Paysera is partnering with Ria Money Transfer to unlock payment collection in cash at more than 500,000 locations worldwide
This new initiative enables clients to send money not to a bank account but to the nearest Ria cash pickup location which includes 522,000 cash pickup locations in 152 countries throughout the world.
“Sometimes it’s not possible to transfer money to a bank account because the recipient doesn’t have a local bank account. For example, in Turkey, a country of 85 million people, 26% of the adult population does not have a bank account, said Gintautas Mezetis, CEO of Paysera.
“This amounts to 17 million people. It is quite common not to have an account in other parts of the world”.
Paysera believes that the new cash pickup transfer service will become appealing to migrants working in developed European countries who send money home to their relatives.
Moreover, it is hoped that this service will assist Ukrainian citizens who temporarily reside in EU countries due to the ongoing war, allowing them to look for ways to transfer money back to their home country.
“Even if the recipient has an account, it may not be linked to a debit card, the card may have been lost or there may be no ATMs around to withdraw the money,” continued Mezetis.
“An international transfer from Europe to Asia is sometimes more expensive than an alternative cash pickup transfer. Therefore, there are many situations where cash pickup transfers are useful and necessary.
Currently, cash pickup transfers at Ria service points are available using Paysera’s electronic banking, available from the first half of 2023 onwards on the Paysera mobile app.
Alla Shelest, Regional Director Business Development at Ria, added: “Remittances sent from relatives working in the EU to their loved ones can make up a significant part of the family budget, supporting their basic needs, such as health, food and education.
“Partnering with Paysera helps bring more convenience to customers without a bank account to receive financial support sent by relatives working abroad.”