EbixCash’s Payments Solution Division Receives Two Awards from the World’s Second Largest Consumer Remittance Company - Ria
EbixCash Limited announced recognition for its Payments Solution Division for outstanding growth in managing Ria Money Transfer in India. In 2021, EbixCash's remittance operations represented approximately 75% of Ria's business in the region. The company also surpassed its goal by establishing 100,000 agent locations for Ria’s services, significantly exceeding its original target of 40,000. These achievements showcase EbixCash's leadership in the international remittance sector, reinforcing its market position in India.
- Surpassed remittance growth expectations, achieving 75% of Ria's business in India.
- Established over 100,000 agent locations, exceeding the target by 100%.
- None.
JOHNS CREEK, Ga., July 11, 2022 (GLOBE NEWSWIRE) -- 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.
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% .
Photos and video of the awards ceremony are available at https://ebixcash.com/awards/ebixcash-receive-award/
About Euronet, Money Transfer Segment
Euronet Worldwide, Inc. (NASDAQ: EEFT) 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. For more information, please visit the company's website at https://www.euronetworldwide.com/segments/moneytransfers
About EbixCash
With a "Phygital” strategy that combines over 650,000 physical agent distribution outlets throughout India and Southeast Asia as of December 31, 2021, to an Omni-channel online digital platform, the Company’s Financial exchange portfolio of software and services encompasses domestic and international money remittance, foreign exchange (Forex), pre-paid gift cards, utility payments, travel services and technologies for insurance, bus information systems, lending and wealth management across 75+ countries including India. EbixCash has Forex operations in approximately 16 international airports, including Delhi, Mumbai, Mumbai, Hyderabad, Chennai and Kolkata. EbixCash is a leader in the international remittance business based on gross transactional value. EbixCash, through its travel portfolio (Via.com and EbixCash.com), is one of the leading travel exchanges based in India and catering to Southeast Asian markets, with over 517,000 agents and approximately 17,900 registered corporate clients. EbixCash's financial technologies business offers software solutions to various clients in the areas of wealth, asset and lending management, insurance and bus information systems. EbixCash's business process outsourcing services provide information technology and call center services to a variety of industries. For more information, visit the Company’s website at www.ebixcash.com
Disclaimer:
EbixCash Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India. The DRHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, Motilal Oswal Investment Advisors Limited at www.motilaloswalgroup.com, Equirus Capital Private Limited at www.equirus.com, ICICI Securities Limited at www.icicisecurities.com, SBI Capital Markets Limited at www.sbicaps.com and YES Securities (India) Limited at www.yesinvest.in, respectively, and the websites of the stock exchange(s) at www.bseindia.com and www.nseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see "Risk Factors" of the RHP, when available. Potential investors should not rely on the DRHP for any investment decision.
About Ebix, Inc.
With approximately 200 offices across 6 continents, Ebix, Inc., (NASDAQ: EBIX) endeavors to provide on-demand software and e-commerce services to the insurance, financial services, travel, healthcare and e-learning industries. In the Insurance sector, Ebix’s main focus is to develop and deploy a wide variety of insurance and reinsurance exchanges on an on-demand basis, while also, providing Software-as-a-Service ("SaaS") enterprise solutions in the area of CRM, front-end & back-end systems, outsourced administration and risk compliance services, around the world.
Through its various SaaS-based software platforms, Ebix employs thousands of domain-specific technology professionals to provide products, support and consultancy to thousands of customers on six continents. For more information, visit the Company’s website at www.ebix.com
CONTACT:
Ebix -
Darren Joseph
+1-678-281-2027 or IR@ebix.com
Catalyst Global - David Collins, Chris Eddy
ebix@catalyst-ir.com or +1-212-924-9800
FAQ
What is the significance of EbixCash's awards announced on July 11, 2022?
How many agent locations did EbixCash establish for Ria Money Transfer services?
How does EbixCash's performance impact the stock symbol EBIX?
