Euronet Worldwide, Inc., Launches Modernization Solution for Mozambique’s National Payments Network With the REN™ Foundation

Rhea-AI Summary

Euronet USA, a division of Euronet Worldwide (NASDAQ: EEFT), has launched the REN™ Foundation solution for Banco de Moçambique via Sociedade Interbancária de Moçambique (SIMO). This initiative modernizes Mozambique's national payment network, enhancing SIMO's ability to provide innovative payment solutions. The REN™ Foundation includes services like mobile top-ups and digital wallets, supporting various transaction methods. Despite challenges posed by the pandemic, Euronet successfully met its 2020 launch objectives, showcasing its remote project management capabilities.

Positive

• Launch of REN™ Foundation enhances payment solutions for Banco de Moçambique.
• Modernization of Mozambique's national payment network can attract more users.
• The solution includes diverse services such as mobile top-ups and digital wallets.

Negative

• None.

LITTLE ROCK, Ark., Nov. 02, 2020 (GLOBE NEWSWIRE) -- Euronet USA, LLC, a division of Euronet Worldwide Inc. (NASDAQ: EEFT), recently launched its REN™ Foundation solution for Banco de Moçambique. Delivered through Sociedade Interbancária de Moçambique (SIMO), the REN™ Foundation modernizes Mozambique's national payment network and will help SIMO offer innovative payment solutions to member banks and their customers.

Rob Brakensiek, Vice President of Implementations and Project Services at Euronet Software Solutions, said about the launch, "The pandemic certainly presented unique challenges to our delivery timeline, primarily in the lost opportunity to be onsite. However, as a global company with decades of implementation of software solutions, Euronet was well prepared to manage this critical project remotely and met our original objectives of going live in 2020."

The REN™ Foundation, a collection of platforms from Euronet’s larger REN™ Ecosystem of payments solutions, is tailored to meet SIMO's needs and supports transaction processing services, connections to major card associations, ATM and POS device driving, and card issuing. The REN™ Foundation will provide member banks with an extensive collection of services, including mobile top-up, bill payments, and digital wallets using traditional payment methods and new and emerging alternative payment technologies.

For more information about REN™ Foundation and how to incrementally modernize your payments solutions, visit https://www.euronetworldwide.com/ren-foundation/

About Euronet Worldwide
Euronet USA, LLC, headquartered in Little Rock, Arkansas, USA, is a wholly owned subsidiary of Euronet Worldwide, Inc., a U.S. based company. Euronet Worldwide is an industry leader in processing secure electronic financial transactions, offering payment and transaction processing solutions to financial institutions, retailers, service providers, and individual consumers. Euronet serves clients in approximately 170 countries. For more information, please visit the Company's website at www.euronetworldwide.com.

Contact
Randall Hula
Euronet USA, LLC
+1-501-218-7266

FAQ

What is Euronet's recent launch regarding Banco de Moçambique?

Euronet has launched the REN™ Foundation solution for Banco de Moçambique, enhancing their payment capabilities.

How does the REN™ Foundation improve payment services?

It modernizes the national payment network and facilitates services like mobile top-ups and digital wallets.

What challenges did Euronet face during the REN™ Foundation launch?

The pandemic presented challenges, particularly the inability to be onsite during implementation.

When was the REN™ Foundation launched?

The REN™ Foundation was launched in 2020.

What company is responsible for the REN™ Foundation solution?

Euronet USA, a division of Euronet Worldwide, is responsible for the REN™ Foundation.