Ria Money Transfer
| Company type | Division |
|---|---|
| Industry | Financial services |
Area served | Worldwide (North America, South America, Europe, Asia-Pacific, Africa) |
| Products | International money transfers, mobile money transfer app |
| Parent | Euronet Worldwide, Inc. |
Ria Money Transfer operates as a division of Euronet Worldwide, Inc., focusing on international money transfers. The company delivers its services through a broad network of agents and owned outlets spanning North America, South America, Europe, Asia-Pacific, Africa, as well as online platforms. It is recognized as one of the top four remittance providers worldwide.
History
Ranking as the second-largest global money transfer provider, Ria was acquired by Euronet Worldwide in 2006 and integrated into Euronet's money transfer division alongside XE.
Starting in 2010, Ria initiated partnerships with postal services and, by 2014, collaborated with Kenya's Postbank to facilitate sending and receiving funds through 99 branch locations. That year also saw the introduction of Walmart-2-Walmart Powered by Ria, a US-based transfer service connecting more than 4,600 Walmart stores with competitive pricing.
Ria further broadened its reach by acquiring Malaysia’s IME in 2015. The following year, it expanded its Walmart collaboration into Latin America via Walmart Chile’s Líder supermarket chain. By 2019, Ria and Walmart joined forces with PayPal’s Xoom to provide domestic money transfers across 60 countries.
By 2020, Ria’s offerings were accessible at upwards of 470,000 points of service in 159 nations through both physical locations and digital channels including their mobile app. Growth in Latin America continued through a joint venture between Euronet and Spain-based Prosegur Cash.
In March 2021, the Central Bank of Nigeria granted approval for Ria to operate as an international money transfer operator catering to diaspora remittances. First Bank of Nigeria partners with Ria to support incoming transfers.
During the COVID-19 pandemic, the World Bank emphasized the critical role of remittances for vulnerable groups. Ria holds a substantial market share in Belarus and is acknowledged as a leading provider for transfers from the US to Mexico.
Ria Money Transfer App
The Ria Money Transfer App, available on both Android and iOS platforms across the US, Canada, and much of Europe, has surpassed one million downloads. This app allows users to send funds worldwide utilizing Ria’s vast network.
Mobile Money
Ria supports fund transfers through its mobile wallet system, notably prominent in Sub-Saharan Africa where remittance expenses are among the highest. In partnership with Gambia’s Qmoney platform, Ria enables smooth mobile transactions between users.