Business
Euronet Worldwide, Inc., Acquires Bank of Ireland’s non-branch ATM fleet
LEAWOOD, Kan., Dec. 23, 2020 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (NASDAQ: EEFT), a leading global electronic payments provider, has announced the
About this update from Euronet Worldwide, Inc.
[{"type":"text","content":"LEAWOOD, Kan., Dec. 23, 2020 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (NASDAQ: EEFT), a leading global electronic payments provider, has announced the acquisition of Bank of Ireland’s entire fleet of non-branch ATMs in the Republic of Ireland. Under terms of the agreement, Euronet will acquire 700 non-branch ATMs while the bank will still own and operate more than 750 ATMs located across its extensive branch network. The transfer of ownership to Euronet is planned for Feb 28, 2021. Euronet will assume full responsibility for managing the acquired ATM network and integrating it with the company’s existing ATM estate in the Republic of Ireland. In addition, Euronet plans additional investments to upgrade and enhance the ATMs with modern technology and new functionality to the benefit of consumers. No disruption in the operation of these ATMs is planned, ensuring seamless migration to Euronet systems and business continuity. The acquired ATM Network will be re-branded with Euronet branding elements. Purchase Results from Euronet’s ATM Asset Acquisition Program The Bank of Ireland agreement is part of Euronet’s strategy to consolidate ATMs in response to the numerous banks who are strategically reviewing their ATM networks for operational efficiencies while also investigating ways to expand product offerings. With its innovative ATM Asset Acquisition Program, Euronet offers banks a strategic path for divestment of its ATM networks, securing business continuity, increasing customer reach, and providing more services for their customers. The ATM Asset Purchase Program also includes full-scale ATM outsourcing services that cover the complete value chain of ATM operations. Euronet’s REV Payments Cloud to Manage Growing ATM Network The acquired Bank of Ireland non-branch ATM fleet will be fully integrated into Euronet’s existing ATM network in the country and centrally managed with the company’s REV® Payments Cloud core processing platforms and infrastructure. REV is part of Euronet’s state of the art REN™ Ecosystem, which provides advanced payments processing and services from a private cloud in Euronet’s worldwide data centers. REN and REV encompass the latest in payments innovations and provide gateways to fintech products and services, advancing the company to the forefront of our industry. Bridging the gap between digital and phy...