Walmart-2-Walmart Powered by Ria wins prestigious Cash Innovation Award

Innovation is what drives us.

And there’s nothing better than being recognised for being the best at what we do.

On March 19, at the 2015 PYMNTS.com Innovator Awards ceremony held at Harvard University in Cambridge, Massachusetts, USA, Walmart-2-Walmart Powered by Ria, won the 2015 “Best Cash Innovation” Gold Award.

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Ria’s VP of Strategic Partnerships Jessica Yee, along with Ben Markl from Walmart US, accepted the “Best Cash Innovation” Gold Award at Harvard University.

Walmart-2-Walmart is the retail giant’s own private label money transfer service which launched in April 2014. Powered by Ria’s money transfer technology, the collaboration offers significant value and has already proven a hit with customers.

Walmart-2-Walmart bested four other formidable finalists to take gold, including Venmo and Bank of America Merrill Lynch, who won silver and bronze respectively.

Ria’s President and CEO, Juan Bianchi, said, “This win is something for us all to be proud of. Walmart-2-Walmart combines Walmart’s significant footprint and Ria’s high-quality service to offer customers a disruptive value proposition that is truly differentiated from other providers in the marketplace. It’s very exciting that PYMNTS.com, an influential B2B platform and the number one site for the payments industry, has recognised Walmart-2-Walmart with a Gold Award.”

Ria’s VP of Strategic Partnerships, Jessica Yee, also commented: “This award is a true testament to the disruptive nature of our service and it’s gratifying that it has received industry recognition. Ria is proud to partner with Walmart and we expect the Walmart-2-Walmart remittance service to go from strength to strength.”

As Daniel Eckert,  Senior Vice President of Services for Walmart US commented last year, by teaming up with Ria, Walmart was able to launch “a new service that challenges the status quo and drives down prices for our customers.”

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L-R: Ria’s Jessica Yee and Walmart’s Kirsty Ward proudly display the Gold Awards. Walmart-2-Walmart bested other finalists including Venmo and Bank of America Merrill Lynch.

Each year, millions of Americans transfer money within the US, but domestic transfer can often be costly. Due to Ria’s low-cost, high value proposition, Walmart chose us as their preferred partner; the result is a service like nothing else available in the US market. By using Ria’s ability to provide efficient, low-cost money transfers, Walmart is able to offer Americans a winning solution.

The Walmart-2-Walmart service allows customers to transfer up to $900 between any of Walmart’s 5,000 stores in the US. Furthermore, Ria’s infrastructure and expertise means that people who use Walmart-2-Walmart for their money transfers not only get an easier, simpler service, they also pay much less.

PYMNTS.com is an industry-recognised organisation that looks at innovation in the world of finance, payments and commerce. Their Innovator Awards are seen as one of the most prestigious in the payments industry and involve a thorough selection process.

This kind of recognition is of great significance to Ria. We’re proud to partner with Walmart and we look forward to driving the Walmart-2-Walmart service to even greater success.