Iain Allison, formerly a banker and television executive, he co-founded in 1999 a business called BuyIndiaOnline.com Inc. and their money transfer brand Cash2India.com. This was one of the first online money transfer businesses in the world. This business was bought by Xoom in 2004 and Xoom was subsequently bought by PayPal in November 2015. Xoom has over 20% of the US to India remittance market.
Ever since the purchase by Xoom in 2004, Iain has been in charge of business development for Xoom in India, rest of Asia, Europe and parts of Africa.
Iain Allison is a graduate of the London Business School.
Iain passionately believes that online remittances have been a massive force for mobilization of remittances globally and that these mobilized remittances have had a substantial impact on global economic development and financial inclusion. Online remittances have slashed the price of remittances and simplified the remittance process while increasing compliance.