Ria Money Transfer, a subsidiary of Euronet Worldwide, has joined RippleNet to enable instant, blockchain-powered global payments. With customers in over 155 countries, more than 377,000 locations worldwide, and $40 billion in money transfer volume per year, Ria is one of the largest payment service providers in the world. By joining RippleNet’s network of 200+ financial institutions worldwide, Ria can settle transactions with increased speed, transparency and efficiency and deliver a better experience to their customers.
More specifically, Ripple’s technology will enable new end-to-end tracking, better visibility into fees, estimated delivery time and status, complementing Ria’s transparency and reliability for the end user.
“At Ria we have developed the second largest Money Transfer network in the world along with a best-in-class compliance program all connected by our proprietary technology,” added Juan Bianchi, CEO of Euronet’s Money Transfer Segment. “Ria’s integration with Ripple serves to build rails for an innovative payment infrastructure that seeks to provide easier access to potential partners, while delivering faster and cleaner payments to its users. Time is a vital currency for our customers and partners, so we always keep it at the center of our innovation efforts.”
Additionally, through Euronet’s state of the art Digital Integrated Payments Cloud, RippleNet customers will gain new access to Ria’s global fintech ecosystem, enabling cross-border payments both ways.
“This partnership will enable Ripple to expand the reach and solutions for our partners and the overall banking ecosystem. Ria is one of the top money transfer players in the industry, with the second largest network in the world and is known for its world-class service. By joining RippleNet, Ria not only enhances our value chain for our partners but will continue to improve remittance times and costs for both their customer and enterprise clients,” added Marcus Treacher, SVP of Customer Success, Ripple.
Not only does this new partnership with Ria expand the global footprint of RippleNet, it is also enabling faster, lower-cost payments to millions around the world.