Business
Ria Money Transfer Furthers its Expansion in Mexico by Teaming with OXXO
Customers will now benefit from quick and safe cash pick-up services at any of OXXO’s 19,000 stores in Mexico MONTERREY, Nuevo León, July 13, 2020 (GLOBE
About this update from Euronet Worldwide, Inc.
[{"type":"text","content":"Customers will now benefit from quick and safe cash pick-up services at any of OXXO’s 19,000 stores in Mexico\nMONTERREY, Nuevo León, July 13, 2020 (GLOBE NEWSWIRE) -- Ria Money Transfer, a leading money transfer company and subsidiary of Euronet Worldwide Inc (NASDAQ:EEFT), and OXXO, the largest chain of convenience stores in Latin America, announced today a strategic partnership. The agreement enables customers from all over Mexico to receive money at great exchange rates through Ria’s network of approximately 402,000 locations in more than 150 countries, including the United States and Canada, at any OXXO location.\n Customers in Mexico will be able to receive up to $100 USD per transaction and withdraw in cash up to $2,500 Mexican pesos at any of OXXO’s 19,000 stores in the country. This service is available from 6 am to 10 pm every day of the year, bringing greater convenience to customers. \"At Ria, we are proud to be part of the OXXO family and to be able to strengthen and extend our services in Mexico,” said Rosario Escarpita, Managing Director of Ria Money Transfer. “It is vital for us to continue leading the way so that our customers can support their loved ones through our extensive network. Thanks to this alliance, we will provide better access to sending money and make this connection easier between family and friends.” According to the World Bank, Mexico has the third highest number of inbound remittances of any country in the world after India and China respectively. For this reason, OXXO wanted to team with a global money transfer leader like Ria known for its customer-centric culture and advantageous, transparent fees. Ria understands how crucial the role of remittances is and how important it is for customers to support their loved ones. The UN established that the average cost of remittance services globally should be lowered to 3% by 2030, and Ria is leading the industry’s efforts towards reaching that global average cost and keeping it below that mark. “At OXXO, we seek to innovate our financial services to meet our customers’ needs, and we aim to simplify their lives by executing their day-to-day transactions in one place,” said Santiago Rivera, Director of Financial and Electronic Services at OXXO. “Thanks to our alliance with Ria, we are strengthening our service network by offering more money transfer op...