International remittances through Paytm |
Ria Money Transfer, a business segment of Euronet Worldwide and global leader in the cross-border money transfer industry, and India`s Paytm Payments Bank, have announced a partnership to enable customers to send money in real time - virtually instantly - through Ria`s extensive network to Paytm`s prominent mobile wallet. Paytm has become India`s first platform to accept international remittances directly into a digital wallet, and Ria becomes the first money transfer company to connect with Paytm`s approximately 333 million wallet users1 significantly increasing its customer reach in the region and creating a new delivery channel for the Indian diaspora to send money back home. Customers abroad can now conveniently transfer money to fully KYC`d Paytm wallet users in India. This alliance builds on Ria`s digital expansion strategy as it continues to broaden its services to mobile wallets globally, increasing penetration and customer reach across emerging markets. The mobile wallet industry processes around US$2 billion a day, with experts estimating that US$1 trillion will be transacted annually by 2023.
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