Ria Money Transfer is significantly expanding its presence in India through partnerships with three leading cash remittance payout agents with broad reach within India, the world’s largest recipient of migrant remittances.
Ria has signed agreements with Weitzmann Forex Limited, Paul Merchants Limited and Transcorp International Limited, which will expand the money-transfer company’s reach by tens of thousands of agents in India, according to a Monday press release.
To support the expansion, Ria plans to upgrade its network and market its brand to be “ubiquitous,” said Juan Bianchi, Ria’s CEO and president, in the release.
In the U.S. and Spain, consumers already can make direct cash transfers to India online, Ria noted.
Ria also said it’s expanding its operations in the Middle East through its office in Dubai, which will serve as its regional headquarters there.
Ria is a subsidiary of Kansas-based Euronet Worldwide, which earlier this year made a bid to purchase MoneyGram, which China-based Ant Financial subsequently topped. The Ant-MoneyGram transaction is undergoing review by U.S. regulators.