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20
Oct

Xoom Expands Service to Bangladesh

Expanded partnership with Sonali Bank Limited Provides Faster Bank Deposits to Bangladesh 

By Julian King, Vice President & GM, Xoom

Today, we’re excited to share that Xoom, PayPal’s digital money transfer service, has expanded its Bangladesh service to include Sonali Bank Limited.  Through this partnership, our customers can now enjoy faster bank deposits to Sonali Bank customers when sending during Bangladesh banking hours.

Before today, a typical bank deposit to Bangladesh could take days before reaching its final recipient, making the process inconvenient and sometimes stressful for senders and receivers in need of a quick solution.  Through this partnership with Sonali Bank Limited, we’re able to better serve the community and Sonali Bank customers by eliminating the long wait time for Bangladeshi money senders in the U.S., as well as their receivers back home.

Xoom service to Bangladesh has been live since November 2015 and is now available to most banks in the country. With the addition of Sonali Bank Limited, we currently provide service to 54 banks in Bangladesh and are thrilled to deliver even faster service to Bangladeshis through this partnership.

In addition to fast service and affordable fees, Bangladeshis in the U.S. can now send up to $10,000 USD to family and friends from their computer, tablet or mobile device through Xoom1.

While Xoom senders can log in to their account using their PayPal credentials, we want to clarify that the Xoom service is a standalone service of PayPal and we are not offering additional PayPal services in Bangladesh at this time. Xoom’s integration with PayPal is focused on making it easy for Xoom’s senders in the U.S. to easily access their bank accounts, credit and debit cards to send money abroad.

Download Xoom’s app for Android and iOS mobile devices to send money on the go, or visit https://www.xoom.com/bangladesh/send-money for more information.

1 May not be available for all transactions. Transaction amounts depend on various factors, including but not limited to approval by the Xoom proprietary anti-fraud verification system, disbursement method, recipient country, and partner processing limits.

 

9
May

Sending money to Nepal just got easier!

By Nasar Agboatwala, Xoom Territory Manager for South Asia

Remittances are a lifeline for people in many countries and can bring tangible benefits to a country’s economic growth.  As per the World Bank, Nepal received an average of $500 million per month last year from migrants across the world. According to the International Labour Organisation, close to 520,000 labour permits were issued to Nepalese planning to work abroad.

We’re happy to announce that Xoom, a leading digital money transfer provider, can now help Nepalese immigrants in the U.S. by making easier to instantly send money or recharge mobile devices for their friends and family in Nepal using a U.S. bank account, debit card or credit card.

Within seconds, the Xoom mobile app can be used to transfer money to a bank account, send a cash pick-up request, or recharge their loved one’s mobile device in Nepal without waiting in long lines, driving to stores or paying high fees. It’s the perfect way for family members to stay connected.

Xoom is partnering with Everest Bank Ltd., Nepal to offer instant bank deposits and cash pick-up. Consumers can also make bank deposits for all other Nepal banks including Nabil Bank, Himalayan Bank and Nepal SBI Bank. In addition to money transfers, people in the U.S. can also use Xoom’s website or mobile app to instantly send airtime credit to prepaid mobile phones from Ncell, Nepal Telecom and UTL.

Through the partnership with Everest Bank and other major Nepal banks, Xoom customers can transfer up to $1,000 for a flat fee of $4.99. For transactions beyond $1,000, the fee will be waived when paying with a U.S. bank account. For mobile recharge, it only costs 99 cents per transaction for a range of recharge amounts from 500 Nepal Rupee (NPR) to 2,000 NPR.

Customers can send money and recharge mobile phones with confidence due to Xoom’s SMS tracking alerts, 24/7 customer support and money back guarantee. The moment money is sent to a bank account or airtime is credited to a prepaid mobile phone account, a free confirmation text message is sent to the recipient. Xoom also auto-saves the transaction information, including the bank account or mobile number, payment method and amount sent, enabling repeat transactions to be completed with just two clicks. For more information, go to Xoom.com/nepal.

8
Mar

Xoom Expands Digital Remittances Offering in Asia

Remittances play an important part in developing a country’s economic systems, individual households, and businesses. According to the World Bank, global remittances are expected to reach $586 billion in 2016, up from $440 billion in 2015.

This is a huge opportunity to continue to democratize the management and movement of money, and we are making every effort to support development in various markets. Our recent expansions in Singapore, Pakistan and the Philippines are a testament to use the power of technology to help expand and improve financial participation and financial health for billions of people worldwide.

