Ria Money Transfer Continues Expansion Through Postal Services With New Poșta Română Partnership
Ria Money Transfer has announced a partnership with Compania Națională “Poșta Română” S.A., Romania’s national postal service, significantly enhancing its cross-border remittance services. This collaboration nearly doubles Ria’s network in Romania, adding 1,200 post offices and potential access to over 5,500 locations. The move aims to provide cost-effective, rapid money transfer solutions, catering to the large Romanian diaspora and expanding Ria’s customer reach. The partnership is expected to bolster market growth and inclusivity in financial services.
- Partnership with Romanian Post expands reach by nearly doubling Ria's distribution network.
- Access to more than 5,500 locations enhances convenience for customers.
- Opportunity for substantial market growth, particularly among the Romanian diaspora.
- None.
Collaboration expands customer reach and nearly doubles Ria’s network for cross-border remittance payments and collections in Romania
BUENA PARK, Calif., Dec. 22, 2020 (GLOBE NEWSWIRE) -- 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.
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.
“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.
About Ria
Ria Money Transfer, a subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), delivers innovative financial services including fast, secure, and affordable global money transfers. With the second most extensive cash settlement network and the largest direct bank deposit network in the world, Ria gets money to where it matters.
Ria’s integration into Euronet Worldwide’s REV Payments Cloud provides a gateway to a suite of state-of-the-art fintech products and services, advancing the company to the forefront of our industry. Bridging the gap between digital and physical transactions, our omnichannel products and services, together with our rapidly expanding alternative global payout capabilities, provide unprecedented consumer choice; these include agents and partners, real-time payments, home delivery, mobile wallets, and cardless ATM payout (exclusively with Ria).
Our global infrastructure facilitates financial access to customers and partners alike, promoting economic growth around the world by opening new market opportunities. At Ria, we open ways for a better everyday life.
Media Contact: Aura Martínez Schifflers
comms@riafinancial.com
About Romanian National Post Company
Romanian National Post Company is owned by the Romanian state, through the Ministry of Transports, Infrastructure and Communications in proportion of
The company has the largest distribution network nationwide, being the largest employer - over 24.000 employees, with 5.500 post offices / counters, and over 19 million inhabitants benefit from its services and over 7.5 million addresses are covered by your own postal network.
FAQ
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