Xoom’s revolutionary technology enables instant deposits to one of the largest banks in India
SAN FRANCISCO, CA, March 31, 2014 – Xoom Corporation (NASDAQ: XOOM), a leading digital money transfer provider, today announced a partnership with HDFC Bank Limited (NYSE: HDB), by offering instant deposits to INR denominated HDFC Bank accounts in India. This breakthrough service allows Xoom customers to instantly deposit money directly into their recipients’ HDFC Bank accounts in India. The instant service is available 24 hours a day, seven days a week, 365 days a year–even on banking holidays.
“Unlike other transfer services to India which typically take five days or more, Xoom is relentlessly working towards providing ‘instant’ for all of our services, and we are excited to launch instant deposits to HDFC Bank,” said Julian King, Senior Vice President of Marketing and Corporate Development for Xoom. “This is great news for people who send money to HDFC Bank accounts. Now NRIs can send money anytime, anywhere from their computer, mobile phone or tablet and their bank deposits reach their recipients’ HDFC Bank account instantly.”
“At HDFC Bank, we are consistently looking at new ways in which we can make a difference in the lives of our customers. Through this tie-up with Xoom we will be able to provide this breakthrough service of instant deposits,” says Mr. Rajender Sehgal, Group Head, Financial Institutions Group, HDFC Bank. “We look forward to bringing a whole new world of convenience and flexibility to our account holders, allowing them to receive money from the US in a secure manner, at any time of the day or night.
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 iOS mobile devices for free. Visit Xoom.com/india for more information.
Xoom is a leading digital money transfer provider in 31 countries, focused on helping consumers send money in a secure, fast and cost-effective way using their mobile phone, tablet or computer. During the year ended December 31, 2013, Xoom’s more than one million active customers sent more than $5.5 billion to family and friends. The company is headquartered in San Francisco and can be found online at Xoom.com.
Promoted in 1995 by Housing Development Finance Corporation (HDFC), India’s leading housing finance company, HDFC Bank is one of India’s premier banks providing a wide range of financial products and services to its 28.5 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. Within a relatively short span of time, the Bank has emerged as a leading player in retail banking, wholesale banking, and treasury operations, its three principal business segments.
The Bank’s competitive strength clearly lies in the use of technology and the ability to deliver world-class service with rapid response time. Over the last 19 years, the Bank has successfully gained market share in its target customer franchises while maintaining healthy profitability and asset quality.
As of December 31, 2013, the Bank had a distribution network with 3,336 branches and 11,473 ATMs in 2,104 cities/towns.
For the quarter ended December 31, 2013, the Bank’s total income was INR 127.39 billion (`12,739.0 crore) as against INR 108.18 billion (`10,818.1 crore) for the quarter ended December 31, 2012. Net revenues (net interest income plus other income) were INR 67.83 billion (`6,783.1 crore) for the quarter ended December 31, 2013, as against INR 59.09 billion (`5,909.4 crore) for the corresponding quarter of the previous year. Net Profit for the quarter ended December 31, 2013, was INR 23.25 billion (`2,235.7 crore), up by 25.1% over the corresponding quarter ended December 31, 2012.
Total income for the year ended March 31, 2013, was INR 419.175 billion (`41,917.5 crore).
Leading Indian and international publications have recognised the Bank for its performance and quality.
For more information please log on to: www.hdfcbank.com
Can’t buy a ticket for Sachin Tendulkar’s last match, one of the biggest matches in India’s cricket history?
The Mumbai Cricket Association put about 3,500 tickets on sale through a Web site, but the site crashed – and the tickets were not available to be sold at Wankhede for the test match on Wednesday against the West Indies.
But there’s an easy way to make sure you can be part of Tendulkar’s and Team India’s history: You can watch Tendulkar’s 200th and final test match of his 24-year career for free on Willow.tv by simply sending your first Xoom money transfer of $150 or more. And by doing just that, you can also watch all of Team India’s matches on Willow.tv for free the rest of the year.
Wankhede seats only 32,000, so the demand for tickets to see the “Little Master” end his test career far exceeds the capacity of the stadium.
Now, Xoom has teamed up with Willow.tv to make it easy to be part of history and give Tendulkar your own personal sendoff.
