Global payments provider Remitly increases cash pick-up points

| |

Daniel Webber
Daniel Webber
Founder & CEO
Daniel is Founder and CEO at FXcompared and has numerous years of experience in the international finance world, especially within the media, technology and property sectors. Daniel is passionate… Read more
  • North American firm Remitly set to boost its network
  • They will partner with Ria to deliver new locations in over 40 countries
  • “Our partnership with Ria underscores our passion to transform the lives of our customers and their families”, says Remitly’s founder

 

Major North American remittance services provider Remitly has announced a new partnership designed to help those looking to send cash from place to place.

The firm, which is the biggest independent international money transfers firm on the continent, has partnered with Ria to increase the number of locations on offer.

Thanks to the partnership, there are now well over 70,000 additional locations in 44 countries at which Remitly cash transfers can be collected.

Ria, which is owned by Euronet, is a remittance firm which is responsible for running the second-biggest money transfer network on the globe.

While digital transfers will still be possible using the Remitly website or mobile app, the crucial element of the service is that the value can be collected in cash – which is a lifeline for economies in which cash is still highly important.

According to Remitly’s founder, the new partnership will “transform the lives” of customers.

“Our partnership with Ria underscores our passion to transform the lives of our customers and their families”, said Matt Oppenheimer, who is also the firm’s CEO.

“This collaboration will allow customers to send money from Remitly’s digital platform to be picked up in cash in nations where cash is dominant, whether they’re in a major metropolitan city or a rural village. We’re thrilled to leverage Ria’s vast cash pick-up network to offer our customers a better, more convenient service by giving them more options.”

For Ria’s owner Euronet, Juan Bianchi, CEO of the firm’s money transfer segment, said that the partnership would mean Remitly’s offer would be “enhance[d]”.

“Ria is a leading global money transfer company with an unflinching resolve to keep setting a higher standard in remittance delivery for customers all over the world”, he said.

“Ria’s partnership with Remitly is a testament to Euronet’s global asset capabilities, and how Euronet’s global assets can enhance other companies’ value propositions, accelerating their speed to market in our highly dynamic industry.”

Remitly’s network, which covers regions as diverse as South America and Central Europe, has an annualised volume of more than $6 billion US dollars.

It has a variety of investment firms behind it, including Silicon Valley Bank and QED Investors.

Discover more about the state of the international money transfer scene over at our magazine.

Barely a day goes by without one organisation or another announcing a new product or offer. However, these are increasingly entirely digital in nature – meaning that cash-based remittances can take a back seat. With the amount of cash in circulation to GDP actually rising by some measures, this development will be a welcome relief to those economies and individuals who were beginning to worry that their preferred forms of exchange were being undervalued by the remittance industry.


Most Read

Use Our Currency Comparison Tool

Select country...

Select country...

Send

Editor's Choice

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.