The Money Transfer Leader Continues Its Asia Pacific Expansion, Opening a Store in Little India
Ria Money Transfer, a subsidiary of Euronet Worldwide, Inc. and a global leader in the money transfer industry, announced the opening of its first store in Singapore. Located in Kerbau Road 8 in the Little India area, customers can now send money with competitive foreign exchange rates through Ria’s network of more than 397,000 locations across 160 countries.
For many years, Ria has offered inbound cash pick-up and bank deposit services in Singapore through its 30 agent locations. The Kerbau Road store is the company’s first retail venture in the country.
“We are proud to announce the opening of our store in Little India as part of our Singapore expansion,” shared Espen Kristensen, Ria Managing Director Asia Pacific. “Singapore is a land of great opportunity. By having a solid presence in the country, we can better serve our customers and further support the role of remittances in the region.”
In 2017, the World Bank estimated that remittances valued at US$6.1 billion were sent from Singapore. These funds play a crucial role in other regional economies such as Malaysia, India, Indonesia, the Philippines, and Bangladesh, where the percentage of GDP sustained by remittances can be as high as 10.2%.
The opening of the Little India store is the first step of Ria’s expansion into Singapore, where the company plans to seek other retail locations and agents to offer its customers a robust and unparalleled value proposition in the Singapore market.
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