- The firms will work alongside Austrian Post’s new banking subsidiary “bank99”
- The new service will see bank99 customers able to use Ria’s extension global network to send money to over a hundred nations across the globe
- “We look forward to working alongside bank99 to continue our resolve to offer customers more choices and greater convenience”, said Ria’s president and CEO
Blockchain-based payments service RippleNet has confirmed that it will work alongside a new partner based in Austria.
RippleNet is already working in partnership with Ria Money Transfer, and the new arrangement will see the two firms collaborate with a subsidiary of Austrian Post.
This subsidiary, called bank99, is an all-new financial services firm which is in the process of being built.
Now, the company’s customers will be able to send money home through the Ria network, which is global in scale.
Ria has nearly 400,000 sites in 160 nations.
It is expected that the new service will kick off on the first day of this April – but branch service won’t begin until May, and only some branches will participate.
Ria has been working with RippleNet since last year.
The advantage of RippleNet is that it can boost the speed of each online money transfer.
It can offer traditional financial institutions “on-demand liquidity” as well as a cryptocurrency of its own called XRP.
It works with a wide range of prestigious financial services institutions and is regarded as a firm with lots of potential.
According to the CEO of Austrian Post, Georg Pölzl, the partnership will enable bank99 to provide “a world-class service”.
“Fast, secure and convenient, that is what customers expect from a money transfer”, he said.
“With Ria Money Transfer we have found the ideal partner for our bank99 to offer our customers not only that right from the start, but also a world-class service”, he added.
For Ria’s part, President and CEO Juan Bianchi described the development as a “fantastic opportunity”.
“This partnership presents a fantastic opportunity to strengthen our presence in Austria, and most importantly to support the Austrian Post’s legacy of reducing distances and promoting equality”, he said.
“We look forward to working alongside bank99 to continue our resolve to offer customers more choices and greater convenience”, he added.
According to a press release from Euronet, which owns Ria, the move will increase choice for consumers.
“The partnership also opens an important new channel in Austria for Ria to offer its competitive pricing and FX rates to remittance customers while providing bank99 customers access to Ria’s ubiquitous global cash pickup network and industry leading account deposit network with more choice of currencies and delivery methods”, the release read.
Austrian Post already has a commitment to international money transfer, and it works in almost ten other European nations.
To learn more about what firms like these are up to in the online money transfer sector, why not check out our news pages?
