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TheStreet Open House

Euronet Worldwide Expands Independent ATM Networks To Spain And Italy

Stocks in this article: EEFT

Euronet Worldwide, Inc. (NASDAQ: EEFT) today announced the addition of two new countries to its portfolio of Independent ATM Deployed (IAD) networks. Entry into these new markets represents Euronet’s first IAD network deployments completed without a sponsor bank and expands Euronet’s position as the fastest growing and most geographically diverse Independent ATM Deployer in Europe.

The IADs in two new markets, Spain and Italy, mark Euronet’s first EFT presence in these countries which were made possible by the European Payment Service Directive (PSD) e-money license granted to Euronet in 2011. The combination of the PSD license, together with approval for direct membership with Visa and MasterCard, allow Euronet to acquire ATM debit and credit card transactions without the requirement of a sponsor bank.

“Euronet is an industry leader in ATM deployment with 18 years of proven operating excellence,” stated Nikos Fountas, Managing Director of Euronet’s EFT Europe Division. “Using our PSD license, we are now able to bring our experience to new markets without dependency on sponsor banks, thereby retaining control of the entire implementation process and shortening the lead time required to enter a new market.”

Euronet’s new ATMs are located in off-bank premise, high-traffic locations, making access to cash more convenient for customers.

Market entry into Spain and Italy brings Euronet’s IAD presence 10 European countries, including: Spain, Italy, Romania, Greece, Croatia, Poland, Germany, Czech Republic, Ukraine and Bulgaria. Additionally, Euronet provides global ATM software solutions, operates the largest shared ATM network in India and provides ATM outsourcing solutions for customers throughout Europe, Asia Pacific and the Middle East.

“Euronet’s ability to leverage our extensive ATM management experience and existing infrastructure, combined with our value added service portfolio creates unique benefits and convenience for both bank customers and end-users,” stated Danilo Rivalta, General Manager of Euronet’s Western Europe EFT Division.

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