Xoom Announces Money Transfer Service to India with Breakthrough Speed
Money transfers to India bank accounts within four hours
SAN FRANCISCO, CA, May 20, 2013 – Xoom Corporation (NASDAQ: XOOM), a digital money transfer provider, announces a quick deposit service to India to provide customers the ultimate money transfer experience that is fast, safe and convenient. Customers can now have money deposited to any bank account in India within a breakthrough speed of four hours.
“The launch of our world class four-hour deposit service to India provides customers with a fast and secure service they deserve. Customers can rest assured that their funds are safe and deposited in a timely manner,” said Julian King, Senior Vice President of Marketing and Corporate Development for Xoom.
Beginning today, customers can transfer from Xoom.com/India and deposit within four hours to an Indian bank, when sent during bank processing hours. Banks in India include ICICI, Punjab National Bank, HDFC, SBI, Axis Bank, Citibank and many more. Indian bank processing hours are generally Monday through Friday, 9 a.m. – 4:00 p.m. (India Standard Time), and Saturday, 9 a.m. – Noon (IST). Individual bank branch operating and processing hours may vary. Xoom transactions are processed in India through Punjab National Bank, one of India’s largest and most trusted banks.
About Xoom
Xoom is a digital money transfer provider, focused on helping consumers send money in a secure, fast and cost-effective way using their smartphone, tablet or computer. During the 12 months ended March 31, 2013, Xoom’s more than 840,000 active customers sent more than $3.6 billion to family and friends in 30 countries worldwide. The company is headquartered in San Francisco and can be found online at www.xoom.com.
Amitabh Bachchan, Legendary Bollywood Star, Named Brand Ambassador for Xoom – a Digital Money Transfer Provider
SAN FRANCISCO, CA May 20, 2013 – Xoom Corporation (NASDAQ: XOOM), a digital money transfer provider, announces Bollywood superstar Amitabh Bachchan as its brand ambassador to launch Xoom’s revolutionary speed of bank deposits to India within four hours.
“Amitabh Bachchan is the ultimate Indian icon and he is the perfect ambassador for Xoom,” says Julian King, Xoom’s Senior Vice President of Marketing and Corporate Development. “Amitabh Bachchan, a trusted spokesperson to Indians, is starring in the new Xoom campaign that launches the ‘Xoom bank deposit within four hours’ service.”
“I am very excited to be part of the Xoom family. I highly recommend people use Xoom.com to send money from U.S. to India. No matter where you live, taking care of your family is an important part of our Indian culture. Now Xoom has reduced the transfer time of bank deposits to just four hours, making it easier for our families and us,” says Amitabh Bachchan, fondly known as “Big B!”
With Xoom, people can send money to all banks in India using their computers or mobile devices from any Internet-enabled location. Banks serviced include ICICI, Punjab National Bank, HDFC, SBI, Axis Bank, Citibank and many more. Indian bank processing hours are generally Monday through Friday, 9 a.m. – 4:00 p.m. (India Standard Time), and Saturday, 9 a.m. – Noon (IST). Individual bank branch operating and processing hours may vary. Xoom processes transactions in India through Punjab National Bank, one of India’s largest and most trusted banks.
Xoom is a fast-rising money transfer company and went public on February 15, 2013, which was the first tech IPO on the NASDAQ Stock Market this year.
Amitabh Bachchan first gained popularity in the early 1970’s and has appeared in more than 180 Indian films in a career spanning more than four decades. He has won numerous National Film Awards, Filmfare awards and his achievements have been recognized at several International Film Festivals, including the Lifetime Achievement Award at the 2010 Asian Film Awards. Amitabh Bachchan can be seen as “Meyer Wolfsheim” in Baz Luhrmann’s “The Great Gatsby,” released May 10.
About Xoom
Xoom is a digital money transfer provider, focused on helping consumers send money in a secure, fast and cost-effective way using their smartphone, tablet or computer. During the 12 months ended March 31, 2013, Xoom’s more than 840,000 active customers sent more than $3.6 billion to family and friends in 30 countries worldwide. The company is headquartered in San Francisco and can be found online at www.xoom.com.
Indian resident sets Mount Everest record
Raghav Joneja, a 15-year-old Indian citizen, reached new heights recently. According to SmartPlanet, Joneja became the youngest Indian to scale Mount Everest in May 2013, beating the record previously set in 2010.
