LEAWOOD, Kan. - Ria Envia Inc., a global money-transfer company and subsidiary of Euronet Worldwide Inc., has expanded its payout network in Poland by signing a correspondent-agent deal with Bank Pocztowy, also known as Post Bank.
According to a news release, the deal expands Ria's network with the addition of Post Bank's nearly 8,000 payout locations.
Post Bank now expects to offer consumers the option to receive Ria money transfers from its payout locations. Those locations include a combination of bank branches and post offices. Post Bank expects to begin distributing money transfers for Ria by August.
Euronet says the opening of Western-European labor markets to Polish workers has fueled growth in money transfers, with financial inflows to Poland reaching approximately $8 billion a year in remittances.
