Safaricom Partners with Ria on Mobile Money Transfer Services

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Safaricom’s M-Pesa, Kenya’s leading mobile money transfer service, has partnered with Ria Money Transfer, subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), to empower more than 26 million customers to conveniently receive international money transfers from over 20 countries across the world.

“This partnership will further increase the value we provide to our customers by offering them more choice and the power to receive transfers directly into their M-PESA accounts,” said Michael Joseph, CEO, Safaricom.

“We see a great partner in M-PESA, a company committed to our same goal: providing an efficient and customer-centric money transfer service to ensure funds make it into the hands of those who need it most,” said Juan Bianchi, CEO of Euronet’s Money Transfer Segment.

Customers sending money to M-PESA through Ria will be informed of the applicable exchange rate and transaction fee before sending money. Transfers sent through Ria will reflect immediately in a customer’s M-PESA balance saving recipients the trouble of currency conversions or having to visit an outlet to receive money sent to them.

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A global leader in cross-border money transfers, Ria has the second-largest money transfer network in the world with 389,000 locations across 161 countries.

Some of Ria’s top markets include the United States of America, Canada, the United Kingdom, Australia, Spain, in addition to the majority of European countries.