"I'm at the top of the world," Joneja told the news source. "It's a dream come true."
2013 has been a record-breaking year for numerous Indian residents. Not only did Joneja reach Everest's summit, but the first pair of twin sisters climbed the mountain as well. Additionally, the first female amputee and the youngest team in the world recently conquered Everest.
Many Indian residents pay to climb Everest
Indian adventure sport enthusiasts and some of the people who live outside India and send money to residents back home have been willing to pay for the opportunity to scale Everest. The news source points out that the average Everest trip costs climbers up to $46,000, and numerous Indian residents may consider spending the money necessary to complete the journey to the top of the mountain.
Ang Tshering Sherpa, former head of the Nepal Mountaineering Association, estimates that around 600 people will try to climb Everest this year. Meanwhile, he states that roughly 100 Indians will attempt to scale the mountain, and about 75 of these people will successfully reach the summit.
Indian mountaineer Magan Bissa, who has attempted the Everest climb four times, said the trip can be costly. However, adventure seekers who want the thrill of a lifetime are willing to pay the fees to make the journey up the mountain.
Female amputee sets example
Arunima Sinha, a 26-year-old Indian amputee, made history with her Everest climb. The Wall Street Journal reports that Sinha, who has a prosthetic leg, reached the top of Everest in around 17 hours in May 2013, becoming the first female amputee to enjoy the views from the mountain's summit.
"[Sinha] was definitely slow because of her physical condition. But her mental strength and stamina [were] extraordinary," Dawa Sherpa, general manager of the company that organized Sinha's expedition, told the news source.
Climbing Everest can be exhausting, and Susan Hunt, a 55-year-old sports marketer who once scaled the mountain, acknowledged that Sinha's accomplishment was significant. The trek can be a mental and physical grind, but Sinha and other climbers have been able to make history with their trips.
More mountain climbers from India and other nations may consider Everest expeditions in the near future as well. The mountain is a popular spot for thrill seekers and will continue to provide numerous opportunities to those looking for adventure.
Are India’s smartphone sales increasing?
Smartphones are becoming increasingly important for consumers worldwide, and recent data indicates that the Apple iPhone is quickly becoming a popular choice throughout India. According to The Times of India, iPhone sales have increased by more than 300 percent in India over the past few months, and this trend may continue thanks in part to the gadget's quality features.
The iPhone is ideal for those who want to stay connected to the world from multiple destinations. By using the device, people can access emails, listen to music, watch videos and much more.
Additionally, Indian consumers have enjoyed flexible payment options that have made it easier to obtain iPhones recently. The news source points out that Indian customers can make a partial payment on iPhone 4 and 4S models and cover the remaining costs over six to 12 months interest-free, an appealing option for cost-conscious consumers who want high-end smartphones.
Apple discount also helps buyers
An 18 percent cash discount on several older iPhone models has also helped numerous shoppers throughout India. In fact, those who reside in India or live in the U.S. and send money back home could benefit from Apple's aggressive marketing strategy in the near future.
Increased competition among smartphone providers could lead to lower prices on top-notch devices in India. As Apple continues to explore ways to promote its products to Indian consumers, Samsung and other mobile device manufacturers may evaluate their marketing strategies as well. Meanwhile, customers could significantly benefit, getting first-rate gadgets at lower prices.
New Google smartphone is now available in India
Google's HTC One smartphone is one of several mobile devices that a wide variety of Indian consumers may consider. India Today notes that this smartphone recently reached Indian electronics stores and may noticeably affect both shoppers and mobile device retailers around the nation.
If more Indian consumers consider smartphones, they could look at the HTC One for its vast array of features. In fact, this device has a high-speed processor, a top-of-the-line screen and a front-end camera as well, and these features may help it garner attention from large groups of consumers.
Meanwhile, electronics stores throughout India may invest in various smartphones to keep up with customers' demands. India's economy will benefit if more consumers make purchases from the country's retailers, and new mobile devices could play important roles in the nation's economic growth for years to come.
India’s largest coal producer making progress
Coal India, a major coal producer, is reaping the rewards of a steadily improving economy. According to The Economic Times, the company's net profit rose 35 percent in its most recent quarter, which may affect both Indian residents and those who work in the U.S. and send money back home.
In May 2013, Coal India officials also noted that the business may raise its prices in the near future. The company has exceeded many industry analysts' predictions recently and expects its profits to further increase as a result of the improving economic climate.
