Euronet and Prosegur Cash Launch Independent ATM Network in Peru and the Dominican Republic
Euronet (NASDAQ: EEFT) and Prosegur Cash have launched their Independent ATM Network (IAD) in Peru and the Dominican Republic as part of their joint venture branded as LATM. The initiative is supported by local financial institutions Banco Alfin in Peru and Banco BHD in the Dominican Republic.
The joint venture will deploy state-of-the-art ATMs in strategic locations, particularly in areas frequented by international travelers. The ATMs will feature LATM branding along with respective bank brands in each country. The partnership combines Euronet's Ren payments platform and ATM management services with Prosegur Cash's operational services for cash management and hardware services.
Euronet (NASDAQ: EEFT) e Prosegur Cash hanno lanciato la loro Rete ATM Indipendente (IAD) in Perù e nella Repubblica Dominicana nell'ambito della loro joint venture denominata LATM. L'iniziativa è supportata dalle istituzioni finanziarie locali Banco Alfin in Perù e Banco BHD nella Repubblica Dominicana.
La joint venture installerà ATM all'avanguardia in posizioni strategiche, soprattutto in aree frequentate da viaggiatori internazionali. Gli ATM presenteranno il marchio LATM insieme ai brand delle rispettive banche in ciascun paese. La collaborazione unisce la piattaforma di pagamenti Ren di Euronet e i servizi di gestione ATM con i servizi operativi di Prosegur Cash per la gestione del contante e l'assistenza hardware.
Euronet (NASDAQ: EEFT) y Prosegur Cash han lanzado su Red Independiente de Cajeros Automáticos (IAD) en Perú y la República Dominicana como parte de su empresa conjunta bajo la marca LATM. La iniciativa cuenta con el respaldo de las instituciones financieras locales Banco Alfin en Perú y Banco BHD en la República Dominicana.
La empresa conjunta desplegará cajeros automáticos de última generación en ubicaciones estratégicas, especialmente en zonas frecuentadas por viajeros internacionales. Los cajeros automáticos llevarán la marca LATM junto con las marcas bancarias respectivas en cada país. La asociación combina la plataforma de pagos Ren de Euronet y los servicios de gestión de cajeros automáticos con los servicios operativos de Prosegur Cash para la gestión de efectivo y servicios de hardware.
Euronet (NASDAQ: EEFT)와 Prosegur Cash가 페루와 도미니카 공화국에서 독립 ATM 네트워크(IAD)를 LATM이라는 합작 투자 브랜드명으로 출시했습니다. 이 이니셔티브는 페루의 Banco Alfin과 도미니카 공화국의 Banco BHD 등 현지 금융 기관의 지원을 받고 있습니다.
합작 투자는 특히 국제 여행객들이 자주 찾는 전략적 위치에 최첨단 ATM을 설치할 예정입니다. ATM에는 각 국가별 은행 브랜드와 함께 LATM 브랜드가 표시됩니다. 이번 파트너십은 Euronet의 Ren 결제 플랫폼과 ATM 관리 서비스, 그리고 Prosegur Cash의 현금 관리 운영 서비스 및 하드웨어 서비스를 결합합니다.
Euronet (NASDAQ : EEFT) et Prosegur Cash ont lancé leur réseau indépendant de distributeurs automatiques (IAD) au Pérou et en République dominicaine dans le cadre de leur coentreprise baptisée LATM. L’initiative est soutenue par les institutions financières locales Banco Alfin au Pérou et Banco BHD en République dominicaine.
La coentreprise installera des distributeurs automatiques de pointe dans des emplacements stratégiques, notamment dans des zones fréquentées par les voyageurs internationaux. Les distributeurs arboreront la marque LATM ainsi que les marques bancaires respectives de chaque pays. Ce partenariat combine la plateforme de paiement Ren d’Euronet et les services de gestion des distributeurs automatiques avec les services opérationnels de gestion de liquidités et de matériel de Prosegur Cash.
