Ria Money Transfer is teaming up with Weizmann Forex, Paul Merchants and Transcorp International to provide customers in India a ‘gold standard’ money transfer service.

The money transfer agent is a subsidiary of Euronet Worldwide. Customers here can use its ‘gold standard’ cash payout network and be eligible to win pure gold prizes.

These include one of 30 gold coins weighing 30 grams, or a ‘bumper’ 100 grams of gold. In total, Ria will offer 1kg of gold prizes, between May 23 and July 31, through authorised payout locations.

Ria’s new agents have more than 15 years of experience. Their expertise will add value to its network, with tens of thousands of locations to be added across the country, the firm said.

These will provide tremendous convenience and accessibility to beneficiaries to easily receive cash remittances, said Juan Bianchi, CEO and President, Ria Money Transfer.

“India is the top receiving market for migrant remittances, receiving $62.7 billion in 2016. Millions of households are largely dependent on these transfers for family maintenance, savings and investment. We are proud to be the link that connects Indians to their loved ones in rural, semi-urban and urban centres across the country.”

Karthikeyan Balasubramanian, Managing Director of Weizmann Forex, said the venture will address the rising demand for quick, reliable and efficient money transfer services from a wide audience.

S Paul, Chairman and Managing Director, Paul Merchants, said customers could now look forward to streamlined financial operations with unmatched global reach.

Ashok Kumar Agarwal, Director, Transcorp International, said the new venture will serve the large remittance-dependent population spread out across India.

Ria also announced its expansion in West Asia, especially Gulf Cooperation Council (GCC) countries, which is one of the world’s top remittance-sending regions.

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