New York, Oct 29: Xoom Corporation has launched an instant online-to-offline money transfer service in India, the world's largest remittance market. The company has appointed Wall Street Instant Cash, a subsidiary of the Patel Group that has a broad network of retail outlets across India, as its local market distribution partner, a media report said here, quoting the company officials.
The worldwide non-resident Indian community, the company said, will now be able to send money home instantly and securely via www.Xoom.com. The cash will be available immediately to recipients at any national Wall Street Instant Cash location, seven days a week. Door-to-door, direct deposit and bank draft delivery service will be offered later this year.
"We are very excited to be able to offer our service to the global nonresident Indian community," said Kevin Hartz, co-founder and CEO of Xoom. Xoom said currently it offers a secure, swift, and inexpensive means to send money from 38 countries to recipients in India, the Dominican Republic, and Jamaica.
Wall Street Instant Cash is a remittance company held by the two billion dollar Patel Group that is headquartered in Dubai. Bureau Report