- The growth of online payment processors such as PayPal and Xoom is a direct threat to wire transfer companies such as Western Union and MoneyGram.
- Xoom and PayPal are going after the $542 remittance business that is vital to Western Union and MoneyGram.
- Xoom’s new cross border online bill pay service will take customers from wire transfer companies.
- PayPal’s expansion into the developing world is an attempt to get remittance customers.
- Western Union's TTM revenue is already stagnant.