SAN JOSE, Calif.–(BUSINESS WIRE)–Xoom, PayPal’s international money transfer service, today announced a partnership with Ria, a subsidiary of Euronet Worldwide and a global leader in money remittances, to offer Xoom customers cash pick-up service at more than 150,000 of Ria’s international network locations. Through this partnership, Xoom is significantly increasing its presence in Eastern Europe and Africa, so customers in the United States can now send money to 70% of countries around the world by simply going online or using a mobile phone.
“Partnering with Ria allows us to grow our global footprint and significantly expand our services in the African diaspora and across Eastern Europe, which is a tremendous landmark for Xoom,” said Julian King, Xoom’s Vice President and General Manager. “With this expansion, Xoom now offers service to over 130 countries globally, including many countries that have limited access to digital remittance services. These customers now have a fast, secure, reliable and convenient way to send money to loved ones around the world.”
“Ria has developed an extensive physical network and a best-in-class compliance program and cutting-edge technology,” added Juan Bianchi, President and CEO of Ria. “Ria’s partnership with Xoom is another great example of how Euronet’s core assets can help other fintech and payment companies enhance their value proposition and accelerate their speed to market in our fast-paced industry.”
Established in 2001 and acquired by PayPal in 2015, Xoom is a fast and secure way to send money, pay bills and reload phones for loved ones in more than 130 countries globally. These remittances serve as a lifeline for many people around the world and are used to pay for things like utility bills, healthcare, education costs and emergencies. By providing fast and secure payment options for customers to seamlessly send money across borders by going online or using a mobile device, PayPal and Xoom are helping to expand and improve the financial health of millions of people worldwide.
Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal (NASDAQ: PYPL) is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Our open digital payments platform gives PayPal’s 244 million active account holders the confidence to connect and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person. Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money, and offers choice and flexibility when sending payments, paying or getting paid. Available in more than 200 markets around the world, the PayPal platform, including Braintree, Venmo and Xoom, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies. For more information on PayPal, visit https://www.paypal.com/about. For PayPal financial information, visit https://investor.paypal-corp.com.
Ria, a subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), is a global leader in money remittances. Ria offers fast, secure, affordable money transfers through a network of approximately 355,000 global agents spanning 150 countries and online at www.riamoneytransfer.com. The company is steadfast in its commitment to its customers and remains ingrained within the communities in which they live. For more information visit www.corporate.riafinancial.com.
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