LOS ANGELES--(BUSINESS WIRE)--
Ria Financial Services. (Ria), the third-largest global money transfer
company and a subsidiary of Euronet Worldwide Inc. (NASDAQ:EEFT),
announced today the expansion of its payout network in Mexico by signing
a correspondent agreement with Grupo Elektra. With the addition of more
than 1,800 Groupo Elektra payout locations, the agreement expands Ria's
payout network in Mexico by 11%.
"We couldn't be more pleased to announce the addition Elektra to our
growing global correspondent network. Elektra has been serving consumers
in one of Ria's key corridors for more than 50 years, and now together
we will offer fast, reliable and affordable money transfer services to
Mexico," said Michael J. Brown, Chairman and Chief Executive Officer,
Euronet Worldwide. "We look forward to a mutually beneficial, exciting
and long-term relationship with Elektra."
"We are very excited about the Ria — Elektra alliance as we will be
closer to Ria's remittance clients through its 146,000 locations," said
Elektra.
According to the World Bank, nearly 12 million Mexican citizens living
in the U.S. sent more than $22.7 billion in remittances home in 2011. As
a leader in the money transfer industry in Mexico, Elektra's services
are highly sought out. With one of the largest payout networks in
Mexico, Grupo Elektra has unparalleled brand recognition. Ria locations
throughout the United States are promoting this new relationship with
marketing collateral in more than 2,000 locations along with social
media and Interactive Voice Response messaging.
Company Profile
Ria Financial Services was founded in 1987 and today is the
third-largest money transfer company in the world, with a global network
of 146,000 locations in 136 countries on 6 continents. In addition to
money transfer services, Ria offers bill payment, mobile top-ups,
prepaid debit cards, check cashing and money orders.
Ria is committed to bringing payment convenience to our customers and to
millions of people who have not had it before. We strive to offer
service excellence and the most competitive and reliable remittance
payment services to the world.
Ria Financial Services is a wholly owned subsidiary of Euronet
Worldwide, Inc. (NASDAQ: EEFT).
About Grupo Elektra
Grupo Elektra (www.grupoelektra.com.mx)
is Latin America's leading financial services company focused on the
mass market. The Group operates over 2,600 points of sale in Mexico,
Brazil, Guatemala, Honduras, Peru, Panama, El Salvador and Argentina.
Grupo Elektra also sells and markets its consumer finance, banking and
financial products and services through Banco Azteca branches located in
Mexico, Brazil, Panama, Guatemala, Honduras, Peru and El Salvador.
Grupo Elektra is a Grupo Salinas company (www.gruposalinas.com),
a group of dynamic, fast-growing, and technologically advanced companies
focused on creating shareholder value, contributing to build the middle
class of the countries in which they operate and improving society
through excellence. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com),
Grupo Salinas operates as a management development and decision forum
for the top leaders of member companies. The companies include Azteca (www.irtvazteca.com),
Azteca America (www.aztecaamerica.com),
Grupo Elektra (www.grupoelektra.com.mx),
Banco Azteca (www.bancoazteca.com.mx),
Afore Azteca (www.aforeazteca.com.mx),
Seguros Azteca (www.segurosazteca.com.mx)
and Grupo Iusacell (www.iusacell.com.mx).
Each of the Grupo Salinas companies operates independently, with its own
management, board of directors and shareholders. Grupo Salinas has no
equity holdings. However, the member companies share a common vision,
values and strategies for achieving rapid growth, superior results and
world-class performance.
Ria Financial Services
Debi Buckley, +1 562-345-2100
dbuckley@riafinncial.com
www.riafinancial.com
Source: Ria Financial Services
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