The partnership will significantly increase Ria's customer base, adding more than 100m mobile account users through Thunes' existing partners in the mobile payments sector.
SINGAPORE, Oct. 20, 2020 /PRNewswire/ -- Ria Money Transfer, a global leader in the money transfer industry and subsidiary of Euronet Worldwide Inc. (NASDAQ: EEFT), and global cross-border payment provider Thunes announced today a strategic partnership to enable customers across the globe to send funds directly to millions of mobile wallet users and bank account holders in key emerging markets.
Now, thanks to this partnership, Ria's extensive agent network can also send funds directly to mobile wallets, beginning with the addition of more than 100 million mobile money users to the company's beneficiary customer base. The agreement promotes Ria's continuous expansion in Asia, Africa, and LATAM through Thunes' connections to digital wallets and banks. These include strong market players like M-Pesa in East Africa as well as MTN Mobile Money across the continent and other wallets in Tanzania, Uganda, Malawi, and Rwanda with more to come. This agreement follows Ria's strategy to fast-track its digital services, gaining ground in a rapidly evolving market with a growing demand for mobile money and alternative payment solutions.
In addition to its extensive global network, Thunes provides advanced technological capabilities and a robust platform, enabling Ria to further enhance its digital services by delivering a fast, convenient, and affordable payment experience to its customers.
"At Ria, we are always looking for ways to facilitate access to remittance services. It's vital for so many around the world who rely on funds from abroad to make ends meet," shared Juan Bianchi, CEO of Euronet's Money Transfer Segment. "Partnering with businesses like Thunes, who understand the important role we play in the everyday life of our customers, is, without a doubt, the best way to continue expanding our digital product offering and global footprint."
Peter De Caluwe, Thunes CEO, commented: "Partnering with Ria, a global leader in the cross-border money transfer sector is another example of the importance of our interoperable payment network. We look forward to working together to drive greater access to financial services in emerging markets across Asia and Africa."
About Ria Money Transfer
Ria, a subsidiary of Euronet Worldwide, Inc. (NASDAQ: 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 435,000 locations across more than 160 countries and online at www.riamoneytransfer.com.
Thunes is a B2B cross-border payments network that enables corporates and financial institutions to move funds and provide financial services in emerging markets. Our global platform connects mobile wallet providers, banks, technology companies and money transfer operators in more than 100 countries and 60 currencies. Thunes is headquartered in Singapore with regional offices in London, Shanghai, and New York.
For more information, visit www.thunes.com