Paytm, Ria Money tieup for cross border money transfer

Chennai: Ria Money Transfer, a business segment of Euronet Worldwide, Inc. and Paytm Payments Bank, have announced a partnership to enable customers to send money in real time - virtually instantly - through Ria’s extensive network to Paytm’s prominent mobile wallet.

Under the terms of the agreement, Paytm will accept international remittances directly into a digital wallet, and Ria will get connected with Paytm’s approximately 333 million wallet users increasing its customer reach in the region and creating a new delivery channel for the Indian diaspora to send money back home. Customers abroad can transfer money to Paytm wallet users in India through the Ria Money Transfer app or website or by visiting any one of the 490,000 Ria retail locations available worldwide where the service is available. Every money transfer will be made in real time, offering advantageous security features such as account validation and name matching, which ensures customers will enjoy a safe and convenient user experience, a Ria Money statement said. The charges for fund transfer will be cheaper than traditional fund transfer modes, depending on the geography and quantum of funds transferred. The sender will pay 15 Dirhams for transfer from the UAE into India and $5 to $6 for transfer from the US.


Select The Times of India as your preferred source on Google Search.

Stay informed with the latest business news, updates on bank holidays, public holidays, current gold rate and silver price.