World’s third-largest money transfer firm expands to the GCC
dubai — Ria Money Transfer, the third-largest money transfer company in the world and subsidiary of Euronet Worldwide, has announced its expansion and rampup in GCC countries, with more than 50 key business partnerships in the banking and financial services sector.
Speaking at a Press conference in Dubai, Juan Bianchi, CEO and president of Ria Money Transfer, also announced that the company has launched an industry-leading outbound remittance service to India, having partnered with three large money transfer agents in the world’s number one remittance receiving country.
Ria’s new principal agents — Paul Merchants, Weizmann Forex and Transcorp International — are well-recognised in India and have more than 15 years’ experience in the money transfer sector. With the addition of these agents, Ria will upgrade its cash payout network during the next 12 months by adding tens of thousands of high-quality retail and non-bank financial company locations across India.
“With the addition of our new agents, Ria will raise the quality of its existing network in India, providing customers with thousands of additional locations to receive cash remittances from their loved ones. Through [our partners]... we are now better positioned to offer customers in India a ‘gold standard’ service, with money transfer that is fast and reliable, no matter where they reside,” said Bianchi.
Ria’s expansion in the Middle East and Gulf countries is the most recent in a line of strategic moves for the company, which forms part of Euronet’s money transfer segment.