Welcome to our dedicated page for Euronet Worldwide news (Ticker: EEFT), a resource for investors and traders seeking the latest updates and insights on Euronet Worldwide stock.
Euronet Worldwide Inc (NASDAQ: EEFT) is a global leader in processing secure electronic financial and payment transactions. The company operates through three main segments: EFT Processing, epay, and Money Transfer. Euronet provides its services to a wide range of clients including financial institutions, mobile operators, merchants, and money transfer sending and receiving agents.
In the EFT Processing segment, Euronet manages one of the largest independent ATM networks in Europe and the largest shared ATM network in India. The company generates revenue from ATM management fees and currency conversion transactions, providing convenience and accessibility to customers.
The epay segment focuses on electronic distribution of prepaid mobile airtime and other prepaid products. Euronet is recognized as the world's largest processor of prepaid mobile airtime, serving a vast global market.
The Money Transfer segment continues to grow, making Euronet the third-largest global money transfer company. The company facilitates secure and efficient money transfers across various countries, ensuring reliable service for users worldwide.
Euronet's proprietary software offers comprehensive solutions tailored to leading financial institutions around the globe. Its technology enhances the capabilities of financial services, supporting eCommerce transactions and more.
With extensive operations across the United States, Europe, the Middle East, and Asia-Pacific, Euronet effectively caters to both emerging and established markets. Recent achievements include expanding their IAD ATM network to 32 European countries and 38 countries globally, and acquiring 800 ATMs in Malaysia, solidifying its position as the largest non-bank ATM operator in the country.
Latest News:
- The company’s IAD ATM network footprint now includes 32 countries in Europe and 38 countries globally.
- Euronet reports the following consolidated results for the full year 2023 compared with the same period of 2022.
- Technology addition to bolster the capabilities of Euronet’s Ren payments platform with issuing and acquirer processing of eCommerce transactions.
- 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.
- Euronet will acquire about 800 ATMs, making it the largest non-bank ATM terminal operator in Malaysia. For more information, please visit www.paynet.my.
With a commitment to secure and efficient electronic payment solutions, Euronet Worldwide Inc continues to lead and innovate in the financial transaction processing industry.
Euronet Worldwide (NASDAQ: EEFT) has significantly expanded its Renewal recurring billing solution to 14 countries, including Australia, the UAE, Germany, and Singapore. This digital payments service allows retailers to convert one-time transactions into subscription models, increasing revenue for brand partners. With over 760,000 point-of-sale terminals in 63 countries, Renewal provides a streamlined approach for brands and consumers alike. The company processed 3.12 billion transactions in 2021, showcasing its extensive reach and robust market presence.
Euronet Worldwide's Ria Money Transfer has partnered with Rebtel to integrate international money transfer services into Rebtel's platform, enhancing accessibility for customers to send money to over 170 countries. This partnership addresses the needs of the global migrant population, estimated at 280 million. With the remittance industry valued at over 600 billion dollars, the collaboration aims for growth in underserved markets. Rebtel plans to expand its services from the US to more regions, leveraging Euronet's Dandelion network.
Euronet Worldwide (NASDAQ: EEFT) reported Q1 2022 revenues of $718.5 million, up 10% from Q1 2021. Operating income reached $36.7 million, a significant 253% increase. Adjusted EBITDA rose to $79.5 million, reflecting a 52% growth. Net income was $8.2 million or $0.17 per share, compared to a net loss of ($8.7 million) last year. The company anticipates Q2 2022 adjusted EBITDA between $150 million to $160 million. Despite challenges from geopolitical events and inflation, Euronet maintains an optimistic outlook due to its diverse product portfolio.
Ria Money Transfer, a segment of Euronet Worldwide (NASDAQ: EEFT), announced an expanded partnership with Save the Children to support emergency appeals for Ukrainian children and long-term education initiatives in Mexico and the Philippines. Ria will utilize its global network of 500,000 locations for donation collection and fund programs like 'Words that Emerge' in Mexico, aiding over 2,000 children, and 'Safe Back to School' in the Philippines, benefiting nearly 9,000 displaced children. This collaboration aims to drive positive change in education and welfare post-COVID.
Euronet Worldwide (NASDAQ: EEFT) will announce its Q1 2022 earnings results on April 27, 2022, before the market opens. A conference call will follow at 9:00 a.m. ET to discuss the results. Interested participants can access the call through a webcast or by telephone. Notably, Euronet is a leading global provider of financial technology solutions, with extensive operations, including over 48,000 ATMs and 510,000 money transfer locations in 165 countries.
Epay, a segment of Euronet Worldwide (NASDAQ: EEFT), has integrated Alipay+ for in-store cross-border mobile payments at Müller drugstores in Europe. This integration connects Müller with over one billion Alipay+ users and offers access to Asia’s leading digital wallets. The solution enhances payment diversity, allowing retailers to adapt to changing consumer needs without significant costs. Epay's cash register integration enables retailers to offer various payment methods seamlessly.
Alipay+ is designed to improve customer satisfaction by offering preferred payment options, marking a significant step for Müller in addressing its international customer base.
Euronet Worldwide (NASDAQ: EEFT) has entered a strategic partnership with Marker Trax, gaining minority ownership in this fintech firm. Marker Trax is transforming the gaming industry with a digital casino marker system that enhances the user experience across casinos in North America, which are projected to generate over $100 billion in 2022. The partnership aims to leverage Euronet's REN payments platform to facilitate rapid adoption in over 150 casinos and improve operational efficiency. The Marker Trax solution streamlines casino markers into a cashless, regulatory-compliant digital option, increasing convenience and tracking capabilities.
Euronet Worldwide, Inc. (NASDAQ: EEFT) has completed its acquisition of the Piraeus Bank Merchant Acquiring (PBMA) business in Greece, which includes 205,000 POS terminals at 170,000 merchants. This acquisition grants Euronet significant market presence, covering 20% of in-store and 40% of online transactions in Greece. In a long-term partnership with Piraeus Bank, Euronet will enhance service capabilities using its REN payments platform while aiding the bank's operational needs. The Greek market is projected to see its merchant acquiring volume double by 2031, positioning Euronet for substantial growth.
Euronet Worldwide, Inc. (NASDAQ: EEFT) has been added to the Federal Reserve's FedNow Service Provider Showcase, emphasizing its REN payments platform. This platform facilitates real-time payments for financial institutions adopting the FedNow Service, set to launch in 2023. Key offerings include a low-code development environment for banks, digital payment services like bill payments, and access to Euronet’s Dandelion network for cross-border transactions. This strategic move aims to enhance the payment experiences for customers while meeting increasing market demands.
Euronet Worldwide (NASDAQ: EEFT) announced fee waivers on financial services for Ukrainian citizens amid the ongoing conflict. Ukrainian cardholders can withdraw cash from Euronet ATMs in several countries without incurring fees. Additionally, Euronet's Ria Money Transfer will waive sending fees for transfers to Ukraine and Poland until the end of March. The company will also support Save the Children by collecting donations for Ukrainian children affected by the crisis. Euronet emphasizes its commitment to assist those impacted while complying with international economic sanctions.
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