Ria Money Transfer expands network in India

Ria Money Transfer, a subsidiary of Euronet Worldwide, has partnered with three cash remittance payout agents.

Ria Money Transfer expands network in India

Ria Money Transfer, a subsidiary of Euronet Worldwide, has partnered with three cash remittance payout agents Paul Merchants, Weizmann Forex and Transcorp International to expand its network in India.

The partnership is expected to upgrade Ria’s cash payout network in one year by adding retail and non-banking financial company locations across the country. It will also provide convenience and accessibility for beneficiaries to receive cash remittances.

According to the Ria, nearly 15.6 million Indians live outside their country of birth, making them the largest diaspora group globally. The country received $62.7bn in 2016. GCC countries sent approximately $38.6bn to India in 2016, while the US sent $11.7bn.

Ria Money Transfer CEO and president Juan Bianchi said: “By partnering with Paul Merchants Limited, Weizmann Forex and Transcorp International, Ria will raise the quality of its existing network in India and provide customers with a ubiquitous spread of locations to receive cash remittances from their loved ones, no matter where they reside.

“We look forward to having long-term, successful partnerships with all our principal agents, and warmly welcome them to the Ria family.”