San Francisco: Xoom Corporation has announced that it is expanding its instant online-to-offline money transfer service to Pakistan, along with its local market distribution partner, Instant Cash -- a subsidiary of The Patel Group.
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Non-Resident Pakistanis worldwide will now be able to send money home instantly and securely via www.xoom.com. The cash will be available immediately, through a wide distribution network available to recipients through 70 United Bank Ltd. (UBL) locations. “We are very excited to be able to offer our service to the global Pakistan community,” said Kevin Hartz, co-founder and CEO of Xoom. “This will give Pakistanis living abroad a more convenient and secure way to send money home.”
“We are pleased to strengthen our partnership with Xoom,” said Praveen Chandiramani, Chief Operating Officer of Patel Group’s Instant Cash. “Based on our initial success in India, this is a great opportunity to offer this service through our network in Pakistan, as well as Hong Kong, Nepal, the Philippines and Sri Lanka.
Pakistan is part of Xoom’s long-term strategy to increase its presence worldwide. The company currently has service to India, the Dominican Republic and Jamaica. Service to more Lat
in American and additional Asia markets are planned in 2004.
About Xoom
Xoom Corporation is an online-to-offline international money transfer service. Xoom offers a secure, fast, and inexpensive means to send money online-to-offline recipients in eight countries, including Dominican Republic, Jamaica, India, Hong Kong, Nepal, Pakistan, Philippines, and Sri Lanka. All transactions are processed securely through PayPal, an eBay company. Xoom Corporation’s headquarters is located at 208 Utah Street, Fourth Floor, San Francisco, CA, 94103, tel: (415) 621-4926, fax: (415) 621-9901, Website: www.xoom.com.
About Instant Cash
Instant Cash, a global remittance company held by the US$ 2+ billion Patel Group, is headquartered in Dubai and has over 2000 retail outlets worldwide. The Patel Group is the largest courier group in Asia, with publicly listed holdings in finance, construction and logistics. Instant Cash has been a trusted money transfer service for over 20 years, and is known for excellent customer service and secure cash distribution. The company can be accessed on the Web at www.wallstreetinstantcash.com.
About United Bank Limited
UBL has assets of over Rs. 190 billion, Shareholder’s Equity of over Rs. 12 billion and a solid track record of 43 years - in addition to the convenience of over 1000 branches serving you throughout the country and also at several overseas locations. The company can be accessed on the Web at www.ubl.com.pk.