Ria Money Transfer announced a strategic partnership with OXXO, the largest convenience store chain in Latin America. Much has been spoken about the possibility of remittance service providers driving financial inclusion and accessibility as the key. This is such a step towards that direction.
Mexico is one of the highest remittance-receiving countries in the world, just after India and China according to the latest report by the World Bank. Defying experts’ predictions, remittances to Mexico soared high in the month of March when Coronavirus was rising to its peak.
Ria is one of the oldest players in the industry with a worldwide network of 397,000 locations in 160 countries. Money transfer service providers offer higher exchange rates and lower fees compared to the high street banks. Ria was featured in our best ways to send money to Mexico.
Rosario Escarpita, Managing Director of Ria Money Transfer said, “It is vital for us to continue leading the way so that our customers can support their loved ones through our extensive network. Thanks to this alliance, we will provide better access to sending money and make this connection easier between family and friends.”
Santiago Rivera, Director of Financial and Electronic Services at OXXO said, “At OXXO, we seek to innovate our financial services to meet our customers’ needs, and we aim to simplify their lives by executing their day-to-day transactions in one place.”
The partnership between Ria and OXXA will increase the accessibility of formal remittance channels, enabling customers from all over Mexico to receive money through any of OXXO’s 19,000 stores in Mexico.
Customers will now benefit from quick and safe cash pick-up services through the convenience stores in addition to Ria’s network of approximately 402,000 locations in more than 150 countries, including the United States and Canada.
● Customers in Mexico will be able to receive up to $100 USD per transaction
● Customers can withdraw in cash up to $2,500 Mexican pesos at any OXXO stores
● This service is available from 6 am to 10 pm every day of the year.
For more questions like - Is Ria safe? What is the exchange rate of USD/MXN to send money through Ria? Read our complete guide and review on Ria.