It is once again cricket as usual for Team India as it takes on Australia in the seventh and final One Day International (ODI) on Nov. 2 at M Chinnaswamy Stadium in Bengaluru.
The last match of Team Australia’s tour of India showcases two of cricket’s global powerhouses and should shine the direction of the spotlight back on the pitch, relegating to the background the spot-fixing scandal that led to lifetime bans for two players in September by the Board of Cricket Control in India. The scandal occurred in last year’s Indian Premier League.
Fans of Team India are celebrating the 30th anniversary this year of one of the biggest upsets in Cricket ODIs, the 1983 victory by Team India over the West Indies in the final of the World Cup.
There’s another reason to celebrate. Watch all the Team India matches on Willow TV for the rest of the year simply by sending your first Xoom money transfer of $150 or more.
Captained by Mahendra Singh Dhonai and led by left-handed batsman Yuvraj Singh, Team India is the reigning champion in the 50-over format, but has had its hands full with Australia, which is wrapping up its 24-day tour against Team India.
Tell us what you miss most about celebrating Diwali in India and enter for a chance to win $1,000
SAN FRANCISCO, CA, October 15, 2013 – Xoom Corporation (NASDAQ: XOOM), a leading digital money transfer provider is celebrating the auspicious festival of Diwali with a sweepstakes for customers to enter for a chance to win $1,000.
For most Indians, celebrating Diwali with family and friends is one of the nostalgic and joyous memories of growing up in India. Share your nostalgic moments and tell us how much you miss the festivities from back home and enter to win $1,000.
How to enter:
- Visit Xoom’s Facebook page and click on the sweepstakes tab: https://www.facebook.com/Xoom/app_159937697536889
(note: tab not available on mobile devices).
- “Like” Xoom on Facebook. If you already “like” Xoom, the question page will be displayed.
- Post a comment to the question: ‘What do you miss most about celebrating Diwali in India?’
- Complete the sweepstakes form and submit it by 11:59 PM PDT on Thursday, November 7, 2013. Limit one entry per person.
- The winner will be selected in a random drawing and will be notified via email with instructions on how to claim the $1,000 cash prize.
For complete rules, visit: https://www.facebook.com/notes/xoom/official-rules-of-the-xoom-2013-diwali-sweepstakes/10151951272444721
Earlier this year, Xoom announced that NRIs (Non-Resident Indians) can use Xoom’s money transfer service to send bank deposits directly to their NRE (Non-Resident External) and NRO (Non-Resident Ordinary) bank accounts in India. NRIs can now send bank deposits within four hours to recipients with NRE/NRO accounts, with great locked-in exchange rates. Customers can visit Xoom.com/india for more information.
Xoom is a digital money transfer provider, focused on helping consumers send money in a secure, fast and cost-effective way using a smartphone, tablet or computer. During the 12 month period ended June 30, 2013, Xoom’s more than 915,000 active customers sent more than $4.3 billion to family and friends in 30 countries. The company is headquartered in San Francisco and can be found online at www.xoom.com.
Post a Photo to Facebook, Twitter or Instagram using the hashtag: #xoomindia with Xoom’s Times Square Video in the background
Xoom is celebrating India Independence with a video featuring India’s biggest superstar and Xoom brand ambassador Amitabh Bachchan. The Xoom video will appear on the Nasdaq Tower and Thomson Reuters screens in the heart of Times Square in New York City. Post a photo on Facebook, Twitter or Instagram for a chance to win $1000.
People can post a photo or video on Facebook, Twitter or Instagram of themselves posing with the Xoom video display on the Nasdaq Tower or Thomson Reuters screens. Use the hashtag #xoomindia and qualify for a chance to win a $1000 cash prize. The photo can showcase Amitabh Bachchan’s Xoom video (or any Xoom advertisement) and posted no later than August 19, 2013, 11:59 PM (PDT). Read full terms and conditions.
Thursday, August 15 – Sunday, August 18, 2013; photos must be posted by Monday, August 19, 11:59 PM (PDT)
Anyone can qualify – as long as they post a photo with a Xoom ad in the background ($1000 prize winner will be selected at random)
Times Square, 43rd Street and Broadway, New York, NY or anywhere in the United States with a Xoom advertisement in the background
Xoom is a digital money transfer provider, focused on helping consumers send money in a secure, fast and cost-effective way using a smartphone, tablet or computer. During the 12 month period ended June 30, 2013, Xoom’s more than 915,000 active customers sent more than $4.3 billion to family and friends in 30 countries. The company is headquartered in San Francisco.
