Xoom Announces Instant Deposit Service to HDFC Bank Accounts in India

Xoom Announces Instant Deposit Service to HDFC Bank Accounts in India

Xoom's Revolutionary Technology Enables Instant Deposits to One of the Largest
Banks in India

SAN FRANCISCO, March 31, 2014 (GLOBE NEWSWIRE) -- 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

"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
https://www.xoom.com/india for more information.

About Xoom

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 www.xoom.com.

About HDFC 

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


Media Contact:
Robin Carr, Xoom

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