Euronet Expands Independent ATM Network Into Belgium and Mexico
Source: GlobeNewswireLEAWOOD, Kan., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Euronet (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, today announced the further expansion of its independent ATM network (IAD) with new launches in Belgium and Mexico, increasing its global ATM footprint to 38 countries across Europe, Asia Pacific, Africa and the Americas.
Belgium is the 32nd European country in the company’s IAD network, strengthening Euronet’s presence and leadership position in the region. The company’s independent ATMs in Mexico signify Euronet’s entry into the emerging LATAM market, and this is the first step towards an accelerated expansion strategy in the region.
The announcement follows a series of global ATM expansion initiatives for Euronet in recent years, including new IAD deployments in Europe (Iceland, the Baltics, Norway and Montenegro), Northern Africa (Morocco and Egypt) and Southeast Asia (Malaysia and the Philippines).
This announcement is a further manifestation of Euronet’s global expansion strategy, which includes strengthening its presence in existing markets and expanding to territories outside of Europe with a diversified go-to-market strategy that includes the deployment of the company’s ATMs, followed by strategic agreements with financial institutions.
The expansion into new countries demonstrates the effective execution of the company’s strategic expansion plan and its ability to enter multiple new markets and territories rapidly despite diverse regulatory requirements, deploying flexible and state-of-the-art technology, using the company’s expert resources and applying optimized processes.
“We are excited with the launch of two more markets for our Independent ATM business,” said Nikos Fountas, Executive Vice President and Chief Executive Officer, Euronet Americas and EMEA EFT Division. “With Belgium, we further deepen and strengthen our presence in Europe, reaching more customers and offering greater cash accessibility. We are also excited about the launch of Mexico and the further diversification of our ATM network outside of Europe, which marks an important element of our international growth strategy.
“The new country launches validate our ability to accelerate and expand globally with our superior technology, operational services, and proven value proposition, placing us at the forefront of payment innovation. The new geographies are already proving to be solid investments, and we will continue aggressively seeking similar opportunities in all parts of the world.”
About Euronet
Starting in Central Europe in 1994 and growing to a global real-time digital and cash payments network with millions of touchpoints today, Euronet now moves money in all the ways consumers and businesses depend on. This includes money transfers, credit/debit processing, ATMs, point-of-sale services, branded payments, currency exchange, and more. With products and services in more than 200 countries and territories provided through its own brand and branded business segments, Euronet and its financial technologies and networks make participation in the global economy easier, faster, and more secure for everyone.
A leading global financial technology solutions and payments provider, Euronet has developed an extensive global payment network that includes 53,272 installed ATMs, approximately 637,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 66 countries; card software solutions; a prepaid processing network of approximately 810,000 POS terminals at approximately 348,000 retailer locations in 61 countries; and a global money transfer network of approximately 540,000 locations serving 194 countries and territories. Euronet serves clients from its corporate headquarters in Leawood, Kansas, USA, and 67 offices worldwide. For more information, please visit the Company's website at www.euronetworldwide.com.