Our new Mobile Recharge capabilities in Singapore augments Xoom’s traditional bank-to-bank transfer service with a very convenient, secure and inexpensive way for customers to provide additional support to their loved ones. It enables customers to instantly send airtime credit (recharge) online from the U.S. to prepaid mobile phones from three of the largest providers in Singapore – M1, SingTel and StarHub. Xoom customers can recharge their families’ phones in seconds for only 99 cents per reload.

In Pakistan, consumers can now send money to National Bank of Pakistan (NBP) accounts from the U.S. quickly, securely, and affordably. Deposits to NBP accounts will arrive the same day when sent Monday through Friday by 4:30 p.m. PKT. Transactions sent outside of that timeframe will arrive the next business day. The addition of NBP expands Xoom’s service in Pakistan to 25 banks, including major banks such as Habib Bank Limited (HBL), Muslim Commercial Bank (MCB), United Bank Limited (UBL), and Bank Alfalah.

Finally, with the introduction of Bill Pay to the Philippines, more than 1.8 million Filipinos based in the United States can now instantly pay the Smart and PLDT postpaid mobile phone bills of their loved ones in the Philippines online through our pioneering partnership between PayMaya Philippines (formerly Smart e-Money,Inc.). We also recently launched instant deposit service to all RCBC accounts in the Philippines, which means customers are assured that their loved ones will receive their money without waiting or having to worry about cut-off times.

We are redefining the vision of remittances, and Asia and Southeast Asia are very important markets for us. As part of the PayPal family, these expansions are just one of the many steps we will be taking in making the movement of money faster, easier, more secure and less expensive.

6
May

Xoom partners with Sampath Bank to launch Instant Money Transfer Service to Sri Lanka

Xoom’s revolutionary technology enables instant deposit to Sampath Bank accounts and within 24 hours to all other banks 

SAN FRANCISCO, CA, April 28, 2015 – Xoom Corporation (NASDAQ: XOOM), a leading digital money transfer provider, today announced the launch of its money transfer service to Sri Lanka. Xoom has partnered with Sampath Bank, one of the largest banks in Sri Lanka, to offer instant deposits to Sampath Bank accounts in Sri Lanka. Furthermore, Xoom will also provide bank deposits within 24 hours to other banks in Sri Lanka, including Hatton National Bank, Bank of Ceylon, Peoples Bank, Commercial Bank, and more. With the addition of Sri Lanka, Xoom’s money transfer services now reach 33 countries

“We are delighted to extend Xoom’s services to the Sri Lankan market,” said John Kunze, Xoom’s President and CEO. “With our breakthrough technology, Sri Lankans in the U.S. can securely, conveniently, and cost-effectively send money to their friends and family back home.”

“Sampath Bank is very proud to announce its partnership with Xoom,” said Mr. Kusal De Silva, Senior Manager of Remittances at Sampath Bank. “This is yet another step by the bank to provide an even more convenient service for its customers. Through our collaboration with Xoom, families in the U.S can send money to their loved ones in Sri Lanka instantly and safely.”

Xoom makes it secure and convenient for Sri Lankan immigrants to send money from their computer, tablet, or mobile phone. When paying with a bank account, customers can send up to $1,000 for just $4.99, and transfers are fee-free for transactions over $1,000. Customers can also download Xoom’s app for Android and iOS mobile devices to send money on the go. Visit Xoom.com/sri-lanka for more information.

About Xoom
Xoom is a leading digital money transfer provider that enables consumers to send money to and pay bills for family and friends around the world in a secure, fast and cost-effective way, using their mobile phone, tablet or computer. During the 12 months ended December 31, 2014, Xoom’s more than 1.2 million active customers sent approximately $6.9 billion with Xoom. The company is headquartered in San Francisco and can be found online at www.xoom.com.

About Sampath Bank
Sampath Bank is one of Sri Lanka’s leading and most established banks and is quoted on the Colombo Stock Exchange.

27
Oct

Xoom Announces Instant Deposit Service to Kotak Mahindra Bank Accounts in India

Xoom expands instant deposit service to one of India’s leading financial institutions

SAN FRANCISCO, CA, October 23, 2014 – Xoom Corporation (NASDAQ: XOOM), a leading digital money transfer provider, is now offering instant deposits to Kotak Mahindra Bank accounts in India. This revolutionary service allows Xoom customers to instantly deposit money into their recipients’ Kotak Mahindra Bank accounts, 365 days a year, including bank holidays. Instant deposits to Kotak Mahindra Bank are processed through Xoom’s partnership with Punjab National Bank.

