Ria expands money transfers with Post Offices

Senegal’s La Poste was the first Post office to become a Ria’s partner

Senegal’s La Poste was the first Post office to become Ria’s partner.

Post offices represent the biggest retail network in most of the world’s countries. Their size allows capillarity second to none.

That’s why Ria Financial is deploying an effort to partner with them in the money transfer area. In 2011, Ria Financial became a partner of La Poste in Senegal, with 211 offices and the Société des Postes du Togo (78 offices). In all cases, post offices serve as the destination and payout point of our transactions.

Ria arrived into European postal territory in 2012 with an indirect agreement that opened the doors to new partners like Bulgarian Posts (2,981 offices) or Portugal’s CTT (2,537 offices).

Ria has escalated this effort by signing with China Post (with almost 40,000 offices) and the Régie Nationale des Postes in Burundi (110 offices).

One of the drivers of this expansion was the sudden fall from fashion of traditional exclusivity agreements for the distribution of money transfer services. Those agreements prevented competition at the point of sale. Ria’s arrival has meant an increase in competition, helping deliver more convenient and affordable services to the customer.