Ria Money Transfer confirms new partnership agreement


Lucy Ingham
Lucy Ingham
Head of Content
Lucy is Head of Content at FXC Intelligence, overseeing all content and taking deep dives into the trends and data driving changes in payments. Before joining FXC Intelligence, Lucy worked as a… Read more
  • Ria Money Transfer, which is one of the world’s leading online money transfer firms, has confirmed that it will partner with the proximity banking company Mooney to extend its reach in the Italian market.
  • This means that it will now be able to access almost 50,000 point-of-sale destinations across Italy to boost its customer base – a development that could see Ria increase its market share by around 20 million people.
  • Spokespeople for both of the firms said that they were pleased about the new move – with a spokesperson for Mooney saying that the move will cut down on the time taken for global transfers to take place.

Leading online money transfer services company Ria has announced that it will extend its distribution network following a new collaboration.

The firm said that it will work alongside Mooney, which is one of Italy’s leading ‘proximity banking’ companies.

The move will see Ria give a boost to its offer of simple, easy-to-use and good-value international money transfers, according to press reports.

It will now be able to tap into the 45,000 or so point-of-sale locations in the Mooney network across Italy as part of a plan to acquire new customers and build long-term partnerships.

In total, it will be able to access a market of around 20 million customers – who are between them placing hundreds of millions of transactions.

It represents a new milestone for Ria, which has a growth plan based on partnerships.

The move will see Ria’s services get built into the Mooney service.

In a statement, a senior figure at Euronet – which owns Ria – said that the company was glad to have found a partner that it described as “perfect”.

Juan Bianchi, who is the chief executive officer of Euronet’s Money Transfer Segment, said that the company was now able to access markets across Italy.

“Through Mooney, we have found the perfect partner to extend Ria’s customer reach to potentially every corner of Italy and make our fast, secure and competitive international payments simpler and more accessible for millions of customers,” he said.

“The unifying vision of this collaboration is to improve the customer experience and provide excellence in the payments landscape.”

On Mooney’s part, the general manager for Commercial & Banking Services, Salvatore Borgese, said that there was a strong financial inclusion aspect to the development.

“We are pleased to make our technological platform and our network of affiliated points of sale available to Ria Money Transfer, which provides a tool of financial inclusion to a broader global community,” he said.

“This partnership enables money transfer services for customers from one side of the world to the other shortening any time and distance between them.”

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