Business
Ria Money Transfer Advances Major Digital Expansion in Europe with Lithuanian License
Ria will now provide its digital services across Europe under the Lithuanian license. BUENA PARK, Calif., Dec. 03, 2020 (GLOBE NEWSWIRE) -- Ria Money
About this update from Euronet Worldwide, Inc.
[{"type":"text","content":"Ria will now provide its digital services across Europe under the Lithuanian license. BUENA PARK, Calif., Dec. 03, 2020 (GLOBE NEWSWIRE) -- Ria Money Transfer, a global leader in the cross-border money transfer industry and subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), has officially obtained a Payment Institution license in Lithuania to continue expanding its digital footprint in Europe. By choosing to work with the Bank of Lithuania, the country’s regulator, Ria can now passport its digital license to other European countries continuing its operation in the European Union (EU) with Lithuania acting as a digital hub in the region. Recognized as one of the most dynamic fintech hubs in the world and the second most important in Europe, Lithuania proved to be the perfect world class fintech ecosystem for Ria to continue promoting its wide breath of capabilities and run a successful digital operation. At the same time, with Brexit’s transition period nearing its due date, Ria is protecting its customers from any service impact or disruption caused by this event. Ria delivers innovative financial services including fast, secure, and affordable global money transfers. Ria operates the world’s second largest network with more than 447,000 locations in 165 countries and the largest bank account deposit network, encompassing 120 countries and 3.6 billion bank accounts and growing at an average rate of 23% pa. Its home delivery coverage is the industry’s largest and Ria is the only company offering cardless ATM payout service. Its digital payout capabilities are rapidly expanding with mobile wallet holders approaching 2MM. The leading money transfer company plans to establish an office in Vilnius, Lithuania, to have local support in different areas of their digital business, which will play a significant role in the development of digital solutions and its digital expansion across the EU. \"We are delighted to have found in Lithuania the perfect fintech ecosystem to continue promoting our digital operations in Europe,” shared Eduardo Gonzalez Cristos, Director of Digital Expansion at Ria. “We’re expanding our digital footprint and solutions adding capabilities related to funding methods, mobile wallets, and personalization, among other financial services.\" \"An increasing number of experienced industry leaders, such as Ria, choo...