Ria Money Transfer Partners with Mooney, Unlocking Payments Access to 45K POS and a Nationwide Retail Network in Italy

Rhea-AI Summary

Ria Money Transfer has announced a strategic partnership with Mooney to enhance its international payments distribution in Italy. This collaboration allows Ria to leverage Mooney’s network of approximately 45,000 points of sale, servicing 20 million customers and facilitating over 200 million transactions annually. Customers can now send and receive euros more conveniently at Mooney’s POS terminals. This partnership aligns with Ria's growth strategy, aiming to improve customer experience and financial inclusion across Italy.

Positive

• Strategic partnership with Mooney expands Ria's distribution network in Italy.
• Access to approximately 45,000 points of sale enhances customer reach.
• Potential digital partnership through Mooney app integration.
• Aligns with Ria's growth strategy focusing on convenience and accessibility.

Negative

• None.

New agreement expands Ria’s international payments distribution capabilities through its partnership-led growth strategy

BUENA PARK, Calif., May 27, 2021 (GLOBE NEWSWIRE) -- Ria Money Transfer, a global leader in the cross-border money transfer industry and subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), today announced the extension of its distribution network through a strategic collaboration with Mooney, one of Italy’s foremost proximity banking and payments companies. This partnership enables Ria to deliver its key principles of convenience, simplicity and value for money to Mooney’s nationwide coverage in Italy of approximately 45,000 points of sale and 20 million customers who make more than 200 million transactions per year.

By completing a streamlined onboarding process of Ria’s world-leading payment services at Mooney’s POS terminals, customers will now be able to send and receive euros with new levels of accessibility. This alliance is a significant expansion of Ria Money Transfer’s Italian marketplace and execution of the company’s continuing partnership-led growth strategy. In addition to gaining network access, the deal creates future opportunities for a digital partnership through Ria’s integration into the Mooney app.

“Through Mooney, we have found the perfect partner to extend Ria’s customer reach to potentially every corner of Italy and make our fast, secure and competitive international payments simpler and more accessible for millions of customers,” said Juan Bianchi, CEO of Euronet’s Money Transfer Segment. “The unifying vision of this collaboration is to improve the customer experience and provide excellence in the payments landscape.”

“We are pleased to make our technological platform and our network of affiliated points of sale available to Ria Money Transfer, which provides a tool of financial inclusion to a broader global community. This partnership enables money transfer services for customers from one side of the world to the other shortening any time and distance between them,” said Salvatore Borgese, General Manager - Commercial & Banking Services at Mooney.

About Ria Money Transfer

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 its industry. Bridging the gap between digital and physical transactions, Ria’s omnichannel products and services, together with the company’s rapidly expanding alternative global payout capabilities, provide unprecedented consumer choice, including agents and partners, real-time payments, home delivery, mobile wallets, and cardless ATM payout (exclusively with Ria).

Ria’s global infrastructure facilitates financial access to customers and partners alike, promoting economic growth around the world by opening new market opportunities. Ria opens ways for a better everyday life.

About Mooney

Mooney is the first Proximity Banking & Payments company in Italy which has inherited the experience of two excellences in different, but complementary business sectors: SisalPay in the field of payment services, and Banca 5 (Intesa Sanpaolo Group) in banking.

Thanks to its extensive network of over 45.000 points of sale throughout Italy that is fully integrated within the digital ecosystem, Mooney plays an important social role. Always close to the community, it provides simple, fast, and safe access to a wide range of payment solutions - as bills, prepaid cards, mobile recharges - as well as transactions - such as cash withdrawals and deposits, wire transfers and payment orders - formerly available only through bank branches.

FAQ

What is the significance of Ria's partnership with Mooney?

The partnership significantly expands Ria's distribution capabilities in Italy, allowing access to a large customer base and numerous transaction points.

How many points of sale does Mooney have?

Mooney has approximately 45,000 points of sale across Italy.

What is the ticker symbol for Euronet Worldwide?

The ticker symbol for Euronet Worldwide is EEFT.

When was the partnership between Ria and Mooney announced?

The partnership was announced on May 27, 2021.

How many customers does Mooney serve?

Mooney serves around 20 million customers annually.