Euronet Worldwide’s epay division successfully drives global expansion of subscription payment products through its new recurring billing platform

Rhea-AI Summary

epay has launched a new recurring billing solution for subscription-based products like Microsoft 365 and Xbox Game Pass Ultimate across multiple continents. This platform enables global brands and retailers to generate recurring revenue and simplifies payment processing through epay’s technology. Retailers can connect effortlessly to epay’s tech to access various digital products, enhancing customer purchase options. With established launches in regions including Europe and Asia, epay aims to expand this solution further, responding to the growing trend of subscription-based business models in diverse industries.

Positive

• Expansion of subscription-based offerings for Microsoft 365, Xbox Game Pass Ultimate, and Xbox All Access.
• Simple implementation process through epay's technology platform enhances retailer capabilities.
• Access to epay's global sales network allows brands to reach a wider consumer base.
• Recurring revenue model supports growth for channel partners and retailers.

Negative

• None.

• epay launches its new recurring billing solution in several countries worldwide
• The new solution offers subscription-based and buy-now-pay-later payments for products such as Microsoft 365, Xbox All Access and Xbox Game Pass Ultimate
• Easy to implement, the solution requires epay’s global network of retailers, telcos and mobile wallets to make just a single connection to the company’s technology platform to access and distribute the new subscription products
  

LEAWOOD, Kan., Nov. 10, 2021 (GLOBE NEWSWIRE) -- epay, the digital payments processing business segment of global financial technology solutions and payments provider Euronet Worldwide, Inc. (NASDAQ: EEFT), today announced multiple launches for its new recurring billing solution consisting of subscription products for Microsoft 365, Xbox Game Pass Ultimate, and Xbox All Access in North and South America, Europe, Asia and Australia¹. The new recurring billing platform enables companies and brand partners worldwide to easily offer their digital products with subscription-based pricing while expanding the capabilities of epay’s digital content portfolio.

epay’s new solution empowers retailers, telcos and brands to generate recurring revenue from products that were previously sold in one transaction while benefiting all participants of the sales channel accordingly:

• Brands with digital products gain access to epay’s global sales channel network partners and their reach to consumers.
• Channel partners now can utilize epay’s connectivity to its providers and strategic partners such as Microsoft to immediately expand their product portfolio with new attractive subscription products for their customers.
• Consumers can now purchase subscription-based digital products from their trusted and preferred channel partner and conveniently use them on a smartphone, laptop or PC.
  

Simple technical implementation with state-of-the-art API
Leveraging the technologies and APIs of Euronet’s REN payments platform, epay processes digital payments, manages value-added services such as gift cards and mobile top-ups and also distributes its digital content portfolio of many well-known brands through its global retailer network that occupies 739,000 POS. Once the epay interface has been established at the retailer, a channel partner can add additional brands from epay’s portfolio as they become available and other epay value-added services such as its gift card portfolio.

How the epay recurring billing solution works:

• Channel partners offer a subscription-based product to customers and record their preferred payment method.
• epay either connects to the retailer’s existing payment infrastructure or facilitates recurring billing through payment tokenization.
• At the end of the initial subscription period, the renewal is triggered by the brand or channel partner via the tokenized data without having to store and process sensitive personal data.
  

Market launches completed with the recurring billing solution to date include:

• Microsoft 365: Launched at leading channel partners in France with FNAC, in the United Kingdom with Currys and in Brazil with Vivo.
• Cloud Gaming with Xbox Game Pass Ultimate: Launched in Korea at channel partner SK Telecom, in Spain with Telefonica and in Australia with Telstra.
• Xbox All Access: Launched in Poland with electronics retailer Media Expert and with telco partners Telstra in Australia and SK Telecom in Korea.
  

Further countries and retailers are already being planned and will be announced when available.

“Subscription-based business models are the future of many companies because they support growth and digital transformation at the same time,” said Kevin Caponecchi, Executive VP and CEO, epay, Software and EFT Asia Pacific Division. “The current pioneers from the software, streaming and gaming sectors will soon be joined by a wide range of new providers from beauty, fashion, food and other industries. With our existing connections to over a thousand brands across a wide range of industries and our innovative technology which allows us to distribute products globally through our extensive retailer network, we will soon be able to offer further recurring billing solutions from many more consumer areas. This solution is an important strategic business area that we intend to expand globally.”

Companies and brands interested in learning more should talk to their existing epay contact or James Warden, Director of Brand Management and epay Products, at jwarden@epayworldwide.com.

¹ Multiple launches for the recurring billing solutions of Microsoft 365, Xbox Game Pass Ultimate, and Xbox All Access in North and South America, Europe, Asia and Australia does not mean that all named products are available in all of the named regions. Additionally, any future launches are subject to the requirements and approval of epay and the brand.

About epay:
epay is a world-leading full-service payment provider for payment processing and prepaid solutions that processed 2.4 billion transactions in 2020. The company has built up an extensive network of retailers with 739,000 point-of-sale terminals in 62 countries, to connect renowned brands with consumers all around the world. The company offers a portfolio of gift cards (prepaid, closed loop and digital media), business incentives and payment solutions (card acceptance, terminals, e-commerce, mobile and Internet of Payment) for omnichannel commerce, and offers its services thanks to its proprietary cash register integration software. epay is a segment of Euronet Worldwide, Inc. (NASDAQ: EEFT), a Kansas-based company which earned $2.5 billion in revenue in 2020, employing a staff of over 8,000 employees and serving customers in 175 countries.

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 47,474 ATMs, approximately 400,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 62 countries; card software solutions; a prepaid processing network of approximately 739,000 POS terminals at approximately 325,000 retailer locations in 62 countries; and a global money transfer network of approximately 507,000 locations serving 162 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.

FAQ

What is the new recurring billing solution by epay?

epay's new recurring billing solution allows retailers and brands to offer subscription-based products like Microsoft 365 and Xbox Game Pass Ultimate, creating opportunities for recurring revenue.

In which regions has epay launched its recurring billing solution?

epay has launched its recurring billing solution in North and South America, Europe, Asia, and Australia.

What are some products included in epay's new subscription offerings?

The new offerings include Microsoft 365, Xbox Game Pass Ultimate, and Xbox All Access.

How does epay's recurring billing solution benefit retailers?

Retailers benefit by accessing an expanded product portfolio, generating recurring revenue, and connecting easily to epay's technology platform.

What is the significance of recurring billing for businesses?

Recurring billing models are increasingly vital for businesses as they support stable growth and adapt to digital transformation trends.