US remittance provider Ria Money Transfer enters into strategic alliance with Instant Cash
Instant Cash Global Money Transfer, a member of the Emirates Post Group, has recently entered into a strategic alliance with Ria Money Transfer, a wholly owned subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT) that will give the United States-based remittance provider access to the growing pay out network of Instant Cash.
Instant Cash provides an electronic money transfer system. Developed for the masses across the globe, Instant Cash charges competitive fees for remittances and is backed by the latest technology for reliability. The product is monitored and serviced by dedicated customer service professionals to deliver a fast and reliable service.
Instant Cash is a wholly owned subsidiary of the Emirates Post Group, and its services are available in 60 countries through more than 150,000 locations. The move comes a few months after Instant Cash, which enables immediate remittance payment to the beneficiaries across its growing global network, had tied up with India Post and Philippines Post amongst others to bring thousands of locations within its growing network of payout locations.
The agreement gives Ria Money Transfer – the third largest global money transfer service provider – access to Instant Cash’s network. It also gives Instant Cash and its agent’s direct access to the global network of Ria Money Transfer of more than 219,000 locations, including the European and US markets.
“The deal is part of our ambitious expansion programme that will enable us to serve a larger number of the global population and help us spread out across the globe,” Sultan Bin Kharsam, Director of Instant Cash, said.
Mohit Davar, Acting CEO of Instant Cash, said, “With this strategic partnership, Instant Cash will be able to reach customers in the European and North American markets while connecting them to the rest of our growing network. The USA is the largest money transfer market in the world and with Ria’s extensive network in the US and Europe, our postal partners and others will benefit from increased volume from these markets.”
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