) have been on an uptrend since the company launched a text
update service on Oct 14, 2013. People of the Philippines are
relieved by the news from the San Francisco based digital money
transfer provider, regarding the launch of the text update
service by the company for money transfer recipients in the
Philippines. Shares of Xoom Corporation shored up 3.1% to $34.70
on Oct 15, 2013.
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The new text update service provides SMS text messages to the
money recipients involved in a money transfer transaction, making
money transfers more convenient and reliable. The texts would be
sent stating whether the money is ready for pickup, delivery or
even if it is on its way to their bank account. Thus the new
feature allows recipients to track the money transfers from start
to finish which in turn would help Xoom Corporation to retain
In the course of money transfer transactions, customers at the
receiving end are often anxious as to whether their money has
been dispatched or whether it is available at that point of time.
In this regard, if they were to get notified by the money
transferring entity, it becomes convenient for the recipients to
know when to pickup the money and decide their necessary actions
accordingly. To cater to this need of the customers in the
Philippines, Xoom Corporation has introduced the new text update
Xoom Corporation consistently focuses on enhancing its customer
service. Earlier in January this year, Xoom Corporation had
launched a money transfer tracking center - StatusTrak. This
tracking center was designed to help money senders to track their
money transfers. Towards this, they were notified from time to
time through emails and SMS text messages. Customers could also
seek help through the 24x7 online and phone support. With the
launch of the new text update service Xoom Corporation now
intends to satisfy the money recipients through its convenient
and enhanced services.
According to business reports, Filipinos use SMS text messages
extensively to communicate back home, generating the largest SMS
text volume in the world (more than 10% of global SMS texts).
Owing to this large scale use of SMS text messages, Xoom
Corporation recognizes that introducing a text update service
would be extremely beneficial to the people of Philippines. We
believe with the increasing number of money transfer transactions
in Philippines, this new customer service enhancement would not
only help Xoom Corporation to retain existing customers but also
to procure more clients thereby improving market share.
Xoom Corporation currently carries a Zacks Rank #2 (Buy). Among
other financial services companies,
) carry a favorable Zacks Rank #1 (Strong Buy) while
) share the same Zacks Rank as Xoom Corporation.