Euronet (NASDAQ: EEFT) und Prosegur Cash haben ihr unabhängiges Geldautomaten-Netzwerk (IAD) in Peru und der Dominikanischen Republik im Rahmen ihres Joint Ventures unter der Marke LATM gestartet. Die Initiative wird von den lokalen Finanzinstituten Banco Alfin in Peru und Banco BHD in der Dominikanischen Republik unterstützt.
Das Joint Venture wird hochmoderne Geldautomaten an strategischen Standorten aufstellen, insbesondere in Gegenden, die häufig von internationalen Reisenden besucht werden. Die Geldautomaten tragen das LATM-Branding zusammen mit den jeweiligen Bankmarken in jedem Land. Die Partnerschaft vereint die Ren-Zahlungsplattform und das Geldautomaten-Management von Euronet mit den operativen Bargeldmanagement- und Hardware-Dienstleistungen von Prosegur Cash.
- Geographic expansion into new Latin American markets through strategic joint venture
- Partnership with established local financial institutions enhances market penetration
- Potential for rapid growth through ATM As-a-Service offerings to banks
- None.
Insights
Euronet's Latin American ATM expansion with Prosegur Cash demonstrates strategic market entry through established local partnerships and complementary operational capabilities.
The joint venture between Euronet and Prosegur Cash marks a significant operational milestone in their previously announced LATM partnership to penetrate Latin American markets. This collaboration strategically combines Euronet's Ren payments platform and ATM management expertise with Prosegur's on-the-ground operational capabilities including cash management and hardware services.
The partnership with Banco Alfin in Peru and Banco BHD (the second-largest private bank in the Dominican Republic) provides immediate market credibility and established distribution channels. This represents a textbook market entry strategy that minimizes barriers through local institution partnerships while maintaining brand visibility through the dual-branding approach.
The initiative introduces two distinct revenue streams: direct consumer-facing ATM services and the ATM As-a-Service solution targeting financial institutions across the region. This B2B offering could potentially create recurring revenue opportunities beyond traditional transaction fees, though specific financial projections aren't disclosed.
Executive statements from both companies signal confidence in rapid deployment capabilities, with Euronet's EVP specifically highlighting their "global processing centers" as enablers of acceleration. The emphasis on locations attracting international travelers also suggests strategic positioning to capture cross-border transaction volume, aligning with Euronet's core competencies.
The LATM deployment in Peru and Dominican Republic represents a calculated entry into markets where cash transactions remain culturally predominant despite global digital payment trends. Latin America presents unique opportunities for ATM networks due to its combination of cash-centric domestic economies and growing international tourism sectors.
The partnership selection demonstrates market intelligence - Banco BHD provides access to the Dominican Republic's substantial tourism ecosystem as the country's second-largest private bank. Meanwhile, Banco Alfin's technological focus makes it an ideal partner for introducing advanced ATM solutions in Peru's developing financial infrastructure.
The strategic targeting of "key locations where cash is needed most" and "popular destinations attracting international travelers" indicates a nuanced understanding of regional market dynamics. This dual approach serves both local cash dependency and tourism-related currency service needs.
This market entry is particularly notable as it represents the first operational implementation of what appears to be a broader Latin American expansion strategy. The joint venture's ability to secure sponsorship from leading financial institutions in both countries demonstrates credibility within these markets and suggests potential for the "rapid growth" mentioned by Euronet's executive leadership.
The emphasis on "state-of-the-art ATM solutions" aligns with Latin America's increasing demand for financial service modernization while recognizing the continued importance of physical currency infrastructure.
