Midterm-Question n0.1

1. Research 1 company that makes use of E-commerce.Describe the nature of this company in 1-2 paragraphs.
SAN FRANCISCO– Philippine banking giant BDO Remittance that has recently merged with Equitable PCI bank (EPCI) and XOOM Corporation, the fastest-growing global online money transfer company, have announced a strategic partnership to revolutionize worldwide money transfers to the Philippines. The tie-up is designed to provide super fast remittances for bank deposits and cash pickups within minutes at all BDO-EPCI branches. XOOM.com allows individuals to send money from any Internet-enabled computer to family, friends and businesses worldwide. XOOM Corporation was founded in 2001 in San Francisco and is backed by leading venture firms Sequoia Capital, New Enterprise Associates and Fidelity Ventures. www.xoom.com

2. Identify then, how does this company use e-commerce to achieve strategic advantage.
The partnership with XOOM.com will now provide faster and more convenient money transfers to our customers. Additionally, we believe that our increased capabilities brought about by the merger between EPCI and BDO shall be instrumental in driving business. With a click of a mouse, money sent to any BDO*-EPCI account by XOOM.com customers will be available to the recipient in just hours. The super fast bank deposit within hours is provided through XOOM’s proprietary technology. Customers also have the option of picking up cash within minutes from over 1,800 BDO locations, including the SM Malls and Cebuana Lhuillier locations.XOOM ensures that financial transactions coursed through their system are highly secure as the company uses state-of-the-art technology to protect the client’s personal data.

3. Describe the benefits derived from this strategy.
The partnership with BDO provide a more convenient remittance for our Filipino clients. BDO’s network offers faster transactions and more disbursement options for their customers. Through XOOM.com, remitters can easily send money online anytime, without leaving their home or office. Money can be received seven days a week, on extended banking hours through BDO’s wide network of remittance channels, like BDO branches, On-Site outlets and SM Forex counters in SM Department Stores, Cebuana Lhuillier locations and supermarkets.