BUENA PARK, Calif., July 29, 2014 (GLOBE NEWSWIRE) -- Ria Money Transfer, a global leader in international money transfer and a subsidiary of Euronet Worldwide, Inc. (Nasdaq:EEFT), today announced its expansion in India to include India Post locations through a partnership with Instant Cash, a wholly-owned subsidiary of the Emirates Post Group.
Instant Cash offers competitively priced money transfer services through more than 80,000 locations in 60 countries. By partnering with Instant Cash, Ria gains access to 17,000 India Post locations in the world's largest remittance market, which received about $70 billion in remittances during 2013 according to the World Bank.
Beneficiaries in India can now receive funds transferred through Ria at any of India Post's 17,000 locations across the country. Funds are available within a few hours if sent during Indian banking hours.
"By partnering with Instant Cash, we can offer consumers more convenience when sending both cash-based and online money transfers to their families in India, while maintaining a competitive price and the high-quality service they expect from Ria," stated Juan Bianchi, President and Chief Executive Officer of Ria Money Transfer.
Mohit Davar, Acting CEO of Instant Cash, said, "With this strategic partnership, Instant Cash will be able to reach customers in the European and North American markets while connecting them to the rest of our growing network. The USA is the largest money transfer market in the world and with Ria's extensive network in the US and Europe, our postal partners and others will benefit from increased volume from these markets."
For more information on this product or to send money online, visit www.riamoneytransfer.com.
Ria is a global leader in money remittances and is a recognized benchmark in both quality and service. Ria initiates transfers through a network of sending agents and company-owned stores located throughout North America, Europe and Australia as well as online at www.riamoneytransfer.com. In 2013, Ria processed approximately 35 million money transfers with a face value of more than $9 billion through a network of 219,000 locations in 135 countries. Ria is steadfast in its commitment to customers and
remains ingrained within the communities in which they live. For more information visit www.riamoneytransfer.com.
Ria is a subsidiary of Euronet Worldwide, Inc. (Nasdaq:EEFT), a worldwide leader in processing secure electronic financial transactions. Through three business segments - Electronic Financial Transactions (EFT), epay Prepaid Products and Ria Money Transfer - Euronet offers a diverse portfolio of electronic payment alternatives to customers in approximately 155 countries. In addition to consumer-to-consumer and account-to-account money transfer, Euronet's product portfolio includes comprehensive ATM services, point-of-sale processing, card outsourcing services, prepaid
mobile airtime and other prepaid content and mobile operator solutions.
CONTACT: Larry Fogelson
Vice President Correspondent Relations
Ria Money Transfer
Source: Euronet Worldwide, Inc.
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