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Euronet's (EEFT) Unit Ties Up to Expand Reach in Malaysia
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Euronet Worldwide, Inc. (EEFT - Free Report) arm Ria Money Transfer entered into a cash collection deal with Pos Malaysia Berhad (Pos Malaysia), a postal and courier service operator with the biggest touchpoint in Malaysia. This unique tie-up will ease international fund transfer and payment services at all Pos Malaysia points across the nation.
Customers will now be allowed to initiate their transactions through Ria Money’s fund transfer app and then make the payment in cash at Pos Malaysia outlets. The process won’t require any forms, which will save both time and effort.
The alliance is in line with Ria Money’s commitment to expand its foothold via postal network. 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.
With this initiative, Ria Money continues to help the migrant workers in the APAC region. The migrant community in Malaysia will now be able to send cash to their families through an easy and trustworthy method. The Indonesia International Remittance market is also expected to grow in the upcoming years, which gives Ria Money ample opportunity to grow in the said space.
As a matter of fact, Ria Money is massively contributing to strengthen the Money Transfer segment. Its international fund transfer grew 16% year over year in 2020, which is pretty impressive.
Moreover, customers will have access to see and lock competitive rates in real time through digital payment solutions. In December 2020, Ria Money inked a deal with Pos Indonesia to offer feasible cash payouts across Indonesia.
Ria Money is consistently partnering with post offices around the world. On its last earnings call, management announced the company’s tie-ups with post offices in Botswana, Indonesia, Moldova and Romania, which undoubtedly solidify its position in the global remittance market.
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 60%, 24.2% and 46.2%, respectively, in the same time frame.
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.
Image: Bigstock
Euronet's (EEFT) Unit Ties Up to Expand Reach in Malaysia
Euronet Worldwide, Inc. (EEFT - Free Report) arm Ria Money Transfer entered into a cash collection deal with Pos Malaysia Berhad (Pos Malaysia), a postal and courier service operator with the biggest touchpoint in Malaysia. This unique tie-up will ease international fund transfer and payment services at all Pos Malaysia points across the nation.
Customers will now be allowed to initiate their transactions through Ria Money’s fund transfer app and then make the payment in cash at Pos Malaysia outlets. The process won’t require any forms, which will save both time and effort.
The alliance is in line with Ria Money’s commitment to expand its foothold via postal network. 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.
With this initiative, Ria Money continues to help the migrant workers in the APAC region. The migrant community in Malaysia will now be able to send cash to their families through an easy and trustworthy method. The Indonesia International Remittance market is also expected to grow in the upcoming years, which gives Ria Money ample opportunity to grow in the said space.
As a matter of fact, Ria Money is massively contributing to strengthen the Money Transfer segment. Its international fund transfer grew 16% year over year in 2020, which is pretty impressive.
Moreover, customers will have access to see and lock competitive rates in real time through digital payment solutions. In December 2020, Ria Money inked a deal with Pos Indonesia to offer feasible cash payouts across Indonesia.
Ria Money is consistently partnering with post offices around the world. On its last earnings call, management announced the company’s tie-ups with post offices in Botswana, Indonesia, Moldova and Romania, which undoubtedly solidify its position in the global remittance market.
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 76.2% in six months’ time against the industry’s decline of 0.2%. 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 60%, 24.2% and 46.2%, respectively, in the same time frame.
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>>