IPPB and Ria Money Transfer Partner to Revolutionize Remittance Services in Rural India

GG News Bureau
New Delhi, 20th June. India Post Payments Bank (IPPB) has announced a strategic collaboration with Ria Money Transfer to enhance international inward money transfer services across rural India. This partnership aims to provide secure, efficient, and convenient financial services at doorstep accessibility for customers in remote areas.

IPPB, leveraging its extensive postal network and trusted reputation, will initially roll out these services across 25,000 Post Office locations, expanding to over 100,000 locations in the future. This initiative addresses the challenges faced by rural populations in accessing remittances, minimizing travel expenses and security risks associated with cash handling.

Shri R Viswesvaran, MD & CEO of IPPB, emphasized the importance of this partnership in supporting rural communities, enhancing financial inclusion, and bridging global connections seamlessly. The collaboration integrates advanced technology for streamlined processes, including biometric authentication and digital transaction confirmations, ensuring compliance and security.

Ria Money Transfer’s CEO, Mr. Shawn Fielder, highlighted the significance of these services in empowering rural economies and promoting secure financial transactions. Mr. Ignacio Reid, Ria’s COO, expressed confidence in the partnership’s ability to drive positive impact and innovation across India’s remittance sector.

About India Post Payments Bank (IPPB):
Established under the Department of Posts, Ministry of Communication, IPPB aims to provide accessible and affordable banking services, particularly to the unbanked and underbanked populations in India. With a robust network of over 1,61,000 Post Offices nationwide, IPPB focuses on digital and paperless banking solutions.

About Ria Money Transfer:
Ria, a business segment of Euronet Worldwide, Inc. (NASDAQ: EEFT), specializes in fast, secure, and cost-effective global money transfers. Utilizing an extensive cash settlement and direct bank deposit network, Ria enhances financial accessibility worldwide, bridging digital and physical transactions seamlessly.