RIA Financial Services, Cerritos, California, a wholly owned subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), today announced the achievement of an important milestone: expansion to more than 100,000 locations worldwide.
  • In the second quarter, RIA exceeded 100,000 locations worldwide for the first time.
  • RIA’s worldwide network rose to 120 countries with a total of 104,485 locations – up 32% from 79,249 locations in Q2 2009 and 46% from 71,615 locations in Q2 2008.
  • In the second quarter, RIA launched enhanced payout services to 13 countries, with emphasis on developing markets such as India, Vietnam, Moldova, Liberia, Cameroon and Senegal, among others. Second quarter additions to the payout network totaled 17,798 locations.
  • In the second quarter, RIA signed contracts with payout partners in 12 countries with a combined potential network of 1,520 locations. Key countries include Serbia, Bosnia, Poland, Morocco and Jamaica – all expected to go ‘live’ in Q3.

Michael Brown, Chairman and Chief Executive Officer of Euronet Worldwide, Inc. stated:

RIA has expanded its money transfer locations by 46% in the last two years. RIA has penetrated the African, Central and Eastern European and Southern Asian continents in the last two years through the signing, on-boarding and certifying the quality and speed of delivery of additional experienced bank and other types of RIA money transfer network correspondents. Significant investment has been required in sales, systems, operational support and marketing but we believe that we are now very well positioned to reap the benefits of these investments.

This continuous expansion and improvement of RIA’s paying agents in new and existing RIA money transfer beneficiary countries is complemented by RIA’s entry and expansion into more money transfer sending markets.

We have accomplished a substantial improvement in the quality and depth of our offering on both the sending and paying sides of a typical money transfer transaction, and can make such offering to a larger and more diverse set of immigrants.

With a rapidly growing network now exceeding 100,000 locations in 120 countries we believe that RIA is poised for significant growth in immigrant payments penetration. This has been our strategy and we believe we are seeing the benefits of the investment in quality and expansion that we implemented soon after acquiring RIA.

About Euronet Worldwide, Inc.

Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, mobile operators and retailers which include comprehensive ATM, POS and card outsourcing services; card issuing and merchant acquiring services; software solutions; consumer money transfer and bill payment services; and electronic distribution for prepaid mobile airtime and other prepaid products. Euronet operates and processes transactions from 42 countries.

Euronet’s global payment network is extensive — including 9,336 ATMs, approximately 51,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 26 countries; card software solutions; a prepaid processing network of approximately 470,000 point-of-sale terminals across approximately 232,000 retailer locations in 20 countries; and a consumer-to-consumer money transfer network of approximately 104,400 locations serving more than 120 countries. With corporate headquarters in Leawood, Kansas, USA, and 36 worldwide offices, Euronet serves clients in approximately 145 countries. For more information, please visit the Company’s website at: www.euronetworldwide.com.

About RIA Financial Services

RIA Financial Services, Euronet Worldwide, Inc. subsidiary company– is the third-largest global money transfer company. It provides global consumer-to-consumer money transfer services through a sending network of agents and Company-owned stores, disbursing money transfers through a worldwide payer network. In addition to money transfers, RIA Financial Services offers consumers bill payment services, prepaid debit cards, check cashing and other financial services. Today our Money Transfer Segment:
  • Owns and operates a transaction processing center in the United States;
  • Provides electronic consumer-to-consumer money transfer services through a network of approximately 104,400 locations serving more than 120 countries;
  • Processes approximately $7 billion in money transfers annually.

For more information or to apply to be a RIA agent, please visit the Company's website at www.riafinancial.com.

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