LEAWOOD, Kan. and MADRID, April 22, 2025 (GLOBE NEWSWIRE) -- Euronet (NASDAQ: EEFT), a global leader in payments processing and cross-border transactions, and Prosegur Cash (Spanish SE: CASH), a global Cash-In-Transit company with strong leadership in Latin American markets, announced today the launch of their Independent ATM Network (IAD) in Peru and the Dominican Republic. The initiative is part of their joint venture agreement, branded as LATM (a combination of LATAM and ATM), to deploy independent ATMs across most countries of Latin America and provide comprehensive ATM As-a-Service solutions to banks and financial institutions in the region.
The initiative is sponsored by leading local financial institutions in both markets: Banco Alfin, recognized in Peru for its commitment to digitalization and technological innovation, and Banco BHD, the second-largest private bank in the Dominican Republic. The joint venture will provide state-of-the-art ATM solutions in key locations across both countries where cash is needed most, including popular destinations attracting international travelers. The ATMs will feature the distinct and well-recognized LATM branding, showcasing the combined strengths of the parties in providing financial services at scale. The BHD and Alfin brands will also be displayed on respective LATM ATMs in the Dominican Republic and Peru.
The joint venture leverages Euronet’s Ren payments platform and the company’s extensive portfolio of value-added ATM management services as well as Prosegur Cash’s customer-centric, on-the-ground operational services for cash management, end-to-end hardware services and facilities management.
“We are thrilled with the launch of our first markets with Independent ATM Networks in Latin America through our joint venture with Prosegur Cash,” said Nikos Fountas, Euronet EVP and CEO EFT Americas, Europe, Middle East and Africa. “This joint venture positions us for rapid growth in the region. We are confident that we will achieve a rapid pace of ATM deployment in these countries based on well-established local partnerships backed by our global processing centers. The deployment of our IAD in the region is also an excellent platform for providing ATM As-a-Service to banks and financial institutions.”
“The start of operations in Peru and the Dominican Republic represents the full and effective development of the agreement reached with Euronet and is a winning model which we will see soon in many more countries in the region,” said José Antonio Lasanta, CEO of Prosegur Cash, in welcoming the launch in the two countries.
About Prosegur Cash
Prosegur Cash is a company dedicated to cash logistics and cash management that covers the complete cash cycle. It employs around 45,000 people, in more than 31 countries, and in 2023, it obtained revenues of 1,861 million euros. Prosegur Cash is positioned as a global benchmark with a clear vocation for leadership. In addition, the company articulates its social commitment by working on ten of the seventeen Sustainable Development Goals of the United Nations in which it considers it can generate a positive impact.
Prosegur Cash is part of The Climate Pledge, an international alliance whose members have pledged to generate zero net carbon emissions by 2040. Prosegur Cash is listed on the Spanish stock exchanges under the symbol CASH.
For more information visit: www.prosegurcash.com
About Euronet
A global leader in payments processing and cross-border transactions, Euronet moves money in all the ways consumers and businesses depend upon. This includes money transfers, credit/debit processing, ATMs, point-of-sale services, branded payments, currency exchange and more. With products and services in more than 200 countries and territories provided through its own brand and branded business segments, Euronet and its financial technologies and networks make participation in the global economy easier, faster and more secure for everyone.
Starting in Central Europe in 1994, Euronet now supports an extensive global real-time digital and cash payments network that includes 55,248 installed ATMs, approximately 1,160,000 EFT point-of-sale terminals and a growing portfolio of outsourced debit and credit card services which are under management in 67 countries; card software solutions; a prepaid processing network of approximately 777,000 point-of-sale terminals at approximately 362,000 retailer locations in 64 countries; and a global money transfer network of approximately 607,000 locations serving 197 countries and territories with digital connections to 4.1 billion bank accounts and 3.1 billion digital wallet accounts. Euronet serves clients from its corporate headquarters in Leawood, Kansas, USA, and 67 worldwide offices. For more information, please visit the company's website at www.euronetworldwide.com.
Euronet Contact Stephanie Taylor +1-913-327-4200 Prosegur Contact prensa@prosegur.es
FAQ
What is the purpose of Euronet's LATM joint venture in Latin America?
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