Xoom, a San Francisco-based digital money transfer provider, has launched an instant deposit service for all ICICI bank account holders in India.
The new service, which is available throughout the year, allows Xoom customers to instantly send money directly into their recipients’ accounts.
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The company said that instant deposits to ICICI bank will be processed via its partnership with Punjab National Bank.
Xoom also provides instant deposit service to other banks such as Punjab National Bank, HDFC Bank, Union Bank of India, Bank of Baroda, Federal Bank and Yes Bank.
Xoom added that its customers can download the app for free from Android and iOS mobile devices.
Xoom senior vice president of marketing and business development Julian King said: "Speed and convenience are what customers expect from Xoom’s service and we continue to do just that in our mission to provide instant deposit to even more banks in India."
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