Ria Money Transfer, a global leader in the cross-border money transfer industry and a subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), and Pos Malaysia Berhad (Pos Malaysia), a postal and courier service operator with the largest delivery and touchpoint network in Malaysia, announced today a new cash collection partnership that delivers convenient international money transfer and payments services to customers at all Pos Malaysia outlets nationwide.
Through this partnership, customers will now be able to initiate their transactions via Ria’s leading app and complete the process by paying in cash at any of Pos Malaysia’s outlets without the need to complete physical forms, allowing for a swift transaction at the counter.
This provides customers with an additional choice and payment option for supporting the migrant community in Malaysia and helps make sending money home to their families through the international money transfer process easier, convenient and economical. Furthermore, the facilitation of digital payments to Ria’s customers encourages financial inclusion, allowing customers to view and lock competitive rates in real-time from home in addition to the time savings at the counter.
Malaysia is one of the top sending countries to Indonesia, which aligns with Ria’s recently announced partnership with Pos Indonesia. The partnership also further represents Ria’s commitment to communities in the region and the support it offers its partnering organizations through the promotion of convenient transfers and unlocking of value-added opportunities.
“Launching mobile staging capabilities delivers a fast, secure and competitive service for a streamlined user experience. It also demonstrates our continuing ability to step up to the challenges currently faced by the global environment and deliver world-class digital strategic objectives that position the company for future growth,” said Juan Bianchi, CEO of Euronet’s Money Transfer Segment, in a statement announcing the partnership.
“More than doubling our reach in Malaysia and bringing increased brand visibility and trust to individuals, SMEs, banks and other retailers, this new alliance is further proof of the strength of our purpose-built postal strategy and the accelerated growth it’s delivering for us in the region through the rapid expansion of our digital capabilities.”
For Pos Malaysia, the partnership with Ria Money Transfer is another step forward in its transformation efforts to modernize the company’s retail segment through digitalisation while optimizing and enhancing the customer experience during over-the-counter services.
“Ria Money Transfer helps us to simplify and enhance the efficiency of international remittance service while providing additional value to our customers,” said Mohamed Rozaidi Md Sharif, CEO of Postal Services.
“Ria’s money transfer platform offers good accessibility to customers via Pos Malaysia’s network of touchpoints and post offices in Malaysia,” he said.
The partnership includes a cash collection agreement with mobile staging capabilities in over 1,000 Pos Malaysia outlets effectively more than doubles Ria’s previous reach in Malaysia.
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