Increased production helps Coal India
NDTV points out that several factors enabled Coal India to boost its profits over the past few months. As the business sought ways to extend its reach, company officials made numerous changes that helped it become more productive and efficient.
For example, the news source notes that the company's employee expenses fell in its most recent quarter on a year-over-year basis. Because fewer resources were devoted to workers, the business was able to save money.
Additionally, Coal India has enjoyed a production increase over the past year. If Coal India leaders continue to explore ways to improve workplace productivity, these administrators may watch their profits further rise.
Confidence in India's economy
Recent data indicated that India's economy may be on the rebound, especially when it is compared to other nations'. The Hindu reports that an April 2013 survey by a global market research firm ranked India's economy sixth in terms of confidence. The country's ranking could also improve if it makes progress in various industries soon.
"With food prices and commodity prices expected to remain stable and slow [in terms of growth] because of weak manufacturing prices, inflation is expected to be on a broad downtrend for the next six months," survey official Mick Gordon told the news source. "This, we believe, opens up room for more rate cuts … to propel growth."
Gordon added that he expects the Indian economy to grow around 6 percent in 2013 and 2014, which could help numerous Indian residents. If more opportunities become available to the country's citizens, many skilled professionals could find jobs throughout the nation and support the local economy.
Meanwhile, the study also provided details about how Indian residents view the nation's economy. Researchers found that 41 percent of Indian citizens believed that the country's economy was in good shape. Additionally, 47 percent of those who were from India noted that they believed the country's economy will get stronger within the next six months.
India can maintain economic growth
Several Indian administrators are considering solutions to spark the country's economy. In fact, the nation may surpass many financial experts' predictions if it can maintain consistent economic growth.
The Economic Times reports that Moody's Analytics representatives stated that the growth of India's gross domestic product could reach 7 percent by 2014, especially if the country makes strides in a variety of industries. Indian leaders may take extra steps to make easier for foreign investors to dedicate resources to the Indian economy, which could deliver immediate results for the nation.
Various Indian legislators have also spent plenty of time searching for ways to help reduce the country's deficit. As these lawmarkers determine the most effective solutions to lower the deficit, the nation could significantly benefit for years to come.
Many countries are slowly recovering from the economic downturn of the late 2000s, and India is among those that continues to improve. Indian administrators are working together to find ways to help the country's economy expand, and these legislators' efforts could noticeably impact the nation and its residents.
Google unveils new smartphone in India
In an effort to improve its sales in India, Google has released first-rate LG Nexus 4 smartphones that feature Quad 4 processors, among the fastest of their kind on the market. According to The Financial Express, these mobile devices became available to Indian consumers on May 16, 2013, and could significantly affect smartphone shoppers around the country and those who live in the U.S. and send money to family members back home.
"LG Electronics is pleased to partner [with] Google on the release of the Nexus 4 in India," LG Electronics India managing director Soon Kwon told the news source.
The new Nexus 4 smartphones could be attractive for Indian consumers
With its recent releases, Google could boost its profits and extend its reach throughout India. The new Nexus 4 smartphones are available at retailers in Delhi, Mumbai, Thane, Bangalore, Chennai, Kolkata, Pune, Gurgaon, Noida, Ghaziabad and Ahmedabad, and these shops may find large groups of patrons attracted to the mobile devices' myriad features.
Each Nexus 4 smartphone supports both 2G and 3G networks, and the gadgets have near field communication technology that enables users to make purchases or transfer data from their phones. Additionally, these smartphones have built-in cameras that allow users to snap photographs or complete video calls.
More smartphones will become available in India
Google is not the only smartphone manufacturer that is making its mark in India. The Economic Times reports that Panasonic also launched new smartphones in India in May 2013, the first time this company has unveiled devices to the country's consumers in more than half a decade.
Panasonic officials noted that the smartphone manufacturer is increasing its investments in its electronics sector, which may help it extend its global presence over the next few years. With its latest gadgets, Panasonic may study the devices' sales to see how they will respond before releasing them globally.
The Panasonic smartphones could help this electronics manufacturer make headway against Apple and Samsung, the two companies that currently dominate India's smartphone market. Panasonic's devices, Android phones, have 5-inch high-definition LCD screens, 8-megapixel rear cameras and other features that could make them popular choices for many Indian consumers.
