RIA Financial Services, a wholly owned subsidiary of Euronet Worldwide, has launched money transfer services from four new sending countries in Europe. The new countries are Netherlands, Finland, Luxembourg and Cyprus.
RIA said it has signed money transfer agents the newly added countries to launch its money transfer service in those countries.
Additionally, RIA has been able to sign money transfer agents in Germany and France for the first time under its European payment institution license. Previously, RIA only maintained wholly owned stores in France and Germany under local money transfer licenses in each country.
Michael Brown, chairman and CEO of Euronet Worldwide, said: “Entering and expanding in new markets and signing, training and rolling out agents who are from the ethnic communities of our consumers to provide RIA money transfer services at numerous convenient locations is critical to our success and we just opened four new important ethnic-rich markets in which to execute that strategy.
“It was not inexpensive or easy for RIA to obtain its payment institution license or to passport that license to France, Germany, the Netherlands, Finland, Luxembourg and Cyprus. However, this process does allow RIA to substantially expand the distribution of its services to many more convenient locations closer to where our consumers work and live.”