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Ria Money Transfer advances its Eastern European postal service expansion through new partnership with Posta Moldovei

27 Noiembrie 2020
The partnership significantly expands Ria’s network in Moldova with the addition of 1,146 post offices, facilitating cash payouts including local currency for the first time
 
Buena Park, CA, November XX, 2020 – Ria Money Transfer, a global leader in the cross-border money transfer industry and subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), and Posta Moldovei, Moldova’s largest postal operator, announced today a new strategic partnership that enables customers to collect cash payouts in Moldovan Lei for the first time in the country in addition to standard payouts in euros and US dollars.
 
The partnership opens up new channels of distribution through Posta Moldovei’s extensive 1,146-strong network of post offices enabling cash pick-ups in local currency at any Posta Moldovei location and creating more convenience and choice for customers for whom cash payouts still perform a critical role.
 
The alliance is in line with Ria’s ongoing expansion strategy through national postal services. This preferred partner postal strategy is a key driver in its recent rapid growth in the region and today’s announcement builds on August’s partnership announcement with Public Enterprise Post of Serbia and June’s announcement with a privat postal operator in Ukraine. Supported by Ria’s competitive pricing and its industry-leading bank deposit service, postal collaborations create value-added opportunities for partners to power volume-led growth across their operations.
 
Partnerships with Eastern European postal networks, either directly or via third party integrators, now also facilitate Ria’s services in Albania, Armenia, Bulgaria, Poland, Bosnia & Herzegovina, Armenia, Macedonia and Montenegro, among others.
 
“We’re delighted that through the extended reach that our partnership with Posta Moldovei brings, we’re making secure, competitive payments easily accessible to customers in the furthest reaches of the country,” said Juan Bianchi, CEO of Euronet’s Money Transfer Segment. “This latest addition to our expanding postal network strengthens our presence in Eastern Europe and represents our ongoing commitment to both communities and partners in the region.”
 
Because of large out-migration, remittances play an increasingly vital role in the Moldovan economy. World Bank figures state the Moldovan economy has expanded by an annual average of 4.6% over the last 20 years with a substantial part of this advancement fuelled by remittances, which now account for 10% of GDP.
 
In addition, a June 2020 IOM study revealed a quarter of Moldovan households receive remittances and, for half of these, remittances constitute more than 50% of disposable income.
 
About Ria Money Transfer
 
Ria, a subsidiary of Euronet Worldwide, Inc. (EEFT), is a global leader in the money transfer industry. The company is steadfast in its commitment to its clients and their communities, offering fast, secure, and affordable money transfers through a network of over 447,000 locations spanning across 165 countries and online at www.riamoneytransfer.com.
 
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