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Euronet's (EEFT) Unit Ties Up to Expand Reach in Romania
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Euronet Worldwide, Inc.’s (EEFT - Free Report) subsidiary Ria Money Transfer recently inked a deal with Compania Nationala Posta Romana S.A., Romania’s national postal service operator, to establish its footprint. This move is in line with its strategy to penetrate varied regions via postal partners. The deal will allow customers to send and receive money in Romanian Lei and euros in a safe and seamless manner.
This addition of 1,200 Posta Romana post offices with a potential of more than 5,500 points under their coverage will almost double Ria Money’s current distribution network in the territory. This deal is aimed at providing convenient transaction options to the local communities. Notably, Ria Money, the second largest money transfer operator in the country will be able to expand in the area substantially. Ria Money’s network of postal tie-ups provides plenty of choices and financial inclusion across the global payments scenario, thus offering enriched customer services. Customers will benefit from fast, safe and affordable fund transfers. Further, the scope of the remittance market is wide, which allows Ria Money’s partners to make the most of it.
Romania with one of the largest diaspora in Europe reflects an important strategic deal for Ria Money. This deal once again boosts Ria Money’s already proven postal service leadership.
The collaboration solidifies Ria Money’s position as the leading money transfer partner for postal organizations across the globe. In fact, the unit is consistently partnering with post offices around the world.
A host of activities bodes well for this business line. As a matter of fact, Ria Money is massively contributing to strengthen the Money Transfer segment. Last week, it tied up with Pos Indonesia to offer feasible cash payouts across the country.
Also, Ria Money entered into a strategic partnership with the global cross-border payment provider Thunes to allow customers worldwide to send money directly to mobile wallets and bank accounts in the key emerging markets.
In addition, Ria Money joined forces with the United States’ leading grocery market retailer Kroger in October, which enabled customers to make money transfers across the country and the rest of the world.
Riding on the above-mentioned initiatives to boost its global presence, Ria Money boasts a strong worldwide network of enhanced financial services. Coupled with higher adoption of digital transactions, the global remittance space augurs well for Euronet in the long haul.
Other stocks in the same space including Synchrony Financial (SYF - Free Report) , Globe Life Inc. (GL - Free Report) and American Express Company (AXP - Free Report) have also rallied 40%, 23.3% and 17.1%, respectively, in the same time frame. All three stocks carry the same Zacks Rank as Euronet at present.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Euronet's (EEFT) Unit Ties Up to Expand Reach in Romania
Euronet Worldwide, Inc.’s (EEFT - Free Report) subsidiary Ria Money Transfer recently inked a deal with Compania Nationala Posta Romana S.A., Romania’s national postal service operator, to establish its footprint. This move is in line with its strategy to penetrate varied regions via postal partners. The deal will allow customers to send and receive money in Romanian Lei and euros in a safe and seamless manner.
This addition of 1,200 Posta Romana post offices with a potential of more than 5,500 points under their coverage will almost double Ria Money’s current distribution network in the territory. This deal is aimed at providing convenient transaction options to the local communities. Notably, Ria Money, the second largest money transfer operator in the country will be able to expand in the area substantially. Ria Money’s network of postal tie-ups provides plenty of choices and financial inclusion across the global payments scenario, thus offering enriched customer services. Customers will benefit from fast, safe and affordable fund transfers. Further, the scope of the remittance market is wide, which allows Ria Money’s partners to make the most of it.
Romania with one of the largest diaspora in Europe reflects an important strategic deal for Ria Money. This deal once again boosts Ria Money’s already proven postal service leadership.
The collaboration solidifies Ria Money’s position as the leading money transfer partner for postal organizations across the globe. In fact, the unit is consistently partnering with post offices around the world.
A host of activities bodes well for this business line. As a matter of fact, Ria Money is massively contributing to strengthen the Money Transfer segment. Last week, it tied up with Pos Indonesia to offer feasible cash payouts across the country.
Also, Ria Money entered into a strategic partnership with the global cross-border payment provider Thunes to allow customers worldwide to send money directly to mobile wallets and bank accounts in the key emerging markets.
In addition, Ria Money joined forces with the United States’ leading grocery market retailer Kroger in October, which enabled customers to make money transfers across the country and the rest of the world.
Riding on the above-mentioned initiatives to boost its global presence, Ria Money boasts a strong worldwide network of enhanced financial services.
Coupled with higher adoption of digital transactions, the global remittance space augurs well for Euronet in the long haul.
Zacks Rank & Price Performance of Peers
Shares of Euronet, which currently carries a Zacks Rank #3 (Hold), have gained 40.7% in six months’ time against the industry’s decline of 10%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other stocks in the same space including Synchrony Financial (SYF - Free Report) , Globe Life Inc. (GL - Free Report) and American Express Company (AXP - Free Report) have also rallied 40%, 23.3% and 17.1%, respectively, in the same time frame. All three stocks carry the same Zacks Rank as Euronet at present.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>