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Paytm partnered with Ria Money Transfer

Published on September 30, 2021
Current Context: The Paytm Payments Bank has partnered with Ria Money Transfer, which is a cross-border money transfer entity.
Paytm partnered with Ria Money Transfer
  • Under this partnership, both entities will provide the facility to the users to receive funds from their relatives living abroad.
  • By doing so, the Paytm Payments Bank has become 1st digital wallet in the country to allow international remittances by accepting deposits from abroad.
  • Also, the Ria Money Transfer (business segment of Euronet) has become the first money transfer company that will connect 333 million Paytm users.
  • The partnership will prove beneficial to more than 3.6 billion bank accounts and 410 million mobile and virtual accounts in India.
  • People abroad can now transfer money to Paytm wallet through the Ria Money Transfer app or website to India.
  • The money transfer will take place in real-time with security features.
  • Static Part: 
    • HQ of Paytm Payment Bank: Noida, UP
    • HQ of Ria Money Transfer: California, US

Question: 

Q.1 Which payment firm partnered with Ria Money Transfer to allow its users to receive funds from their relatives living abroad?
a. PayPal
b. Airtel Payments Bank
c. PhonePe
d. Paytm Payments Bank
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