Ria Money Transfer has opened its first store in Singapore, as part of its Asia Pacific expansion strategy.
The subsidiary of Euronet Worldwide opened its location in Kerbau Road 8 in the Little India area. Customers can visit the store to send cross-border remittances through Ria’s network of more than 397,000 locations across 160 countries.
Till date, Ria Money Transfer had 30 agent locations in Singapore.
Ria managing director of Asia Pacific region Espen Kristensen said: “We are proud to announce the opening of our store in Little India as part of our Singapore expansion.
“Singapore is a land of great opportunity. By having a solid presence in the country, we can better serve our customers and further support the role of remittances in the region.”
Now, the company plans to open additional retail stores and agent locations in Singapore.
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By GlobalDataIn 2017, total remittances sent from Singapore amounted to $6.1bn, according to the World Bank.
Earlier this month, MoneyGram International launched its website in Singapore to support digital expansion in the region.
Ria operates through a network of agents and company-owned stores to offer remittance services.
Recently, it partnered with Austrian Post’s banking entity bank99. It will enable consumers send cross-border remittances from the bank’s 400 post office branches and 300 partner locations.
Services will be available in selected branches by 4 May 2020.
