The Unistream international money transfer system has teamed with Ria Money Transfer, a leading money transfer company with worldwide presence in more than 150 countries and subsidiary of Euronet Worldwide Inc (NASDAQ:EEFT). Thanks to this strategic partnership, customers all over the world can now send money to Russia from any of Ria's 435,000 locations to be collected at the Unistream network. Transfers will be available in both U.S. dollars and euros, with fair commission rates starting at 1%, depending on the sender's country.
In recent years, Russia has been actively receiving funds from migrant workers all over the world. According to the Central Bank of Russia, about $3.3 billion was sent to Russia in 2019. The volume of transfers increased by 25% compared to last year.
This year, the coronavirus pandemic has affected the remittance market but Unistream predicts a gradual recovery and further growth in transfer volumes. The Unistream and Ria Money Transfer alliance provides customers with greater convenience when sending money to their loved ones in Russia and for its recipients as well, offering a quick and reliable money transfer service at affordable and advantageous rates.
“One of Unistream's global goals is to promote migration processes as an important phenomenon in terms of global economic development. Recent years have shown fairly dynamic growth in labor migration from Russia. Russian professionals are in demand in the global labor market, and as a result, the volume of remittances to Russia from other countries is growing. Our cooperation with Ria Money Transfer, one of the world's largest money transfer companies, allows us to provide excellent customer service for receiving transfers via the wide Unistream network all over the country”, said Gagik Zakaryan, Chairman of the Board of Directors of Unistream Bank.
Ria Money Transfer is one of the largest players in the money transfer industry, ranking among the top three global leaders. With presence in more than 150 countries, it has retail locations in the United States, United Kingdom, France, Germany, Spain, Italy, Belgium, Poland, Latvia, Turkey, Georgia, to name a few.
“We're thrilled to partner with Unistream and help them achieve their goal of empowering Russian migrants around the world,” said Ignacio Reid, Chief Operating Officer at Ria Money Transfer. “Through this partnership, we'll be able to strengthen our presence in Russia to better support its expats looking to send money back to their loved ones, while further support the role of remittances in the region.”
About Unistream UNISTREAM BANK is the operator of the international money transfer system of the same name. Great rates, a large number of reliable, conveniently located service points, and exceptional customer service have made Unistream popular among migrants who work in Russia and send money to their families. Unistream serves customers at 150,000 points in 90 countries. Over 10 million people have transferred money using Unistream in the past three years. Since 2016, Unistream customers have also been able to transfer money online, using the bank's website or mobile app.
About Ria Ria, a subsidiary of Euronet Worldwide, Inc. (EEFT), is a global leader in the money transfer industry. The company is steadfast in its commitment to its clients and their communities, offering fast, secure, and affordable money transfers through a network of over 435,000 locations spanning across more than 150 countries and online at www.riamoneytransfer.com.