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Euronet (EEFT) Unit Ties Up With Pos Indonesia to Expand Reach
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Euronet Worldwide, Inc.’s (EEFT - Free Report) subsidiary Ria Money Transfer recently inked a deal with Pos Indonesia to offer feasible cash payouts across Indonesia. The deal will help enhance the company’s nationwide reach, through which the Indonesian expat community will be able to transfer international remittances to family and friends most conveniently and securely. Recipients will be able to collect the money from 4,368 post office branches throughout the country.
The alliance is in line with Ria Money’s commitment to expand its foothold via postal network. It undoubtedly sets a milestone in Ria Money’s APAC expansion including Pos Indonesia’s locations. Notably, the major role of post offices is also underlined through this tie-up as those are the last-mile delivery stations of cash pickup services for communities.
Indonesia has been a major remittance receiver in the Asia Pacific region for long. There is heavy reliance on cash payouts, especially by migrant workers from areas like Malaysia and Saudi Arabia. The Indonesia International Remittance market is also expected to grow in the upcoming years. The country’s wide and complicated geography and above 200million population along with Pos Indonesia’s ability to cater to remote domains hold great growth prospects for Ria Money. Remittances in the region have been growing in recent years, thus providing a golden opportunity for Indonesia’s excess labor force.
This collaboration solidifies Ria Money’s position as the leading money transfer partner for postal organizations across the globe.
Ria Money is consistently partnering with post offices around the world. A host of activities poises this business line well for growth. As a matter of fact, Ria Money has been massively contributing to strengthen the Money Transfer segment. To this end, the unit announced a tie-up with Fiesta Mart, the large Texas-based grocery chain, which is part of Bodega Latina Corporation. Per the deal, the latter will facilitate money transfer services of the former across the Texan state through its in-store service centers. Ria Money also joined forces with America’s leading grocery market retailer Kroger in October, which enabled customers to make money transfers across the country and the rest of the world.
Ria Money entered into a strategic partnership with global cross-border payment provider Thunes to allow customers worldwide to send money directly to mobile wallets and bank accounts in the key emerging markets. Riding on the above-mentioned initiatives to boost its global presence, Ria boasts a strong worldwide network of enhanced financial services.
Also, the global remittance market is well-placed for growth and coupled with higher adoption of digital transactions, it also bodes well for Euronet in the long haul.
Other stocks in the same space including Synchrony Financial (SYF - Free Report) , Globe Life Inc. (GL - Free Report) and American Express Company (AXP - Free Report) have also rallied 35.9%, 22% and 16.5%, respectively, in the same time frame. All three stocks carry the same Zacks Rank as Euronet at present.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early. See the 5 high-tech stocks now>>
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Euronet (EEFT) Unit Ties Up With Pos Indonesia to Expand Reach
Euronet Worldwide, Inc.’s (EEFT - Free Report) subsidiary Ria Money Transfer recently inked a deal with Pos Indonesia to offer feasible cash payouts across Indonesia. The deal will help enhance the company’s nationwide reach, through which the Indonesian expat community will be able to transfer international remittances to family and friends most conveniently and securely. Recipients will be able to collect the money from 4,368 post office branches throughout the country.
The alliance is in line with Ria Money’s commitment to expand its foothold via postal network. It undoubtedly sets a milestone in Ria Money’s APAC expansion including Pos Indonesia’s locations. Notably, the major role of post offices is also underlined through this tie-up as those are the last-mile delivery stations of cash pickup services for communities.
Indonesia has been a major remittance receiver in the Asia Pacific region for long. There is heavy reliance on cash payouts, especially by migrant workers from areas like Malaysia and Saudi Arabia. The Indonesia International Remittance market is also expected to grow in the upcoming years. The country’s wide and complicated geography and above 200million population along with Pos Indonesia’s ability to cater to remote domains hold great growth prospects for Ria Money. Remittances in the region have been growing in recent years, thus providing a golden opportunity for Indonesia’s excess labor force.
This collaboration solidifies Ria Money’s position as the leading money transfer partner for postal organizations across the globe.
Ria Money is consistently partnering with post offices around the world.
A host of activities poises this business line well for growth. As a matter of fact, Ria Money has been massively contributing to strengthen the Money Transfer segment. To this end, the unit announced a tie-up with Fiesta Mart, the large Texas-based grocery chain, which is part of Bodega Latina Corporation. Per the deal, the latter will facilitate money transfer services of the former across the Texan state through its in-store service centers. Ria Money also joined forces with America’s leading grocery market retailer Kroger in October, which enabled customers to make money transfers across the country and the rest of the world.
Ria Money entered into a strategic partnership with global cross-border payment provider Thunes to allow customers worldwide to send money directly to mobile wallets and bank accounts in the key emerging markets.
Riding on the above-mentioned initiatives to boost its global presence, Ria boasts a strong worldwide network of enhanced financial services.
Also, the global remittance market is well-placed for growth and coupled with higher adoption of digital transactions, it also bodes well for Euronet in the long haul.
Zacks Rank & Price Performance of Peers
Shares of Euronet, which currently carries a Zacks Rank #3 (Hold), have gained 35.5% in six months’ time against the industry’s decline of 11%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other stocks in the same space including Synchrony Financial (SYF - Free Report) , Globe Life Inc. (GL - Free Report) and American Express Company (AXP - Free Report) have also rallied 35.9%, 22% and 16.5%, respectively, in the same time frame. All three stocks carry the same Zacks Rank as Euronet at present.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>