Euronet Worldwide, Inc.’s EEFT subsidiary Ria Money Transfer recently entered into a strategic collaboration with bank99, Austrian Post’s new banking and financial entity. A strategic partnership that enables customers to send secure international remittances from 700 of the bank’s post office branches and partner locations through Ria’s global network of 397,000 locations across 160 countries. The facility will be effective Apr 1, 2020 with specific branches providing services by May 4, 2020. The partnership is part of Ria’s strategy to become the preferred partner of post offices and large chain retailers for enabling secure remittances, transparency, and true product assortment to their customers.
For those of who you have might have forgton, just last year Ripple has announced the addition of Ria Money Transfer a subsidiary of Euronet Worldwide to its RippleNet blockchain payments network. Ria transfers $40 billion of money per year. Euronet claims to be one of the largest global money transfer companies, the world’s large payment network for pre-paid mobile topup and one of the largest independent ATM networks in Europe. It has a market capitalisation of $7.7 billion.
Georg Pölzl, Austrian Post CEO, said, “Fast, secure and convenient, that is what customers expect from a money transfer. With Ria Money Transfer we have found the ideal partner for our bank99 to offer our customers not only that right from the start, but also a world-class service.”
“This partnership presents a fantastic opportunity to strengthen our presence in Austria, and most importantly to support the Austrian Post’s legacy of reducing distances and promoting equality,” said Juan Bianchi, Euronet Executive VP and CEO, Money Transfer. “We look forward to working alongside bank99 to continue our resolve to offer customers more choices and greater convenience.”