If more smartphone manufacturers search for ways to extend their reach, these firms could look to Indian consumers for support. Meanwhile, smartphone buyers around the country could have plenty of options to choose from, and the nation's economy could benefit as well.
Why are mobile devices becoming more popular across India?
Smartphones and tablets are becoming increasingly important throughout India, particularly for those who live outside the country and send money to family members back home. The ability to interact with one another is vital, and many state-of-the-art gadgets are significantly affecting various Indian citizens. Mobile devices can make it easier for Indian residents to connect with family members and friends across great distances, and new gadgets may lead more people to invest in first-rate devices over the next few years.
NDTV Gadgets notes that electronics manufacturer ZTE will release numerous mobile devices in India this year, which could affect many of the nation's citizens. This company is focusing on premium tablets and affordable smartphones that could help it boost its profits in India.
"With our foray into the open handset market in India, we want to become a dominant player here," ZTE India chief executive officer Xu Dejun told the news source.
Many Indian business owners could purchase tablets soon
The corporate world moves quickly, and Indian business operators are just some of the professionals who are looking to keep pace. By investing in tablets, these company leaders could help their firms grow exponentially in short periods of time.
In AMI-Partners' 2013 India SMB Mobility Landscape, Opportunity Assessment & Outlook, researchers found that more small and medium-sized Indian businesses could use tablets to manage everyday tasks in the near future. Data revealed that roughly 67 percent of these Indian companies intend to purchase at least one tablet over the next 12 months.
The study also showed that many company officials want tablets because the mobile devices provide immediate and long-term value. These gadgets allow business administrators to stay up to date on their regular operations, which may allow them to become more productive and efficient.
AMI-Partners official Dev Chakravarty said that Apple has produced an operating system that many Indian tablet users have enjoyed as well. The Apple OS has helped this electronics manufacturer become a market leader among Indian business owners, and researchers noted that about 40 percent of Indian companies that plan to purchase tablets in the next year intend to buy iPads.
Additionally, many Indian business leaders are making informed decisions before buying tablets, considering myriad factors to make the best investments for their firms.
"Research reveals the major factors that these companies consider before purchasing a tablet include: processor speed, high-speed wireless broadband capability, reliability of service and support, built-in security capabilities, extended battery life and overall brand image," Chakravarty said.
Tablets are also being used to promote good health
In May 2013, the Safe Water Network announced an initiative to share water safety information in some of India's rural communities. Network officials are using tablets to provide information to Indian residents, which may help more citizens understand the importance of safe water.
"In the midst of technology's growing reach, the [tablet] campaign is an innovative program that will make people aware about water safety," initiative spokesperson Dr. Aidan Cronin said.
By using tablets, Indian community members can quickly find out exactly where clean water is located. Because safe water is crucial for cooking and drinking, those who can easily access it could benefit.
Meanwhile, the increased use of technology around India may also have far-flung effects on the nation. If more Indian residents depend on tablets regularly, these people could invest in top-notch mobile devices that allow them to access a wealth of information. Quality gadgets could even help the country's economy expand, as more mobile device manufacturers may consider supplying Indian consumers with a vast array of products.
India could become one of the top investors in the global economy
With a population of more than 1.24 billion people, India remains a world power, and the nation could increase its investments in the global economy over the next few decades. According to Reuters, several World Bank officials stated that India is expected to be among the biggest investors in the international economy by 2030.
If India invests in developing countries, it could noticeably increase its revenue in a short period of time. The news source notes that India could earn around 7 percent for every dollar it invests in these nations, and the additional funds may help Indian residents and those who work in the U.S. and send money back home.
However, World Bank spokesperson Maurizio Bussolo said that plenty of work lies ahead before a complete global economic recovery can occur. While Indian officials may invest in smaller nations, it could take time for these administrators to see significant profits.
"In terms of our projections, we see the increased importance of developing countries," Bussolo told the news source. "But behind that, there is a lot of work to do, and very little time."
The Indian economy could expand in 2013
Indian Planning Commission Deputy Chairman Montek Singh Ahluwalia told NDTV that he expects 2013 to be a pivotal year for the Indian economy. Because the nation's officials have taken numerous steps to bolster the country's economy, Ahluwalia stated that India may see a notable revenue increase in the immediate future.
"Absolutely no doubt that [2013] is going to be a turnaround year," Ahluwalia told the news source. "I think if we do 6 [percent revenue growth] this year, people will be certain that we can do 7 [percent] and 8 [percent] after that."
