Euronet Worldwide, Inc., Adds Eight More Banks to Its ATM Shared Network in Spain
On February 8, 2021, Euronet Worldwide (NASDAQ: EEFT) announced agreements with eight banks in Spain, including Bankinter and Grupo Cajamar, to join its ATM Network Participation Program. This initiative allows these banks’ customers to access Euronet’s extensive ATM network, enhancing customer reach without capital expenditures. The program underscores Euronet's strategy of expanding its ATM network and providing banks with operational efficiency through its REV Payments Cloud. This development signifies a commitment to modernizing payment solutions and improving consumer access to cash services across Spain.
- Expansion of ATM Network Participation Program in Spain with eight notable banks.
- Increased access for millions of cardholders to Euronet's extensive ATM network.
- Operational efficiencies for partner banks without requiring capital expenditure.
- Integration of innovative cash services such as cash deposits and contactless transactions.
- None.
LEAWOOD, Kan., Feb. 08, 2021 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (NASDAQ: EEFT), a leading global electronic payments provider, today announced agreements for ATM network participation services in Spain with the following eight banks: Grupo Caja Rural / Banco Cooperativo, Grupo Cajamar, Bankinter, Eurocaja Rural, EVO Banco, Triodos Bank, Caixa Guissona, and Laboral Kutxa.
Under terms of Euronet’s ATM Network Participation Program agreement, the company seamlessly integrates with each bank’s system, allowing the banks’ millions of cardholders to access Euronet’s thousands of ATMs in Spain on its nationwide ATM network. By joining the program, banks significantly increase their ability to reach customers through Euronet ATMs located at convenient high traffic locations as well as ATMs located in rural areas through the company’s ATMs for the Community initiative, which helps decrease “cash deserts” in the country.
Results from Euronet’s ATM Network Participation Program
The latest agreements are an indication of Euronet’s commitment to the strategy of shared independent ATM networks that focus on the expansion of the company’s ATM network to benefit both banks and the consumers.
Euronet has ATMs in approximately 30 countries with more than 40 network participation agreements in place, providing banks increased customer touch points without the need for capital expenditure. In addition, the banks entrust the ATM operations to Euronet’s globally recognized expertise that ensures efficiency, safety, and continuous investments and upgrades of the ATM estate. A bank’s brand also is visible throughout the ATM network in the country with the additional possibility of adapting bank-designed flexible marketing campaigns.
Consumers benefit through easy, convenient access to their cash on a 24x7 basis across the country while also enjoying innovative cash services, such as cash deposits, multicurrency dispenses, contactless features, card-less cash transactions, money transfers and many more options that can further enhance the participating banks’ offerings to their customers.
Euronet’s REV® Payments Cloud enables payments modernization
With the ATM Network Participation program, Euronet offers a solution to numerous banks who are strategically reviewing their ATM networks for operational efficiencies while also investigating ways to expand product offerings to customers.
The program is part of Euronet’s full scale ATM outsourcing services portfolio that covers the complete value chain of ATM operations, supported and centrally managed with the company’s REV® Payments Cloud (REV) and its core processing platforms and infrastructure.
REV is part of Euronet’s state of the art REN™ Ecosystem, which provides advanced payments processing and services with on-premise solutions or from a private cloud in Euronet’s worldwide data centers. The REN Ecosystem encompasses the latest in payments innovations and provides gateways to fintech products and services, advancing the company to the forefront of our industry. Bridging the gap between digital and physical transactions, Euronet’s omnichannel products and services and rapidly expanding alternative global payout capabilities provide unprecedented consumer choice.
Through the modular and API-driven architecture of REV, Euronet is in the position to quickly and seamlessly onboard banks in its ATM Network Participation Program, offering the highest security and availability standards. REV provides access to a solid infrastructure of payments solutions that enable banks to meet immediate needs with the flexibility to meet future growth. These services range from cash deposits to contactless and cardless transactions as well as digital product distribution from Euronet’s extensive REN Ecosystem partners that are suitable and attractive for the mobile-first consumer.
“We are excited with the expansion of our ATM Network Participation services in Spain, and welcome all of our new partners to Euronet’s Shared Network.” said Nikos Fountas, Executive Vice President and Chief Executive Officer, Euronet Americas and EMEA EFT Processing Segment.
“The new agreements proves our strategy of being a catalyst of ATM consolidation in the countries we operate, to the benefits of our partner banks and their customers. Across Europe, we experience and drive a wave of ATM innovations, and we are confident that this trend will further accelerate.
We have the technology, the resources, the knowledge and a solid value proposition that places us in the forefront of payments innovation, combining the physical and the digital world of payments.”
About Euronet Worldwide, Inc.
Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, cash-based and online-initiated consumer-to-consumer and business-to-business money transfer services, and electronic distribution of digital media and prepaid mobile phone time.
Euronet's global payment network is extensive - including 43,956 ATMs, approximately 324,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 61 countries; card software solutions; a prepaid processing network of approximately 717,000 POS terminals at approximately 328,000 retailer locations in 55 countries; and a global money transfer network of approximately 447,000 locations serving 159 countries. With corporate headquarters in Leawood, Kansas, USA, and 66 worldwide offices, Euronet serves clients in approximately 175 countries. For more information, please visit the Company's website at www.euronetworldwide.com
About Euronet’s Bank Partners
Triodos Bank N.V. is a bank based in the Netherlands with branches in Belgium, Germany, France, United Kingdom and Spain. It was founded in 1980 with a mission to 'help create a society that protects and promotes quality of life and human dignity for all' by means of ethical banking.
Bankinter, S.A., is the sixth largest bank in the Spanish financial system, the fifth in terms of market capitalization, and it has the highest profitability of all the listed banks in Spain. With assets worth 96,252 million euros, loans and receivables to the tune of 64,384 million euros and 101,853 million euros in controlled funds, Bankinter also operates in Portugal, Ireland and Luxembourg.
EVO Banco is a top player in the Spanish digital banking sector, born as a commercial brand in 2012. After being acquired in 2019, EVO Banco became Bankinter’s
Caja Rural and Banco Cooperativo Español, Caja Rural is one of the main banking groups operating in Spain. It has more than 2,300 branches and 9,000 employees throughout the country. Currently, the Caja Rural Group is made up of 29 Cajas Rurales. Banco Cooperativo Español, in addition to being the central bank of the Rural Savings Banks, acts as their representative body before public and private bodies and institutional forums.
Cajamar, is the benchmark cooperative financial group in the Spanish financial system. It is made up of the Banco de Crédito Social Cooperativo and 18 national, county and local credit cooperatives that provide financial services to 3.5 million clients in Spain.
Eurocaja Rural, is a credit cooperative, one of the largest Cajas Rurales in Spain and is present in Castilla-La Mancha, Madrid, Ávila and the Valencian Community. It was founded in 1965 in Toledo, where its Central Services are located at Calle Méjico, 2, in the capital of Castilla-La Mancha.
Caixa Guissiona, officially Caixa Rural de Guissona, is a Spanish cooperative credit society with headquarters in the town of Guisona, Lleida, founded in 1963. It has branches in Barcelona, Guisona, Lleida and Reus. The entity is part of the BonÀrea Agrupa business group.
Laboral Kutxa, is a credit cooperative born from the merger between Caja Laboral (also known as Euskadiko Kutxa) and Ipar Kutxa. It was originally founded in 1959 with the aim of promoting popular savings and channeling those economic resources towards the development of cooperative enterprises that had begun to flourish in the Alto Deva region of Gipuzkoa.
