Euronet Worldwide to Deploy REN Foundation for Connected Processing Services, LLC

Rhea-AI Summary

Euronet USA, a division of Euronet Worldwide (NASDAQ: EEFT), has entered a 10-year partnership with Connected Processing Services to enhance transaction processing services. Utilizing Euronet's REN Foundation software, the collaboration aims to improve payment processing and digital wallet management for over 100,000 ATMs across the U.S.

Both companies expect this partnership will provide flexible solutions to meet evolving business needs, allowing Connected to capture more market share and streamline operations.

Positive

• 10-year partnership with Connected Processing Services to enhance transaction processing.
• Utilization of REN Foundation allows management of digital wallets and support for various payment types.
• Potential to enhance services for over 100,000 ATMs in the U.S.
• Flexibility of REN Foundation meets current and future needs of Connected Processing Services.

Negative

• None.

LITTLE ROCK, Ark., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Euronet USA, LLC, a division of Euronet Worldwide Inc. (NASDAQ: EEFT), recently announced a 10-year partnership with Connected Processing Services, LLC of Dallas, Texas (Connected). Connected will utilize Euronet’s REN Foundation software to provide a superior level of transaction processing services to its customers.

Tom Kleinsorge, Vice President of Global Software Sales at Euronet Software Solutions, said about the partnership, “We are delighted to partner with Connected. By leveraging our REN solution for payments processing, Connected will be able to offer its customers the most reliable experience and enhance the services they can offer their Independent ATM deployers.”

REN Foundation manages all traditional and digital payment types, including digital-to-cash, cash-to-digital, card-based, dynamic digital codes, cross-border, and real-time payments. Connected will utilize REN Foundation to power intelligent processing services, manage digital wallets, and drive over 100,000 ATMs across the United States.

Connected was interested in a partner capable of adapting to the long-term as their business grew, and they found that with Euronet’s REN Foundation. This solution will address the current needs of Connected while offering the flexibility to meet future requirements.

Commenting on the collaboration, Paul Winters, Vice President of Operations at Connected Processing, said, “This is an amazing partnership and opportunity that allows Connected to offer the speed and forward-thinking options and services our clients and their customers are wanting. This partnership will help our customers move into the future of payments and transaction processing such as real time payments, digital wallets, and other cloud-available services. Euronet and the REN Foundation exceeds what is available on the market and gives Connected a huge advantage to capture more market share in the near term while also pursuing new business opportunities through the expertise of Euronet and its global APIs for processing any transaction. This partnership meets our needs of flexibility and a more streamlined process for ease of use for Connected and our downstream relationships.”

For more information about REN Foundation and how to incrementally modernize your payments solutions, visit us at: 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. The Company offers 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.

About Connected Processing Services
Connected Processing Services, LLC, headquartered in Dallas, TX is the only processor that offers full scale state of the art CRM and ATM Terminal Management solutions along with ATM and payment transaction processing and full Turnkey e-commerce solution for ISO/IADs. www.connectedps.com

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

Contact
Roger Myers
Connected Processing Services, LLC
+1-833-226-6328

FAQ

What is the recent partnership announced by Euronet USA?

Euronet USA has announced a 10-year partnership with Connected Processing Services to leverage Euronet's REN Foundation software for enhanced transaction processing.

How will Euronet's REN Foundation benefit Connected Processing Services?

The REN Foundation will enable Connected to manage digital wallets and improve processing for a large network of ATMs, enhancing service offerings.

What types of payment does the REN Foundation manage?

The REN Foundation manages traditional and digital payments, including cash-to-digital, digital-to-cash, cross-border, and real-time payments.

How many ATMs will be affected by the Euronet and Connected partnership?

The partnership aims to enhance services for over 100,000 ATMs across the United States.

What market advantage does this partnership offer Connected Processing Services?

The partnership provides Connected Processing Services the ability to capture more market share through advanced payment processing solutions.