EbixCash Limited, a technology enabled provider of digital products and services in the B2C, B2B and financial technology arena, today announced that its Payments Solution Division has been honored with two awards for leading the growth of Euronet Worldwide, Inc.’s Ria Money Transfer business in India. Ria is the second largest consumer remittance company in the world today. EbixCash – a subsidiary of Ebix, Inc. (NASDAQ: EBIX) is a leader in the international remittance business in India, based on gross transactional value.
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Dr. Emil Ruban, Ria Financial’s Managing Director & Country Manager – India, presented the awards to EbixCash Chairman Robin Raina at the EbixCash headquarters in Noida, India. The awards acknowledged: –
- “Outstanding Growth in 2021” reflecting growth in EbixCash’s remittance business to approximately 75% of Ria’s money transfer business in India in 2021.
- The appointment and licensing of “100,000 Agent Locations in India” to handle Ria’s money transfer services. As a part of its contract with Ria a few years back, EbixCash had committed to take the reach of Ria into 40,000 of its franchises across India and thus this award was for beating that target number by more than 100%.
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Euronet Worldwide, Inc. Money Transfer Segment comprises three core products: Ria, Xe and Dandelion. Ria is the second largest consumer remittance company in the world, offering real-time international money transfers with a special focus on emerging markets. Xe is the trusted currency authority, with hundreds of millions of web and app users around the world, offering currency information and industry leading consumer and business money transfers services. Powering Xe and Ria is Dandelion, the largest real-time cross-border payments network in the world; it offers consumer and business transaction processing and fulfillment to 170 countries and territories with alternative payout channels like bank accounts, cash pick-up, and mobile wallets. Beyond Euronet’s own services, Dandelion also powers cross-border payments for third party banks, fintechs, and big tech platforms.
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