Business
Euronet Worldwide Continues to Evolve Its Technology with New Branding for Its API-Accessible, Cloud-Based Payments Solutions Technology
LEAWOOD, Kan., Jan. 22, 2020 (GLOBE NEWSWIRE) -- Euronet Worldwide (NASDAQ: EEFT), a leading global financial technology solutions and payments provider,
About this update from Euronet Worldwide, Inc.
[{"type":"text","content":"LEAWOOD, Kan., Jan. 22, 2020 (GLOBE NEWSWIRE) -- Euronet Worldwide (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, announced today it has changed the name of its API-accessible and cloud-based payments solution from the Digital Integrated Payments Cloud (DIPC) to the REV™ Payments Cloud (REV).\n The product’s underlying technology remains the same as does its purpose of providing developers API access to Euronet’s software technology and platforms (payments, issuing, compliance, currency exchange, etc.) as services and the company’s network of ATMs, POS terminals, and Ria Money Transfer locations. Through this single network connection to Euronet’s portfolio, development teams at banks, fintechs, and other businesses can quickly implement advanced payments processing functionalities in their apps or web applications. Examples include providing customers the flexibility to process any digital wallet or local/alternative payment (Alipay, etc.) or physical touchpoints at Euronet ATMs for transactions. “We have seen increased interest from the fintech community in our API-based soution in recent months,” said Michael J. Brown, Euronet’s Chairman and Chief Executive Officer. “The timing seemed right to shift this product to a name and brand that aligned better with our other software branding.” The REV branding is the latest news to come from Euronet’s software development team. Years ago, the company recognized a shift in the payments landscape where its processing capabilities needed to expand from simple account numbers and dollar amounts to include more data such as passwords, bar codes, images, and biometrics as well as more parties including retailers, banks, brands, fintech companies, and mobile operators. In response, the company created the REN Ecosystem (REN is a shortened version of the project’s Renaissance code name) to provide a future-proof environment that could process any transaction while also reducing the cost of ownership of a payment processing system through linear scalability on commodity hardware, reliance on modern programming languages, virtual 100% uptime, and other key features. Once proven in the company’s data centers, Euronet offered the processing power of REN to banks, processors, and national switches through the REN Foundation, software that contains Euronet’s...