In a decade Ria becomes the UK’s leading payment institution

Ria Team at Baker Street

The Ria Team at 75 Baker Street, London.

In the early afternoon of December 16, 2002, number 75 Baker Street in London was busy with construction workers and painters leaving for the day. They had just finished the decoration of Ria’s first store in the UK.

Just then, Vladimir, a Russian immigrant who was walking along Baker Street, saw this new store and remembered that he wanted to wire some money to his relatives in Russia. On the spot, he decided to send £66.65 to Moscow.

Vladimir didn’t know that this was Ria’s first transaction from the UK. The company had only received the license that day from HMRC.

In the first month, the Baker Street store made just 30 transactions, which were focused on Latin-America and Europe. In 2005 Ria’s Managing Director Marcela Gonzalez decided to expand the focus of the company. Despite being of Colombian descent, she saw the future of the company as global, so opened branches in new countries – first Ivory Coast, then all of Africa. Asia followed, with the help of collaborators like Suhail Shamsi, one of the first Ria employees and Business Development Director for Asia.

Many things have changed since 2002.

Russia now sends more remittances globally than it receives, and Ria now offers services to over 135 different countries. It has grown into a corporation that in 2012 made 30 million transactions. This corporation has been renamed Euronet Payment Services (EPS), the leading Payment Institution by the number of Agents in Britain registered with UK financial services regulator the FCA.

Despite experiencing huge growth in 10 years, there are many things that remain the same – you can still find Ria at 75 Baker Street, London, with Marcela at the helm.

Happy tenth anniversary!