Xoom Acquires Cross-Border Payment Platform

BlueKite specializes in low-cost funds transfers, particularly remittances to developing economies for underbanked customers.

Xoom finalized the acquisition in a $15 million cash-and-equity deal, the Miami Herald reported on Feb. 5.

The company plans to leverage the new platform to expand its services offering. Xoom, based in San Francisco, operate funds-transfer services in 31 countries.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.