December 21 (SeeNews) - State-controlled Romanian Post said on Monday that it has signed a partnership agreement with Euronet's Ria Money Transfer to offer international money transfer services.
Under the agreement, customers will be able to transfer funds from over 1,200 postal offices across Romania, Posta Romana said in a press release.
"Our partnership with Ria Money Transfer, a world-renowned brand, is a confirmation that we will be able to bring more financial transfer services to a country like Romania, which has one
one of the most numerous diasporas in Europe," Posta Romana general director Horia Grigorescu said.
According to Posta Romana, Ria operates from over 389,000 locations in 161 countries.
"Romania is an important strategic corridor for Ria, so we are excited by the huge potential of this new partnership with the Romanian Post and by the many opportunities it offers us to expand our proven experience in postal services," Euronet Money Transfer Segment CEO Juan Bianchi said.
Ria Money Transfer is a subsidiary of U.S. headquartered global provider of electronic payment services Euronet Worldwide, Inc. which specializes in money remittances. Ria initiates transfers through a network of agents and company-owned stores located throughout North America, Latin America, Europe, Asia-Pacific, Africa, and online. Wikipedia
Posta Romana has the largest distribution network in Romania, employing 24,000 people at 5,500 units. Over 19 million people benefit from its services and more than 7.5 million addresses are covered by the company's own postal network.
The Romanian state owns 93.52% of Posta Romana, with the remainder held by local property restitution fund Fondul Proprietatea.