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- Xoom, PayPal Holdings Inc.’s international money-transfer service, said it has a pact with processor TransNetwork Corp. through which it will add 17,000 more cash pick-up locations in Mexico at Oxxo, the country’s largest convenience-store chain. Xoom said it is the first online-only remittance provider to partner with Oxxo.
- In related news, PayPal president and chief executive Dan Schulman said in a blog post that PayPal now has 250 million accounts, and has added 50 million in just over the past 18 months.
- Also, Verizon Communications Inc. announced Schulman was elected to its board of directors. Schulman has led PayPal since 2015, and prior to that worked at American Express Co.
- Consumers using the Movo e-wallet app can use Green Dot Corp.’s MoneyPak and Reload @ the Register services to add funds to their Movo accounts, announced MovoCash Inc.
- Mastercard Inc. is working with Bank of America Corp. again this year to sponsor the Grow Your Business contest, which allows small businesses to pitch their business plan in hopes of winning $25,000 and a consultation with industry experts.
- California-based merchant-services provider PaymentCloud Inc. announced it is opening an office in Miami for sales and support.
- The Money Services Business Association, a trade association for non-bank money-transfer firms, is absorbing the National Money Transmitters Association. David Landsman, the NMTA’s executive director for the past 14 years, has founded a consulting firm that will become an MSBA member and continue to publish a daily newsletter for the industry.
- Gateway provider PaymentVision announced an integration with MoneyGram International that enables PaymentVision clients access to walk-in bill payment services.
- Former Verifone Systems Inc. chief executive Paul Galant has been appointed chief executive of Brightstar Corp., a mobile-device services company and a unit of SoftBank Group Corp., of which Galant has become an operating partner. Galant ran Verifone for five years and led the point-of-sale terminal maker’s transition in August from public to private ownership in a $3.4 billion deal with Francisco Partners.
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