The strategic partnership extends cash payout offering by 4,368 locations for significant nationwide reach
BUENA PARK, Calif., Dec. 17, 2020 (GLOBE NEWSWIRE) -- Ria Money Transfer, a global leader in the cross-border money transfer industry and subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), and Pos Indonesia, the state-owned postal service company in Indonesia, today announced their new partnership to provide cash payouts across Indonesia. The Indonesian expat community will now be able to send secure international remittances to family and friends for collection from 4,368 post office branches throughout the region.
The collaboration executes on Ria’s long-held, overarching expansion strategy of growth through its postal network. The agreement represents a landmark debut into Ria’s APAC expansion with the inclusion of Pos Indonesia’s locations and reinforces Ria’s position as a global leader in postal partnerships. It also validates the importance of the role of post offices as the last-mile delivery of cash pick-up services for communities.
This partnership recognizes Indonesia’s status as one of the largest remittance markets in the world and the heavy reliance on cash payouts by migrant workers, particularly from Saudi Arabia and Malaysia. Indonesia’s vast and complex geography and 200+ million population combined with Pos Indonesia’s nationwide ability to reach remote locations through its multi-province operation embodies Ria’s commitment to bring trust, convenience and choice to customers in every corner of the region.
“We’ve long valued the unique opportunities partnering with postal operations brings and this collaboration with Pos Indonesia enables us to continue our commitment to support communities through accessibility, competitive pricing and exceptional customer service,” said Juan Bianchi, CEO of Euronet’s Money Transfer Segment. “This partnership further consolidates our position as the leading money transfer partner for postal organizations around the world.”
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 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