This is old news but it is now VERY relevant as we got news just last month that Ria is a RippleNet partner.
PayPal’s Xoom service has signed a deal with Euronet Worldwide subsidiary Ria, which will offer Xoom customers cash pickup services “at more than 150,000 of Ria’s international network locations,” according to a statement. Ria’s network includes approximately 355,000 global agents. Customers using Xoom can now go online or use mobile devices to send money to 70 percent of countries around the world via this deal.
So why is this such a big deal? Do we all remember the news we got from Ripple Insights in May? Ripple Partners with Ria Money Transfer to Power Instant Global Payments. With customers in over 155 countries, more than 377,000 locations worldwide, and $40 billion in money transfer volume per year, Ria is one of the largest payment service providers in the world. By joining RippleNet’s network of 200+ financial institutions worldwide, Ria can settle transactions with increased speed, transparency and efficiency and deliver a better experience to their customers.
Ria is the second largest money transfer system in the world. Xoom is powered by Earthport, who has been a Ripple partner for several years and who was just purchased by Visa.
The Xoom-Ria deal comes amid continuing changes to the global remittance market because of digitalization and other factors.