico through Elektra stores and Banco Azteca branches.
Commenting on the collaboration with Elektra, Xoom president and CEO John Kunze said, Xoom has taken another major step to meet the rapidly increasing demand for its online and mobile money transfers.
"The Elektra network is Mexico’s largest network and provides the recipients of a Xoom money transfer one of the most convenient cash pickup networks in Mexico with locations open every day of the year from 9 AM to 9PM," Kunze added.
According to a report from Central Bank of Mexico, Mexicans had sent nearly $23bn to their homeland in 2011.
Xoom’s money transfer service allows US customers to send money to Mexico from any internet-enabled device using a checking account or credit card to fund the transaction.