Starting September 4, Raghuram Rajan will take over as head of India's central bank.
The former chief economist for the International Monetary Fund is now tasked with stabilizing the economy and preventing any serious problems from emerging, according to the Financial Times.
The changes might affect people who send money to friends and family in India, which has been described as the second fastest growing economy in the world by Finance Minister P Chidambaram, the Indian Express noted.
Despite economic concerns affected many nations, Chidambaram is confident about India's outlook.
"People should be confident…self confident and take bank loan to invest in farm sector, small industries, housing etc," he said at a bank function. "You should hope for bright tomorrow, and not worry about the slow down."
Chidambaram added that an economic slowdown has affected many countries, including the fastest growing one in the world – China.
Rajan is also confident in India's economy, and he believes that his organization has the means to help.
"We do not have a magic wand to make the problems disappear instantaneously, but I have absolutely no doubt we will deal with them," he told Reuters in an interview.
An online money transfer is a great way to help loved ones, and support the Indian economy.
Recently, the All India Football Federation, or AIFF, announced that the formation of a new style of football league was proceeding as planned.
In partnership with IMG-Reliance, the tournament will be similar to the nation's current cricket Indian Premier League, according to DNA India. The goal is to help boost the popularity of football in the country, and there will be eight new clubs formed starring 176 players, including some potentially big names.
Many people send money to friends and family in India, and perhaps catching a match, which will run between January 18 and March 30, is a great way to spend an afternoon.
The AIFF is already attracting some high profile buyers for its franchises, such as Bollywood star Shah Rukh Khan, according to the Times of India. One city which is expected to add a team to the new league is Kolkata, which has attracted the attention of Shah Rukh.
While the short time span isn't expected to produce continued success for Indian football like the current I-league is doing, AIFF president, Praful Patel, hopes that it can increase viewership and attract more fans, according to NDTV Sports.
"Through this tournament we are looking for the popularization of Indian football and taking the game to the masses," Patel told reporters. "I league and this tournament will go hand-in-hand."
Ideally, the players for the new league will combine Indian football stars and overseas icons. While the I-league will retain its big names, many others could make an appearance in the tournament.
Patel expects any issues with players to be sorted out relatively easily, given that this is the inaugural year for the league. He told reporters that he doesn't think there will be any issue between the governing bodies in regards to the formation.
An online money transfer might provide a quick and easy method for taking in a sporting event, or managing finances for other aspects of daily life.
On July 26, 1982, famous actor Amitabh Bachchan was seriously injured performing a stunt on the set of his film Coolie. The Indian star, known for a number of classic movies and a long career in many facets of the entertainment industry, has since attributed August 2 – the day of his near-miraculous recovery – as his "second birthday."
An online money transfer is a great way to relieve daily financial stress, and many people who send money to family and friends in India could re-watch Coolie, and remember the film that changed Bachchan's life.
Recently, the star took to Twitter to remember the occasion, and said "T 1188 -So its past the midnight hour and many birthday wishes coming in for Aug 2 .. the day I lived again after 'Coolie' accident .."
The incident occurred when Bachchan was performing a stunt, and landed awkwardly on the edge of a table, according to the Times of India. He was quickly taken to Breach Candy Hospital, where he received an emergency splenectomy. He was so close to death during the ordeal, that when Bachchan returned to health, he celebrated the occasion as a second chance at life.
During the ordeal, many of the actor's fans, supporters and family took to the streets to pray a quick recovery, NDTV Movies noted.
As a sign of thanks, on August 1 Bachchan also tweeted: "T 1188 -What should be said on such occasions. The efficiency of the doctors at Breach Candy and the prayers of millions saved me."
Not surprisingly to many, Bachchan returned to the set of Coolie after his hospital stay, and finished filming, according to NDTV Movies. Once released, the movie had instant commercial success, like so many of the great actor's other movies. The many people who send money to India might be able to appreciate Bachchan's strength, and catch one of his films. Not only did he finish Coolie, the director re-wrote the ending to reflect the hurdles Bachchan overcame while making the movie.