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Euronet Worldwide

#2987

Rank

$4.33B

Marketcap

US United States

Country

Euronet Worldwide
Leadership team

Mr. Michael J. Brown M.Sc., MSc (Chairman, CEO & Pres)

Mr. Rick L. Weller (Exec. VP, Chief Accounting Officer & CFO)

Mr. Kevin J. Caponecchi (Exec. VP and CEO of epay, Software & EFT Asia Pacific Division)

Products/ Services
Finance, Financial Services
Number of Employees
1,000 - 20,000
Headquarters
Leawood, Kansas, United States
Established
2010
Company Registration
SEC CIK number: 0001029199
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
EEFT
Social Media
Overview
Location
Summary
Euronet Worldwide, Inc. provides payment and transaction processing and distribution solutions to financial institutions, agents, retailers, merchants, content providers, and individual consumers worldwide. The company's Electronic Fund Transfer Processing segment provides electronic payment solutions, including automated teller machine (ATM) cash withdrawal and deposit services, ATM network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit card outsourcing, card issuing, and merchant acquiring services. It also offers ATM and POS currency conversion, ATM surcharge, advertising, customer relationship management, mobile top-up, bill payment, fraud management, foreign remittance and cardless payout, banknote recycling, and tax-refund services; and integrated electronic financial transaction software solutions, as well as delivers non-cash products. This segment operates a network of 51,062 ATMs and approximately 569,000 EFT terminals. Its epay segment distributes and processed prepaid mobile airtime and other electronic payment products; and provides payment processing services for various prepaid products, cards, and services, as well as vouchers and physical gift fulfillment, and gift card distribution and processing services. This segment operates a network of approximately 762,000 POS terminals. The company's Money Transfer segment offers consumer-to-consumer and account-to-account money transfer, customers bill payment, check cashing, foreign currency exchange, mobile top-up, and cash management and foreign currency risk management services, as well as payment alternatives, such as money orders and prepaid debit cards. This segment operates a network of approximately 504,000 money transfer locations. The company was formerly known as Euronet Services, Inc. and changed its name to Euronet Worldwide, Inc. in August 2001. Euronet Worldwide, Inc. was founded in 1994 and is headquartered in Leawood, Kansas.
History

The company was founded in 1994 by brothers-in-law Dan Henry and Mike Brown and headquartered in Leawood, Kansas. In 1998, Euronet purchased ARKSYS, a computer software company that specialized in electronic payment and transaction delivery systems. On January 23, 2002, Euronet Worldwide announced the formation of a joint venture with Hong Kong-based First Mobile Group Holdings Limited.In April 2014, Walmart started offering a store-to-store money transfer service, partnering with Euronet's subsidiary Ria Money Transfer. Walmart2Walmart allows shoppers to transfer money to and from 4,000 Walmart stores in the U.S. In 2016, the program was expanded into the global money transfer service market with Walmart2World.In June 2015, subsidiary Ria Money Transfer entered the Middle East remittance market with the buyout of money transfer provider, IME. In February 2020, Ria opened its first retail store in Singapore, allowing customers to transfer money at foreign exchange rates. In May 2020, Ria announced an expansion of their money transfer mobile app to European customers. In July 2020, OXXO, the largest chain of convenience stores in Latin America, partnered with Euronet’s Ria Money Transfer to begin offering money transferring services within their stores.In December 2018, Euronet signed an agreement with Mozambique to provide software for the nation's financial system. Under the agreement, Euronet supports transaction processing services, connections to major card associations, ATM and Point of Sale device driving, card issuing, mobile recharge, bill payments, and digital wallets, among other services.Euronet launched REN Foundation, a program that allows payment processors to add updated payment technology without having to replace existing hardware and software. The program allows banks and other payment service providers to adopt new technologies as they become available. The country of Mozambique switched its entire payment systems to run on Euronet’s REN Foundation program.In January 2020, Euronet partnered with Standard Chartered to allow international ATM users to pay in their own currency rather than the local currency using a dynamic currency conversion service. The ATM service will be provided in countries across Asia Pacific and the Middle East. That same month, Euronet began offering a recurring billing service to allow monthly payments for AppleCare products. Euronet also entered an agreement with AMBER Alert Europe in January 2020 to publish active missing child alerts on ATM screens. The next month, Euronet partnered with Amazon India to provide add-on payment services to Amazon’s mobile wallet platform.In September 2020, Euronet’s epay entered an agreement with Microsoft to manage monthly recurring billing for select retailers within the mobile gaming market.In December 2020, Euronet purchased 700 non-branch ATMs from the Bank of Ireland.

Acquisitions

e-pay, Ltd., February 2003, an electronic payments processor of prepaid mobile airtime top-up services in the U.K. and Australia. This added a prepaid processing division to Euronet that grew with the September 2003 purchase of Austin International Marketing and Investments, Inc. , a U.S. based company, and the acquisition of the German company transact Elektronische Zahlungssysteme GmbH in November 2003.Ria Money Transfer, 2007, a global money transfer company with a network of agents and company-owned stores in North America, the Caribbean, Europe and Asia. In June 2015, Ria entered the Middle East remittance market with the buyout of money transfer provider, IME.Pure Commerce, 2013, giving it access to a suite of SaaS based applications.HiFX, May 2014, a UK-based international payments provider giving it access to cross border payment business in the UK, Australia and New Zealand. This acquisition allowed Euronet to offer international payment services between accounts for high-income individuals and small-to-medium-sized businesses.xe.com, July 2015, a provider of digital foreign exchange rate information, bringing Euronet a large internet presence and users familiar with foreign currency.Innova, April 2018, which would allow Euronet to provide value-added tax refunds to its customers.Dolphin Debit, April 2020, a U.S. based ATM outsourcing company. Euronet operates ATM outsourcing services worldwide, but the 2020 acquisition allows the company to expand its outsourcing services to the U.S. for the first time.

Mission
Euronet Worldwide, Inc. was founded in 1994 with a mission to bring electronic financial payment convenience to millions of people in emerging and developed markets around the world.
Vision
Euronet’s vision is to become the world's largest and most trusted provider of payment and transaction processing services.
Key Team

Mr. Juan C. Bianchi (Exec. VP & CEO of Money Transfer Segment)

Mr. Nikos Fountas (Exec. VP and CEO of EFT Europe, Middle East & Africa Division)

Desmond Acosta (Deputy Gen. Counsel)

Dr. Martin L. Bruckner (Sr. VP & Chief Technology Officer)

Mr. Scott D. Claassen (Gen. Counsel & Sec.)

Ms. Stephanie Taylor (Director of Financial Planning & IR)

Ms. Karyn Clewes Zaborny (Sr. VP, HR)

Recognition and Awards
Euronet has been recognized for its achievements in the payments industry. In 2020, Euronet was listed on the prestigious FinTech 100 list of best-in-class financial technology companies. The company has also been selected as the "Best Payment Processor" award by the Asia-Pacific Banking & Finance Magazine in 2020.
References
Euronet Worldwide
Leadership team

Mr. Michael J. Brown M.Sc., MSc (Chairman, CEO & Pres)

Mr. Rick L. Weller (Exec. VP, Chief Accounting Officer & CFO)

Mr. Kevin J. Caponecchi (Exec. VP and CEO of epay, Software & EFT Asia Pacific Division)

Products/ Services
Finance, Financial Services
Number of Employees
1,000 - 20,000
Headquarters
Leawood, Kansas, United States
Established
2010
Company Registration
SEC CIK number: 0001029199
Net Income
100M - 500M
Revenue
Above - 1B
Traded as
EEFT
Social Media