Ria Money Transfer

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Ria Money Transfer
Subsidiary
IndustryFinancial Services, Electronic funds transfer
Founded1987
Headquarters,
Key people
Juan Bianchi
President and CEO
ProductsRemittance
Number of employees
2000[1] (approx) (2013)
ParentEuronet Worldwide
Websiteriamoneytransfer.com

Ria Money Transfer is a subsidiary of Euronet Worldwide, Inc. which specializes in money remittances.[2] Ria initiates transfers through a network of agents and company-owned stores located throughout North America, Latin America, Europe, Asia-Pacific, Africa, and online.[3]

History[edit]

The company opened its first store in 1987 and has since grown to become the third largest money transfer service in the world.[4] Ria currently serves customers in 144 countries through more than 314,000 locations worldwide.[5]

Ria began working with post offices in 2010 and, on July 31, 2014, partnered with Postbank, which is owned by the Kenyan Government, allowing their customers to send money through any of the bank’s 99 branches, or receive it directly into their accounts.[6] The company continues to expand its postal partnerships to reach more underbanked and underserved customers in hard to reach places.[7]

In 2014 the company launched Walmart-2-Walmart Powered by Ria, a Walmart money transfer service within the US.[8] The service allows customers to transfer money to and from more than 4,600[9] stores at competitive prices.[10] In March 2015, Walmart-2-Walmart Powered by Ria received the "Best Cash Innovation" Gold Award at the PYMNTS.com Innovator Awards.[11] In 2016 the company expanded its relationship with Walmart to Latin America and partnered with Walmart Chile to offer money transfer services through selected Líder brand supermarkets.[12]

Operations[edit]

Ria Money Transfer provides online money transfer services for five sending countries, which are the United States, Canada, the United Kingdom, Australia, and Spain, as well as 160 receiving countries.[13]

Sending countries[edit]

Sending countries with physical locations as well as online sending options (updated as of October 2019):[13]

Sending countries with physical locations, but without online sending options (updated as of October 2019):[13]

References[edit]

  1. ^ Peterson, Eric (30 September 2013). "Confluence: Ria Digital growing in CBD with startup-like business unit". Retrieved 21 August 2019.
  2. ^ "Emirates 24-7:UAE's Instant Cash ties up with Ria Money Transfer of US". Retrieved 4 Nov 2014.
  3. ^ "Ria Money Transfer Offers Cash Pickup Service to American Express Serve® and Bluebird® Customers". Retrieved 5 Nov 2014.
  4. ^ "Ria Money Transfer Service: About". Retrieved 4 Nov 2014.
  5. ^ "Euronet - Euronet Worldwide Reports Third Quarter 2016 Financial Results". ir.euronetworldwide.com. Retrieved 2016-12-21.
  6. ^ "Ria Money Transfer and Postbank Kenya sign deal to boost remittance flows". Retrieved 4 Nov 2014.
  7. ^ "Ria adds more Post partnerships to reach underbanked". Ria Blog. 2016-06-28. Retrieved 2016-12-21.
  8. ^ "Walmart 2 Walmart Money Transfer Powered by Ria". Retrieved 4 Nov 2014.
  9. ^ "Our Locations". corporate.walmart.com. Retrieved 2016-12-21.
  10. ^ "CNBC: Wal-Mart launching money transfer service". Retrieved 5 Nov 2014.
  11. ^ "Walmart-2-Walmart Powered by Ria wins prestigious Cash Innovation Award". Ria Blog. 2015-04-07. Retrieved 2016-12-21.
  12. ^ "Ria partners with Walmart Chile to offer competitive money transfer services". Ria Blog. 2016-08-10. Retrieved 2016-12-21.
  13. ^ a b c "List of countries". Ria Money Transfer. Retrieved 10 Oct 2019.

External links[edit]