Safaricom has partnered with Ria Money Transfer, a subsidiary of Euronet Worldwide, to enable more than 26 million M-PESA customers to conveniently receive international money transfers from over 20 countries across the world.
Ria has the second-largest money transfer network in the world with 389,000 locations across 161 countries. Thanks to Ria’s seamless technology, customers can enjoy an omnichannel experience when receiving funds, a convenient service that will now be available to all M-PESA customers.
Offering more choices
“We are excited to partner with Ria Money Transfer to enable M-PESA customers to conveniently receive money transfers from even more locations around the world,” said Mr Michael Joseph, CEO Safaricom.
“This partnership will further increase the value we provide to our customers by offering them more choice and the power to receive transfers directly into their M-PESA accounts.”
Juan Bianchi, CEO of Euronet’s Money Transfer Segment, said it sees a great partner in M-PESA, which is committed to providing an efficient and customer-centric money transfer service. “We are confident in the success of this partnership and the enormous benefits it will bring our customers,” Bianchi said.
Customers sending money to M-PESA through Ria will be informed of the applicable exchange rate and transaction fee before sending. Transfers sent through Ria will reflect immediately in a customer’s M-PESA balance, saving recipients the trouble of currency conversions or having to visit an outlet to receive money sent to them.
Some of Ria’s top markets include the United States of America, Canada, the United Kingdom, Australia, Spain, in addition to majority of European countries.
M-PESA has been growing as a preferred remittance channel especially by Kenyans in the diaspora looking to send money to their families back home. According to Central Bank of Kenya statistics, more than 40% of international transfers are now received through the service.