Ria Money Transfer and Xe collaborate with Google to enhance accessibility for cross-border money transfers globally.
Quiver AI Summary
Ria Money Transfer and Xe, both part of Euronet, have announced a partnership with Google to enhance the accessibility of cross-border money transfers. This collaboration aims to simplify the process for Google users to utilize Ria and Xe’s money transfer services. The global digital remittance market, valued at $23.4 billion in 2024, is expected to grow at a CAGR of 13.5% to reach $83.2 billion by 2034, fueled by the rise of embedded finance. Ria and Xe boast extensive support for mobile wallets, bank accounts, and multiple payment locations worldwide. Euronet’s CEO, Juan Bianchi, expressed excitement about this partnership, emphasizing the convenience of digital money transfers and the potential to reach millions of new customers through Google's platform.
Potential Positives
- The collaboration with Google aims to significantly increase the accessibility of cross-border money transfers for a larger audience, potentially driving higher transaction volumes for Ria and Xe.
- The press release highlights an anticipated growth in the digital remittance market, which may enhance Ria and Xe’s revenue potential as they align with this market trend.
- Ria and Xe are poised to leverage Google's vast reach to introduce their services to millions of new customers, expanding their user base and market penetration.
- The mention of Ria's extensive global infrastructure and network underscores its competitive advantage in the money transfer industry, reinforcing its position as a leader in the market.
Potential Negatives
- Collaboration with Google could draw attention to Ria and Xe's existing market challenges, as investors may question the need for such partnerships if the companies are already leaders in the industry.
- The announcement may create investor skepticism regarding the long-term competitive advantage, given the rapid growth of digital remittance competitors that could potentially overshadow Ria and Xe's efforts.
- The emphasis on digital remittances and embedded finance raises concerns about the companies' adaptability to changing market dynamics and evolving consumer preferences.
FAQ
What is the collaboration between Ria Money Transfer, Xe, and Google?
The collaboration aims to make cross-border money transfers more accessible for Google users through Ria and Xe’s services.
How does this partnership benefit Google users?
Google users will have an easier way to find and conduct cross-border money transfers using Ria and Xe’s platforms.
What are the projections for the global digital remittance market?
The digital remittance market is expected to grow from USD $23.4 billion in 2024 to USD $83.2 billion by 2034.
How many locations do Ria and Xe support for money transfers?
Ria and Xe support 624,000 locations across nearly 200 countries and territories for money transfers.
What services does Ria Money Transfer provide?
Ria offers global money transfers, mobile wallets, currency exchange, home delivery, and real-time payments among other services.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
BUENA PARK, Calif., July 09, 2025 (GLOBE NEWSWIRE) -- Ria Money Transfer (Ria), a global leader in the money transfer industry, and Xe, a global payments provider with 30 years of experience and trusted expertise moving money around the world — both business segments of Euronet (NASDAQ: EEFT) — announced today a collaboration with Google to make cross-border money transfers more accessible. The companies will work together to make it easier for Google users to find and conduct cross-border money transfers via Ria and Xe’s services.
In 2024 , the total revenue for the global digital remittance market was forecasted at USD $23.4 billion, and it is projected to rise swiftly at a Compound Annual Growth Rate (CAGR) of 13.5%, reaching USD $83.2 billion by the end of 2034. Part of the growth of digital remittances has been driven by the increased use of embedded finance. The global embedded finance market size was valued at USD $104.8 billion in 2024.
Today, Ria and Xe already support 3.2 billion mobile wallet accounts, 4 billion bank accounts, 4 billion Visa cards and 624,000 locations across nearly 200 countries and territories. This strategic collaboration between Ria, Xe and Google aims to simplify access to cross-border payments for more people around the world, helping Google users discover and transact more easily.
“Thanks to the convenience of digital channels, more and more customers are choosing to send money online,” said Juan Bianchi, Euronet’s EVP & CEO Money Transfer segment. “We are thrilled to be working with Google, and through their vast reach, make Ria and Xe’s money transfer service available to millions of people who haven’t experienced it before.”
About Ria Money Transfer
Ria Money Transfer , a business segment of Euronet (NASDAQ: EEFT), delivers innovative financial services including fast, secure, and affordable global money transfers. With the world’s largest cross-border real-time money movement network, Ria moves money where it matters.
Bridging the gap between digital and physical spaces, Ria’s omnichannel products and services provide unprecedented consumer choice, including real-time payments, mobile wallets, currency exchange, home delivery, and cardless ATM payouts. Ria’s global infrastructure, powered by the Dandelion real-time, cross-border payments network, facilitates financial access to customers, agents and partners alike. By creating new market opportunities and promoting economic growth around the world, Ria opens ways for a better everyday life.
About Xe
Xe is a trusted global payments provider with 30 years of experience and expertise moving money around the world. Thousands of businesses rely on our services every day to manage their international payments and support their FX risk management strategies.
Xe helps you navigate the complexities of international business, offering preferred FX rates, and structured products that allow you to protect your bottom line.
We are proud to be part of Euronet Worldwide Inc. (NASDAQ: EEFT), with a multi-billion-dollar market capitalization and investment grade credit rating.
