Mobile Commerce

Xoom Acquires Cross-Border Payment Platform

Digital funds-transfer provider Xoom Corp. has acquired BlueKite, a developer of a cross-border payments 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.

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