Monterrey, Nuevo León – Ria Money Transfer, a leading money transfer company and subsidiary of Euronet Worldwide Inc, and OXXO, the largest chain of convenience stores in Latin America, have announced a strategic partnership.
The agreement enables customers from all over Mexico to receive money at great exchange rates through Ria’s network of approximately 402,000 locations in more than 150 countries, including the United States and Canada, at any OXXO location.
Customers in Mexico will be able to receive up to $100 USD per transaction and withdraw in cash up to $2,500 Mexican pesos at any of OXXO’s 19,000 stores in the country. This service is available from 6 am to 10 pm every day of the year, bringing greater convenience to customers.
“At Ria, we are very proud to be part of the OXXO family and happy to be able to strengthen and extend our services in Mexico,” said Rosario Escarpita, the Managing Director of Ria Money Transfer.
“It is vital for us to continue leading the way so that our customers can support their loved ones through our extensive network. Thanks to this alliance, we will provide better access to sending money and make this connection easier between family and friends.”
According to the World Bank, Mexico has the third highest number of inbound remittances of any country in the world, after India and China respectively. For this reason, OXXO wanted to team with a global money transfer leader like Ria, which is known for its customer-centric culture and advantageous, transparent, fees.
Ria understands how crucial the role of remittances is and how important it is for customers to support their loved ones. The UN established that the average cost of remittance services globally should be lowered to 3% by 2030, and Ria is leading the industry’s efforts towards reaching that global average cost and keeping it below that mark.
“At OXXO, we seek to innovate our financial services to meet our customers’ needs, and we aim to simplify their lives by executing their day-to-day transactions in one place,” said Santiago Rivera, Director of Financial and Electronic Services at OXXO. “Thanks to our alliance with Ria, we are strengthening our service network by offering more money transfer options, thus contributing to the economic and social development of Mexico.”
About Ria Money Transfer
Ria, a subsidiary of Euronet Worldwide, Inc. (EEFT), is a global leader in the money transfer industry. The company is steadfast in its commitment to its clients and their communities, offering fast, secure, and affordable money transfers through a network of over 402,000 locations spanning across 158 countries and online at riamoneytransfer.com.
About FEMSA Comercio
FEMSA Comercio is a company that generates economic and social value in the countries where it has a presence. It operates various chains of small-format businesses in Mexico, Colombia, Chile, Peru and Ecuador, including the OXXO stores, YZA, Farmacon, Moderna, Cruz Verde, Fybeca and SanaSana pharmacies, and Maicao beauty shops. It also operates service stations under the OXXO GAS brand. Through its business units, FEMSA Comercio employs more than 180,000 members of staff and serves more than 13 million consumers every day.
Source: Globe Newswire