(C): Daniel N - twitter
Ria Money Transfer has launched its Ria Wallet app which aims to assist one of the most underserved populations of unbanked migrant workers in Malaysia. This app, which is fully certified by the Department of Labour under the Ministry of Human Resources, allows for secure digital wage payouts to be made via e-wallet in accordance with local labour policies.
Ria goes beyond many purely digital fintech product offerings by combining an app with a hybrid support model.The app enables seamless QR based transactions, cross border remittances and real time money transfers designed for migrant needs. Migrants can also have in-person onboarding from any of Ria’s 78 outlets in Malaysia and also add money to wallets in person at the store counter. Users can use any of Euronet’s 1,400 ATMs across the country and can make cash withdrawals at no fees.
Read Also:Labour’s ‘BritCard’ Digital ID: What It Means for Migration Policy
Ria maximizes its global presence of over 624,000 sites worldwide to promote a more affordable and simple way for migrant workers to send money home . Backed by Bank Negara Malaysia and licensed as an e-money issuer, Ria Wallet adheres to strict cybersecurity standards and eKYC regulations, and registration is simple for those with limited technology experience. Customers can also access multilingual support making it accessible for a variety of migrant communities.
What This Means for Migrant Workers
Eliminate cash and informal systems: Workers are able to receive their wages digitally and immediately.
No-cost services: Ria promotes the use of its services with free withdrawals and free transfers.
Convenient and trustworthy: Ria provides physical locations to onboard users, enabling even users who are less comfortable with technology to use the app confidently.
A global remittance provider has emerged in Ria. The new Wallet app will provide significant potential with strong regulatory compliance, large adoption and continuing support not just for the migrant labor market in Malaysia but an example for financial inclusion across the globe.
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