“Through our partnership with Punjab National Bank and the breakthrough IMPS technology, we are thrilled to expand our instant deposit service to Kotak Mahindra Bank,” said Julian King, Senior Vice President of Marketing and Business Development for Xoom. “Instant deposits are available 365 days, including bank holidays, so customers will never have to wait. Speed and convenience are what customers expect from Xoom’s service and we continue to do just that in our mission to provide instant deposit to even more banks in India.”

In addition to Kotak Mahindra Bank, Xoom also offers instant deposits to ICICI Bank, HDFC Bank, Punjab National Bank, Bank of Baroda, Union Bank of India, Federal Bank and Yes Bank.

Xoom provides great locked-in exchange rates for money transfers to India, and there is no fee when customers send more than $1,000 and pay with their U.S.-based bank account. Plus, Xoom continues to provide fast bank deposits within four hours to all other banks in India, including to NRE and NRO accounts, when sent during bank processing hours in India.

Customers can also download the Xoom App for Android and iPhone devices for free. Visit Xoom.com/mobile for more information.

About Xoom
Xoom is a leading digital money transfer provider that enables consumers to send money to 30 countries in a secure, fast and cost-effective way, using their mobile phone, tablet or computer. During the 12 months ended June 30, 2014, Xoom’s more than 1.1 million active customers sent approximately $6.3 billion to family and friends. The company is headquartered in San Francisco and can be found online at www.xoom.com.

About Kotak Mahindra Bank
Established in 1985, the Kotak Mahindra group is one of India’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the group’s flagship company, received banking license from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to become a bank – Kotak Mahindra Bank Ltd (KMBL).

KMBL offers complete retail financial solutions for varied customer requirements. The Savings Bank Account goes beyond the traditional role of savings, and provides range of services through a comprehensive suite of investment services and other transactional conveniences like Online Shopping, Bill Payments, ASBA, Netc@rd, ActivMoney (Automatic TD sweep-in and Sweep-out) etc. Kotak’s Jifi, a first-of-its-kind fully integrated Social Bank Account, redefines digital banking by seamlessly incorporating social networking platforms like Twitter and Facebook with mainstream banking.

KMBL also offers an Investment Account where Mutual Fund investments are recorded and can be viewed in a consolidated fashion across fund houses & schemes. Further, the Bank offers loan products such as Home Loans, Personal Loans, Commercial Vehicle Loans, etc. Keeping in mind the diverse needs of the business community, KMBL offers comprehensive business solutions that include Current Account, Trade Services, Cash Management Services and Credit facilities.

21
Oct

Xoom Announces Instant Deposit Service to Bank of Baroda Accounts in India

Xoom Expands Instant Deposit Service to One of India’s Leading Financial Institutions

SAN FRANCISCO, Oct. 21, 2014 (GLOBE NEWSWIRE) — Xoom Corporation (Nasdaq:XOOM), a leading digital money transfer provider, is now offering instant deposits to Bank of Baroda bank accounts in India. This revolutionary service allows Xoom customers to instantly deposit money into their recipients’ Bank of Baroda bank accounts, 365 days a year, including bank holidays. Instant deposits to Bank of Baroda are processed through Xoom’s partnership with Punjab National Bank.

“Through our partnership with Punjab National Bank and the breakthrough IMPS technology, we are thrilled to expand our instant deposit service to Bank of Baroda, one of the largest public sector banks in India,” said Julian King, Senior Vice President of Marketing and Business Development for Xoom. “Instant deposits are available 365 days, including bank holidays, so customers will never have to wait. Speed and convenience are what customers expect from Xoom’s service and we continue to do just that in our mission to provide instant deposit to even more banks in India.”

In addition to Bank of Baroda, Xoom also offers instant deposits to ICICI Bank, HDFC Bank, Punjab National Bank, Union Bank of India, Federal Bank and Yes Bank.

Xoom provides great locked-in exchange rates for money transfers to India, and there is no fee when customers send more than $1,000 and pay with their U.S.-based bank account. Plus, Xoom continues to provide fast bank deposits within four hours to all other banks in India, including to NRE and NRO accounts, when sent during bank processing hours in India.

Customers can also download the Xoom App for Android and iPhone devices for free. Visit Xoom.com/mobile for more information.

About Xoom
Xoom is a leading digital money transfer provider that enables consumers to send money to 30 countries in a secure, fast and cost-effective way, using their mobile phone, tablet or computer. During the 12 months ended June 30, 2014, Xoom’s more than 1.1 million active customers sent approximately $6.3 billion to family and friends. The company is headquartered in San Francisco and can be found online at Xoom.com.

