Xoom has announced a partnership with HDFC Bank, by offering instant deposits to INR denominated HDFC Bank accounts in India.
“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.”
Using Ripple's enterprise blockchain solutions, Standard Chartered has completed its first real-time cross-border payment for businesses with another major correspondent bank.
Three years on from being acquired by PayPal, Braintree, a company which allows merchants to process a range of different payments, has revealed the number of its payment transactions has increased by 25 times.
Fresh from its $4.5bn IPO, Nordic payments processor Nets has picked Spire as its partner to help with the physical roll out of mobile payments for Dankort customers.
Square has introduced a new update to its contactless and chip readers that reduces transaction speed to 4.2 seconds.