Ria Money Transfer’s new partnership with Pos Malaysia extends digital strategy and postal service expansion drive
Cash collection agreement with mobile staging capabilities launches in over 1,000 outlets to more than double Ria’s previous reach in Malaysia
BUENA PARK, Calif., March 08, 2021 (GLOBE NEWSWIRE) -- Ria Money Transfer, a global leader in the cross-border money transfer industry and subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), and Pos Malaysia Berhad (Pos Malaysia), a postal and courier service operator with the largest delivery and touchpoint network in Malaysia, announced today a new cash collection partnership that delivers convenient international money transfer and payments services to customers at all Pos Malaysia outlets nationwide.
Through this partnership, customers will now be able to initiate their transactions via Ria’s leading money transfer app and complete the process by paying in cash at any of Pos Malaysia’s outlets without the need to complete physical forms, allowing for a swift transaction at the counter.
This provides customers an additional choice and payment option for supporting the migrant community in Malaysia and makes sending money home to their families through the international money transfer process easier, more convenient and economical. Furthermore, the facilitation of digital payments to Ria’s customers encourages financial inclusion, allowing customers to view and lock competitive rates in real time from home in addition to the time savings at the counter.
Malaysia is one of the top sending countries to Indonesia, which aligns with Ria’s recently announced partnership with Pos Indonesia. The partnership also further represents Ria’s commitment to communities in the region and the support it offers its partnering organizations through the promotion of convenient transfers and unlocking of value-added opportunities.
“Launching mobile staging capabilities delivers a fast, secure and competitive service for a streamlined user experience. It also demonstrates our continuing ability to step up to the challenges currently faced by the global environment and deliver world-class digital strategic objectives that position the company for future growth,” said Juan Bianchi, CEO of Euronet’s Money Transfer Segment, in a statement announcing the partnership. “More than doubling our reach in Malaysia and bringing increased brand visibility and trust to individuals, SMEs, banks and other retailers, this new alliance is further proof of the strength of our purpose-built postal strategy and the accelerated growth it’s delivering for us in the region through the rapid expansion of our digital capabilities.”
For Pos Malaysia, the partnership with Ria Money Transfer is another step forward in its transformation efforts to modernize the company’s retail segment through digitalisation while optimizing and enhancing the customer experience during over-the-counter services.
“Ria Money Transfer helps us to simplify and enhance the efficiency of international remittance service while providing additional value to our customers,” said Mohamed Rozaidi Md Sharif, CEO of Postal Services. “Ria’s money transfer platform offers good accessibility to customers via Pos Malaysia’s network of touchpoints and post offices in Malaysia.”
About Ria Money Transfer
Ria Money Transfer, a subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), delivers innovative financial services including fast, secure, and affordable global money transfers. With the second most extensive cash settlement network and the largest direct bank deposit network in the world, Ria gets money to where it matters.
Ria’s integration into Euronet Worldwide’s REV Payments Cloud provides a gateway to a suite of state-of-the-art fintech products and services, advancing the company to the forefront of our industry. Bridging the gap between digital and physical transactions, our omnichannel products and services, together with our rapidly expanding alternative global payout capabilities, provide unprecedented consumer choice; these include agents and partners, real-time payments, home delivery, mobile wallets, and cardless ATM payout (exclusively with Ria).
Our global infrastructure facilitates financial access to customers and partners alike, promoting economic growth around the world by opening new market opportunities. At Ria, we open ways for a better everyday life.
About the Pos Malaysia Group
The Pos Malaysia Group is a dynamic postal (mail, retail, courier, and international), logistics, aviation, financial and supply chain solutions provider with the largest delivery and touchpoint network in Malaysia, offering an extensive retail network experience through its core business segments. With a track record of over 200 years, the Group connects the nation with over 200 postal operators globally and extended its capability to support South East Asia’s rapidly expanding cross-border eCommerce businesses. For information on the Pos Malaysia Group, visit www.pos.com.my.
CONTACT: Media Contact: Aura Martínez Schifflers comms@riafinancial.com