24
Sep

Xoom Announces Instant Deposit Service to ICICI Bank Accounts in India

Xoom expands instant deposit service to one of India’s leading financial institutions

SAN FRANCISCO, CA, September 22, 2014 – Xoom Corporation (NASDAQ: XOOM), a leading digital money transfer provider, is now offering instant deposits to ICICI Bank accounts in India. This revolutionary service allows Xoom customers to instantly deposit money into their recipients’ ICICI Bank accounts, 365 days a year, including bank holidays. Instant deposits to ICICI Bank are processed through Xoom’s partnership with Punjab National Bank.

“Through our partnership with Punjab National Bank and the breakthrough IMPS technology, we are thrilled to expand our instant deposit service to ICICI Bank, one of India’s largest banks,” said Julian King, Senior Vice President of Marketing and Business Development for Xoom. “Instant deposits are available 365 days, including bank holidays, so customers will never have to wait. Speed and convenience are what customers expect from Xoom’s service and we continue to do just that in our mission to provide instant deposit to even more banks in India.”

In addition to ICICI Bank, Xoom also offers instant deposits to Punjab National Bank, HDFC Bank, Union Bank of India, Bank of Baroda, Federal Bank and Yes Bank.

Xoom provides great locked-in exchange rates for money transfers to India, and there is no fee when customers send more than $1,000 and pay with their U.S.-based bank account. Plus, Xoom continues to provide fast bank deposits within four hours to all other banks in India, including to NRE and NRO accounts, when sent during bank processing hours in India.

Customers can also download the Xoom App for Android and iPhone devices for free. Visit Xoom.com/mobile for more information.

About Xoom
Xoom is a leading digital money transfer provider that enables consumers to send money to 30 countries in a secure, fast and cost-effective way, using their mobile phone, tablet or computer. During the 12 months ended June 30, 2014, Xoom’s more than 1.1 million active customers sent approximately $6.3 billion to family and friends. The company is headquartered in San Francisco and can be found online at Xoom.com.

28
May

Xoom Announces Instant Deposit Service to Punjab National Bank in India

Xoom’s revolutionary technology expands its instant deposit network to one of the largest banks in India

SAN FRANCISCO, CA, May 27, 2014 — Xoom Corporation (NASDAQ: XOOM), a leading digital money transfer provider, is offering instant deposits to Punjab National Bank accounts in India.

This breakthrough service allows Xoom customers to instantly deposit money directly into their recipients’ Punjab National Bank accounts in India in less than a minute. Instant deposit is available 24 hours a day, seven days a week, 365 days a year, except during a maintenance window from 8 a.m. – 1 p.m. IST on Sundays.

“Xoom is tirelessly working towards providing a fast service for our customers and we are thrilled to announce this expansion of our instant deposit bank network in India,” said Julian King, Senior Vice President of Marketing and Corporate Development for Xoom. “This is great news for people who send money to Punjab National Bank accounts, who otherwise typically have to wait five days or more to access their funds. Through our expanded instant service, NRIs can send money anytime, anywhere from their computer, mobile phone or tablet and their bank deposits reach their recipients’ Punjab National Bank accounts in less than a minute.”

“This revolutionary service marks another milestone in our deep and long standing partnership with Xoom and its subsidiary buyindiaonline,” said Mr. K. Thyagarajan, General Manager, International Banking, Punjab National Bank. He further added, “We are pleased to offer instant deposit  to Punjab National Bank accounts for customers who send money from the U.S. to India and  look forward to bringing a whole new world of convenience and flexibility to our account holders.”

Xoom provides great locked-in exchange rates for money transfers to India, and there is no fee when customers send more than $1,000 and pay with their U.S.-based bank account. Plus, Xoom continues to provide fast bank deposits within four hours to all other banks in India, including to NRE and NRO accounts, when sent during bank processing hours in India.

Customers can also download the Xoom App for Android and iPhone devices for free.

About Xoom
Xoom is a leading digital money transfer provider that enables consumers to send money to 31 countries in a secure, fast and cost-effective way, using their mobile phone, tablet or computer. During the 12 months ended March 31, 2014, Xoom’s more than 1.1 million active customers sent more than $6.1 billion to family and friends. The company is headquartered in San Francisco and can be found online at Xoom.com.

About Punjab National Bank
Punjab National Bank is a leading Public Sector Bank in India headquartered in New Delhi with over 6,200 branches and 7,000 ATMs spread across the country. It serves over 80 million customers. The Bank has developed an advanced computerized module for speedy payments of remittances received.