Ria Money Transfer and ACLEDA Bank expand remittances in Cambodia

The partnership adds nearly 300 cash pickup and payout locations to Ria’s network in Cambodia for a total of 4,318 in the country while also increasing account deposit and mobile application capabilities.

This expansion of Ria’s network includes convenient services such as cash payments, cash collection in both KHR (Cambodian Riel) and USD, and account deposits. Partnering with ACLEDA expands Ria’s presence in Cambodia, adding almost 300 cash pickup and payout locations in the country.

Money sent by customers anywhere in the world through Ria’s network to a Cambodian bank account is delivered in real time, arriving just moments after the sender completes the transaction.

The Cambodian remittance ecosystem

There are at least 1.3 million Cambodians living and working abroad and more than two-thirds of them send money home. In 2022 they sent USD 1.25 billion home to Cambodia, 8% more than in 2021. Remittances to Cambodia come from France, Canada, the United States, Australia, Thailand, Malaysia, South Korea, and Japan, among others, as per the press release.

Officials from Ria said that remittances continue to be a vital source of income for people in many countries, and at Ria, they are committed to helping people who are living and working far from home have access to the money transfer services they need to build a better everyday life. This partnership enables them to better serve customers and strengthen their presence in the region.

Ria is one of the largest money transfer companies in the world with more than 500,000 retail locations. ACLEDA is also one of the largest banks in Cambodia, offering customers and remittance recipients approximately 300 convenient locations nationwide to access Ria’s global money transfer service.

In a statement, ACLEDA’s representatives said they are very happy to partner with Ria Money Transfer to increase coverage and financial inclusion for customers. This cooperation will enable all kinds of customers (both Cambodian people and foreigners), who are working, doing business, and/or living in Cambodia and the rest of the world to transfer funds from and to Cambodia through Ria Money Transfer with more than 500,000 retail locations throughout the world. By achieving these goals, the operation of being a third-party processor of Ria Money Transfer will ensure sustainability and growth to all ACLEDA stakeholders, its shareholders, its staff, and the community at large.

What does Ria Money Transfer do?

Ria Money Transfer, a business segment of Euronet, delivers innovative financial services including fast, secure, and affordable global money transfers. With an extensive cash settlement network and direct bank deposit network, Ria gets money to where it matters.

Bridging the gap between digital and physical transactions, Ria’s omnichannel products and services, together with the company’s expanding alternative global payout capabilities, provide consumer choice, including agents and partners, real-time payments, home delivery, mobile wallets, and cardless ATM payouts (exclusively with Ria). It’s global infrastructure, powered by the Dandelion real-time, cross-border payments network, facilitates financial access to customers and partners alike, promoting economic growth around the world by opening new market opportunities.