Ria Money Transfer Advances Major Digital Expansion in Europe with Lithuanian License

Dec 3, 2020
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Ria will now provide its digital services across Europe under the Lithuanian license.

Ria Money Transfer, a global leader in the cross-border money transfer industry and subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), has officially obtained a Payment Institution  license in Lithuania to continue expanding its digital footprint in Europe. By choosing to work with the Bank of Lithuania, the country’s regulator, Ria can now passport its digital license to other European countries continuing its operation in the European Union (EU) with Lithuania acting as a digital hub in the region.

Recognized as one of the most dynamic fintech hubs in the world and the second most important in Europe, Lithuania proved to be the perfect world class fintech ecosystem for Ria to continue promoting its wide breath of capabilities and run a successful digital operation. At the same time, with Brexit’s transition period nearing its due date, Ria is protecting its customers from any service impact or disruption caused by this event.

Ria delivers innovative financial services including fast, secure, and affordable global money transfers. Ria operates the world’s second largest network with more than 447,000 locations in 165 countries and the largest bank account deposit network, encompassing 120 countries and 3.6 billion bank accounts and growing at an average rate of 23% pa. Its home delivery coverage is the industry’s largest and Ria is the only company offering cardless ATM payout service. Its digital payout capabilities are rapidly expanding with mobile wallet holders approaching 2MM.

The leading money transfer company plans to establish an office in Vilnius, Lithuania, to have local support in different areas of their digital business, which will play a significant role in the development of digital solutions and its digital expansion across the EU.

“We are delighted to have found in Lithuania the perfect fintech ecosystem to continue promoting our digital operations in Europe,” shared Eduardo Gonzalez Cristos, Director of Digital Expansion at Ria. “We’re expanding our digital footprint and solutions adding capabilities related to funding methods, mobile wallets, personalization, among other financial services.”

“An increasing number of experienced industry leaders, such as Ria, choose to set up offices in Lithuania,” says Mantas Katinas, Managing Director of Invest Lithuania. “This shows that our multidisciplinary talent pool, innovative infrastructure, and progressive regulation successfully attract not only budding start-ups, but also established companies in the field of Finance. It is another step towards cementing Lithuania’s role as one of the best locations for Financial Technology globally.

ABOUT RIA

Ria Money Transfer, a subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), delivers innovative financial services including fast, secure, and affordable global money transfers. With the second most extensive cash settlement network and the largest direct bank deposit network in the world, Ria gets money to where it matters.

Ria’s integration into Euronet Worldwide’s REV Payments Cloud provides a gateway to a suite of state-of-the-art fintech products and services, advancing the company to the forefront of our industry. Bridging the gap between digital and physical transactions, our omnichannel products and services, together with our rapidly expanding alternative global payout capabilities, provide unprecedented consumer choice; these include agents and partners, real-time payments, home delivery, mobile wallets, and cardless ATM payout (exclusively with Ria).

Our global infrastructure facilitates financial access to customers and partners alike, promoting economic growth around the world by opening new market opportunities. At Ria, we open ways for a better everyday life.

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