India's declining inflation rate is one of several signs that the country's economy may be rebounding from the economic downturn of the late 2000s. While the recession negatively affected many countries, India's inflation rate recently fell below 5 percent. Ahluwalia said that this figure could reach 3 or 4 percent as India continues its economic recovery, which may have significant effects on business operators and residents around the country.
Meanwhile, Ahluwalia also recognized that more investors could devote resources to India, especially if the nation shows new signs of economic progress. As the country's fiscal situation improves, investors may find a wealth of opportunities in the country that could quickly deliver substantial rewards.
Badminton becomes more popular in India
While many Indian athletes are drawn to cricket, badminton is quickly gaining momentum nationwide. In fact, an Indian athletic apparel distributor recently noted that badminton could overtake cricket as the country's most-popular sport.
According to Sportskeeda, Navendu Jain, a spokesperson with an Adidas distributor in India, said that badminton is becoming increasingly popular with large groups of Indian residents and those who work in the U.S. and send money to family members and friends in the country. If various sporting goods suppliers highlight badminton products throughout India, more people could become interested in this sport.
"Badminton has the ability to surpass cricket and football in India," Jain told the news source. "But that is some distance away."
A new badminton league could help build an Indian fan base
Those who want to watch live badminton could have plenty of opportunities in India over the next few years. Al Jazeera reports that a new professional Indian badminton league was recently launched and could lead many younger athletes to start playing the sport.
As part of the league, franchises have been set up in Delhi, Mumbai, Pune, Bangalore, Lucknow and Hyderabad. Additionally, Indian badminton teams intend to take steps to help attract some of the world's top players.
"The popularity of badminton has not translated into success in terms of tournaments, but we will change that," Ashish Chadha, chief executive of sports management firm Sporty Solutionz, told the news source.
More badminton activities available to younger Indian citizens
To date, badminton has already made quite a racket among Indian adolescents. The sport is played in many parks around the country, and the new badminton league could make it even more popular for both kids and adults.
"There are some 150 badminton academies in New Delhi alone. In Hyderabad, there are some 5,000 [athletes] playing competitively," Chadha told the news source. "These figures give an idea of the potential for the sport."
Badminton could also play an important role in India's economy down the line. If more players are drawn to the sport, various marketing opportunities could become available to Indian companies and other businesses across the globe. Meanwhile, Indian residents could spend money on tickets to watch badminton games played by some of the world's top players at sports venues around the country, which may enable companies throughout the nation to noticeably improve their profits.
India is reaping the rewards of gold and silver imports
The global recession of the late 2000s has been tough on many countries, including India. Fortunately, Indian residents have recently received a substantial economic boost from their gold and silver imports.
According to Reuters, India's gold and silver imports rose 138 percent between April 2012 and April 2013. Meanwhile, world gold and silver prices recently fell, which may significantly impact India's economy in the near future.
"The surge in gold imports in April could have been due to frontloading of demand given the fall in gold prices, but this demand will come off in the next few months," India economist Siddhartha Sanyal told the news source.
Demand for India's gold is increasing around the world
Gold is a hot commodity worldwide, and Indian residents and those who work in the U.S. and send money to family members back home could be affected by its fluctuating value.
In April 2013, India's imports increased 10.9 percent on a year-over-year basis, thanks in part to the high demand for gold. While the price of gold fell in April, it has steadily increased since that time, a trend that may continue as the Indian economy continues to improve.
Additionally, the demand for gold could create new opportunities for Indian retailers. If more consumers request gold products, more jobs could become available, which may help create new employment opportunities across India.
Indian online retailers are selling gold and silver
The Indian Express points out that Bullion India recently launched an online platform to sell gold and silver to consumers. This merchant intends to supply large quantities of gold and silver at low prices and is even offering various delivery options to customers around the globe.
"Bullion India is the best platform through which retail customers can own gold and silver bars in small denominations at the lowest prices," Bullion India executive director Ketan Kothari told the news source.
With Bullion India, customers can enjoy gold bars that comply with international standards and are safely stored at all times. A professional security agency ensures that gold and silver is protected, and Bullion India also offers full insurance to clients.
As the global economy improves, more consumers could show interest in India's gold and silver sector. By offering these products to customers, Indian residents may receive significant profits that could help the nation for extended periods of time.
