This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Euronet Deploys The First Independent And Shared Automated Deposit Terminal Networks In Europe

Euronet Worldwide, Inc. (NASDAQ: EEFT), a leading payments provider in Europe, announces the deployment of the first Independent and Shared Automated Deposit Terminal (ADT) Networks in Europe. Euronet has already signed network participation agreements with several banks, including Alior Bank S.A., Bank Handlowy w Warszawie S.A. (Citi Group) and Bank Pocztowy S.A. (Post Bank) in Poland as well as with Citibank Europe plc. in Romania, among others. These agreements allow customers from these banks to deposit cash into any Euronet branded deposit terminal in their respective country.

According to the European Central Bank, cash usage in Europe continues to grow. Between 2002 and 2010, the average annual growth of cash Euros used for transaction purposes was approximately 3.6%. With cash use on the rise, retailers and consumers look for convenient, reliable ways to deposit cash earned without incurring additional cost. Euronet’s new Independent ADT Networks in Poland and Romania feature off-site ADTs located in high-traffic retail locations which have extended hours, making access more convenient than traditional bank branches. ADTs allow customers to enjoy real-time access to their funds, reduced wait times at the bank branch and a variety of deposit types including account deposits and deposits for credit card or loan payments, with additional transaction types to be supported in the future.

Euronet’s new Independent Deposit Networks are the first to be operated with participation from multiple banks. Automating cash deposits allows banks to extend their branch services without incurring the cost of operating additional branch locations, reduces deposit processing costs and enhances customer satisfaction.

“Automated deposit technology is not a novelty in Europe. In Poland alone, there are approximately 2,000 ADT devices. The uniqueness of Euronet’s solution is the fact that its ADTs form the first Independent and Shared Network, which is not owned or operated by one specific bank. This enables customers of all network participating banks to deposit cash and allows banks to expand their footprint without additional investment,” stated Nikos Fountas, Senior Vice President and Managing Director, Europe EFT Processing Segment. “Given the operational complexity and high cost to run ADTs (as compared to ATMs), it is imperative for banks to consider the business case for participating in an Independent and Shared ADT Network,” added Mr. Fountas.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,896.35 -15.76 -0.09%
S&P 500 1,970.11 +0.16 0.01%
NASDAQ 4,460.6330 +17.9350 0.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs