Collaboration expands customer reach and nearly doubles Ria’s network for cross-border remittance payments and collections in Romania
Ria Money Transfer, a world leader in the cross-border money transfer industry and subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), continues the expansion of its global network with the announcement of a new partnership with Compania Națională “Poșta Română” S.A., Romania’s national postal service operator, that further advances its postal partner strategy and enables customers to send and receive funds in Romanian Lei and euros in minutes.
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Almost doubling Ria’s current distribution network in the territory, the partnership will extend sending and pay-out capabilities through the addition of 1,200 Poșta Română post offices with the potential for more than 5,500 locations. Centered on delivering convenience, speed and trust to the community, this expanded operation supports the developing market and secures essential links to family members and friends living abroad.
The alliance fast-tracks the expansion of Ria, the second largest money transfer operator in the country, and provides the company with an opportunity for substantial additional market growth by providing consumers with a cost-effective alternative among competing services in the area.
Ria’s purpose-built strategy of growth through postal networks opens the door to choice, viability and financial inclusion across the global payments landscape and reinforces its commitment to getting money to where it matters. Through the enhanced consumer experience delivered by increased access to fast, secure and affordable money transfers, Ria’s postal collaborations empower partners to add value to their portfolio of services and dynamically grow remittance volumes to fuel future opportunities.
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“Romania represents an important strategic corridor for Ria so we’re energized by the huge potential of this new partnership with Poșta Română and the multiple opportunities it gives us to extend our proven postal service leadership,” said Juan Bianchi, CEO of Euronet’s Money Transfer Segment. “Facilitating access to our world-class range of financial services in this way unlocks customer reach and establishes vital connections for communities across the region.”
“Our partnership with Ria Money Transfer, an internationally recognized brand, is a certification that we will be able to bring financial transfer services closer to people, which will matter enormously in a country like Romania, which has one of the largest diaspora in Europe. We are constantly trying to reach to our clients by diversifying the offers and financial services we offer through the Romanian Post company,” said Horia Grigorescu, General Manager of the Romanian Post.
