HayPost, Ria Money Transfer team up for remittance services

PanARMENIAN.Net - HayPost, the national postal operator of the Republic of Armenia, and Ria Money Transfer (Ria), the third largest money transfer company in the world, have announced a partnership to provide inbound and outbound money transfer services throughout Armenia, HayPost said Monday, January 11.

The new agreement will allow HayPost customers to receive cash remittances in euro (EUR) and U.S. dollars (USD) at any of HayPost’s 600+ online post offices in Armenia. In addition to providing a secure and economical service, Ria’s rapid transfer system enables HayPost customers to receive transfers from family and friends abroad within minutes. HayPost customers can also send money through Ria’s global network which spans 147 countries and 287,000 locations.

HayPost has made strategic moves in the United States recently, where on July 21, 2015 the company opened its first international branch in Glendale, California. As well as providing courier and shipping services, HayPost recently launched ShopInAmerica which grants Armenian residents open and easy access to goods from the U.S. market.

The new location, which serves as a bridge between Armenia and the USA, now also offers HayPost’s U.S.-based customers the ability to send cash to their loved ones in Armenia using Ria Money Transfer. Customers can also send money online at www.riamoneytransfer.com with payout at any authorised HayPost post office in Armenia.

General Director of HayPost Trust Management BV Juan Pablo Gechidjian said: “The cooperation between HayPost and Ria Money Transfer is a great opportunity, enabling customers to send and receive cash remittances to and from different parts of the world. One of our missions is to provide quality, fast and affordable services to our customers. We are confident that our partnership with Ria Money Transfer fits in this mission and are hopeful our work together will yield tangible results in the near future.”

Ria’s President and CEO, Juan Bianchi added, “The launch of our new money transfer service with HayPost is especially timely given their recent expansion to the United States and we’re delighted to partner with Armenia’s National Postal Operator. Part of Ria’s global vision is to provide greater access to affordable remittances worldwide and post offices are an excellent channel to facilitate these flows. HayPost also has many strategically located branches in remote locations and we’re looking forward to better meet the needs of Armenians living abroad by giving them a secure and affordable alternative for sending money home to their families.”

In 2014, the World Bank estimated that Armenia received $2.2 billion in remittances and that remittances accounted for 21% of the country’s GDP in 2013. This data places Armenia in the top 10 countries most dependent on remittances globally.

"HayPost" CJSC is the national postal operator of Armenia which provides postal, financial and retail services. HayPost currently operates through 875 of its postal offices across Armenia, from urban to the most remote rural areas.

Ria is a global leader in money remittances and is a recognized benchmark in both quality and service. Ria implements transfers through a network of agents and company-owned stores located throughout North America, Latin America, Europe and Asia-Pacific as well as online from the United States at www.riamoneytransfer.com.

Ria’s current global network spans 147 countries with services in over 287,000 locations. Ria is steadfast in its commitment to customers and remains ingrained within the communities in which they live.

Ria is a subsidiary of Euronet Worldwide, Inc. (Nasdaq: EEFT), a worldwide leader in processing secure electronic financial transactions. Through three business segments – Electronic Financial Transactions (EFT), epay Prepaid Products and Money Transfer – Euronet offers a diverse portfolio of electronic payment alternatives to customers in approximately 165 countries. In addition to global money transfer services, Euronet's product portfolio includes comprehensive ATM services, point-of-sale processing, card outsourcing services, prepaid mobile airtime, other prepaid content and mobile operator solutions.