• Third largest money transfer company partners with Weizmann Forex Limited, Paul Merchants Limited and Transcorp International Limited
• Company to give away 1 kilogram in pure gold prizes for beneficiaries in India
  

Ria Money Transfer (“Ria”), the third largest money transfer company in the world and subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT) has partnered with three leading agents, Weizmann Forex Limited, Paul Merchants Limited and Transcorp International Limited, to expand its network and operations in India. During the next 12 months, Ria will upgrade its cash payout network by adding tens of thousands of high-quality retail and non-banking financial company (NBFC) locations.

Ria’s new principal agents are well-recognized in India and all have more than 15 years’ experience in the money transfer sector. Their expertise in the local market will add value to Ria’s robust and ubiquitous network, providing increased brand recognition across India, plus tremendous convenience and accessibility for beneficiaries to easily receive cash remittances.

Ria also announced the commencement of its global campaign - a new ‘gold standard’ money transfer service that offers beneficiaries in India the chance to win pure gold prizes. As a nod to Ria’s 30th Anniversary, beneficiaries who patronize Ria’s cash payout service in India will automatically be eligible to win one of 30 gold coins weighing 30 grams, or the bumper prize weighing 100 grams. The company will offer 1kg of gold prizes, between May 23 and July 31*, at any authorized payout location.

Speaking at the launch event, Mr. Juan Bianchi, CEO & President of Ria Money Transfer, said: "Ria is delighted to partner with Weizmann Forex, Paul Merchants Limited and Transcorp International, to provide the ‘gold standard’ in fast and reliable cash payout for customers across India - no matter where they reside."

“India is the top receiving market for migrant remittances, receiving $62.7 billion in 2016. Millions of households, predominantly rural, are largely dependent on these transfers for family maintenance, savings and investment. I’m confident that our service and combined networks will not only provide greater access for customers to receive remittances, but will also result in a successful partnership for years to come,” concluded Bianchi.

Mr. S Paul, Chairman and Managing Director of Paul Merchants Limited, added: We are tremendously excited to announce this partnership, which is going to be a defining moment for the remittance industry in India. With Paul Merchants Limited’s client base and Ria Money Transfers’ suite of services, we will be able to facilitate our consumers with streamlined financial operations and with unmatched global reach. We are a trusted partner and we are here to provide trustworthy services to the working Indians across the globe.

Mr. Karthikeyan Balasubramanian, Managing Director of Weizmann Forex Limited, added:
“Remittances have emerged as a leading alternative to conventional banking channels. By partnering with a global leader like Ria Money Transfer, we are confident we will address the rising demand for quick, reliable and efficient money transfer services while reaching a wider audience in India and globally.”

Mr. Ashok Kumar Agarwal, Director of Transcorp International Limited, said, “Remittances are playing an important role in shaping the socio-economic development of India and many other developing countries. We are delighted to partner with Ria Money Transfer, which will facilitate us to serve the large remittance dependent population spread out across India. This partnership will enable our consumers to transfer money in a fast and reliable fashion, thereby benefiting millions of people.”

In Dubai, UAE, Ria also announced its expansion in the Middle East, amplifying the quality of its network in the Gulf Cooperation Council (GCC) countries - one of the world’s top remittance sending regions - and India, the number one remittance receiving country in the world. Following the 2015 acquisition of leading Malaysian money transfer company, IME, Ria has also increased its footprint in South East Asia, adding almost 20,000 new locations to its network.

Ria has a strong network worldwide, including in the sending markets, where many Indians reside. In the US and Spain, customers can also make transfers to India online, at www.riamoneytransfer.com and www.riamoneytransfer.es and in the UK through Asda Money Transfer Powered by Ria.

In 2014, Ria secured a Money Transfer Operator Licence under the Money Transfer Service Scheme (MTSS) and was granted authorization by the Reserve Bank of India (RBI) to expand its network in India. Since then, the company - which is part of the money transfer segment of Euronet - has further expanded, and now offers services in 146 countries through approximately 321,000 locations. In 2016, the money transfer segment collectively processed 82.3 million transactions - which represents a 26% CAGR since 2010 - and facilitated $33 billion in transfers.

In addition to cash pick-up, Ria also offers bank deposit services which allow customers to transfer money to any bank account in India.

*Prizes will be awarded to winning beneficiaries in India. For full terms and conditions, visit the Legal section at www.riafinancial.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 321,000 global agents spanning 146 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.riafinancial.com and www.riamoneytransfer.com.

Weizmann Forex Limited - part of the INR 45 billion Weizmann Group, is a public limited company listed with Bombay Stock Exchange and National Stock Exchange since 2011. Weizmann Group has a diversified portfolio focused on Foreign Exchange, International & Domestic Money Transfer, Import and Export Payment Solutions, Tours & Travels, Textile Processing & Exports and Renewable Energy Generation. With its 30 years of Business expertise. A RBI certified Authorised Dealer - Category II, Weizmann Forex which has a strong network of 200+ branches, 54,000+ customer touch points across India and strong agent partnerships for its inward remittances business, has grown exponentially to become a leading player in the Foreign Exchange and Remittance market.

Transcorp International Limited is a public limited company listed with the Bombay Stock Exchange; paying yearly dividends to its shareholders for the last 17 years. The Reserve Bank of India has entrusted Transcorp with several licenses including MTSS to provide inward money remittances to the families of Indian migrants working abroad. In addition, Transcorp holds the coveted AD2 license which allows it to conduct foreign exchange services as well as outward remittance as per applicable guidelines. Recently, it has received the PPI license and has launched its Transcash digital wallet and soon launching pre-paid cards. Transcorp prides itself on its loyal network of over 7000 retail partners across the country and over 50 own branches. Transcorp works as a banking correspondent at the national level with SBI - India’s largest and most trusted bank. In addition to financial services such as insurance and investments, Transcorp has subsidiaries including Ritco Travels, a holistic travel agency. It has a group company, Transcorp Enterprises Limited which is a RBI licensed money changer and has a venture in Malaysia for remittance and forex.

Paul Merchants Limited (PML), an ISO 9001:2008 certified Company for its quality procedures & processes, is the flagship company of the “PAUL GROUP OF COMPANIES." The group is a diversified conglomerate having prominent interests in International Money Transfer, Foreign Exchange, Finance, Satellite TV, and Tours & Travels. Under the aegis of specific RBI Licenses, PML offers International Money Transfer and Forex Services from its widespread network consisting of own offices and Franchisee locations of more than 22,000 across India. PML is amongst leading players in Forex as RBI Licensed Authorized Dealer II. Further, PML is fast emerging name in Tours & Travels having IATA accreditation besides having affiliation with Indian Ministry of Tourism.