Euronet and SOFTONE Group Announce Agreement to Provide Integrated Merchant Acquiring Services in Greece

Rhea-AI Summary

Euronet and SOFTONE Group have announced a partnership to provide integrated merchant acquiring services in Greece, combining their customer base of over 285,000 merchants. This collaboration aims to offer cost-effective solutions for online and brick-and-mortar merchants by integrating SOFTONE's ERP solutions, enterprise mobility applications, and retail and restaurant management solutions with Euronet's merchant acquiring platform. The partnership is part of Euronet's global expansion strategy to strengthen its market presence in existing markets and expand to new territories, while SOFTONE aims to provide innovative cloud-based software solutions to drive sustainable growth for businesses in Greece and Southeast Europe.

A comprehensive offering will be available to the companies’ combined customer base of more than 285,000 merchants as well as the broader Greek market

LEAWOOD, Kan., April 22, 2024 (GLOBE NEWSWIRE) -- Euronet (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, and SOFTONE Group, one of the largest cloud-based business software providers in Greece and Southeast Europe, announced today that they are partnering to deliver integrated merchant acquiring solutions in Greece.

The partnership involves SOFTONE integrating its leading brands and products (ERP solutions, enterprise mobility applications and retail and restaurant management solutions) with Euronet's merchant acquiring platform. This integration will offer a wide range of cost-effective solutions for online and brick-and-mortar merchants, covering Euronet’s 210,000 merchants and SOFTONE’s 75,000 enterprises. The partnership aims to expand and deepen relationships with businesses of all sizes, strengthening both companies' market presence and footprints.

The announcement follows a series of recent Euronet Merchant Services partnerships and product development initiatives aiming to innovate and enable 360-degree business solutions in the evolving Greek payments landscape. The government-backed Electronic Cash Register (ECR) payment device integration initiative is an opportunity to enhance the overall consumer experience at the point of sale and streamline retailers’ business operations. SOFTONE's state-of-the-art, cloud-based business software solutions, combined with Euronet’s Ren payments technology platform, offer an end-to-end solution to merchants with diverse business profiles and sizes.

This partnership agreement directly aligns with Euronet’s global expansion strategy, which includes strengthening its presence in existing markets and expanding to territories outside of Europe with a diversified go-to-market strategy that includes strategic agreements with leaders in specific industry segments.

“We are excited with the agreement with SOFTONE, the leading ERP/CRM solutions provider in Greece,” said Nikos Fountas, Executive Vice President, and Chief Executive Officer, Euronet Americas and EMEA EFT Division. “This partnership will enhance our merchant relationships by offering our business customers a frictionless integration experience. With SOFTONE, we further strengthen our presence in Greece, reaching more customers and offering complementary payment solutions to drive their growth. The agreement proves that our Euronet Merchant Services strategy in Greece, which started with the acquisition of the Piraeus Bank merchant acquiring business unit in March 2022 and progressed with significant organic growth and strategic agreements, is spot on. We look forward to expanding the collaboration beyond Greece to the international markets where both companies operate.”

SOFTONE Group CEO Panos Martinis stated, "At SOFTONE, we constantly seek innovative ways to provide our customers with interconnected platforms that drive their sustainable growth. Our partnership with Euronet marks yet another milestone in our journey to lead the integration of cutting-edge cloud-based software with payment solutions in Greece and Southeast Europe. Partnering with a global leader in fintech solutions and payments unlocks new possibilities for our mutual customers, enabling them to streamline their payment processes and offering them new value, maximizing services over one platform that manages operations and payments. We are excited to embark on this journey with Euronet and look forward to continuously expanding the partnership."

About SOFTONE Group

SOFTONE Group is one of the largest cloud-based business software providers in Greece and SE Europe that includes nine leading brands (SoftOne, UNISOFT, PROSVASIS, Regate, IMPACT, cosmoONE, Global Sustain, Sunsoft, Twinsoft) and currently employs more than 680 technology and business professionals.

SOFTONE focuses on the development of business and accounting software solutions, innovative cloud services, enterprise mobility applications, electronic invoicing, procurement solutions and ESG solutions, having earned numerous awards and distinctions for their innovation and contribution in supporting the digital transformation process of companies.

The Group’s applications and solutions are used by more than 75,000 enterprises in Greece and several international markets (Cyprus, Romania and Bulgaria), and they are supported through a wide Channel Partners Network (600+). Following its ongoing strategic commitment to innovation and powered by cutting-edge cloud technologies, SOFTONE Group is today the undisputed leader in the Greek cloud-based solutions market and a decisive player in Southeast Europe with more than 50,000 cloud (SaaS) installations. Additionally, SOFTONE Group is the largest e-invoicing, supply chain and B2B solutions provider in Greece. The high adoption of the Group’s product and services portfolio has formed the largest ecosystem of B2B solutions in the Greek market, interconnecting more than 350,000 companies.

Leading the advances in digital transformation, SOFTONE Group's priority and commitment is the ongoing investment in cutting-edge solutions that yield businesses high added value at low cost, making digital transformation affordable and feasible for any enterprise.

About Euronet

Starting in Central Europe in 1994 and growing to a global real-time digital and cash payments network with millions of touchpoints today, Euronet now 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.

A leading global financial technology solutions and payments provider, Euronet has developed an extensive global payment network that includes 52,652 installed ATMs, approximately 656,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 66 countries; card software solutions; a prepaid processing network of approximately 821,000 POS terminals at approximately 352,000 retailer locations in 62 countries; and a global money transfer network of approximately 580,000 locations serving 198 countries and territories. 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
Director of Financial Planning and Investor Relations
+1-913-327-4200

FAQ

What is the partnership between Euronet and SOFTONE Group about?

Euronet and SOFTONE Group have partnered to provide integrated merchant acquiring services in Greece by combining their customer base of over 285,000 merchants.

What products and solutions will be integrated as part of the partnership?

As part of the partnership, SOFTONE's leading brands and products, including ERP solutions, enterprise mobility applications, and retail and restaurant management solutions, will be integrated with Euronet's merchant acquiring platform.

How many merchants will be covered by the partnership?

The partnership will cover Euronet's 210,000 merchants and SOFTONE's 75,000 enterprises, offering a wide range of cost-effective solutions for online and brick-and-mortar merchants.

What is the goal of the partnership between Euronet and SOFTONE Group?

The partnership aims to expand and deepen relationships with businesses of all sizes, strengthen market presence, and offer complementary payment solutions to drive growth.

What is Euronet's global expansion strategy?

Euronet's global expansion strategy includes strengthening its presence in existing markets and expanding to new territories with a diversified go-to-market strategy that includes strategic agreements with industry leaders.

How does the partnership benefit customers?

The partnership between Euronet and SOFTONE Group enables customers to streamline payment processes, maximize services over one platform, and drive sustainable growth through innovative cloud-based software solutions.