New Delhi: India Post Payments Bank (IPPB) has officially announced its partnership with Ria Money Transfer (Ria), a cross-border money transfer company and a business segment of Euronet Worldwide, Inc. The collaboration is designed to offer financial services at the doorstep that are both accessible and affordable to customers in remote regions of India.
This partnership will enable the Internationals Inward Money Transfer service to be accessed at over 25,000 Post Office locations right away, with an anticipated reach of over 100,000 locations via the Post Offices. In addition, IPPB & Ria are utilising current technology and infrastructure to revolutionise the money transfer process. This includes verified biometric authentication for customers’ KYC (Know Your Customer) without the need to present any physical ID to collect remittances and digital transaction confirmation with a paperless receipt.
By streamlining remittances through a secure, paperless journey, ensuring regulatory compliance, and increasing security, the companies aim to improve customer experience. India Post Payments Bank (IPPB) was established on September 1, 2018, under the Department of Posts, Ministry of Communication, with 100% equity owned by the Government of India.
