Euronet Expands its Shared Independent Automated Deposit Terminal Networks across Europe
LEAWOOD, Kan.—June 23, 2016 — Euronet Worldwide, Inc. (NASDAQ: EEFT), a leading global payments provider, announces the further expansion of its pioneering Shared Independent Recycler Automated Deposit Terminal (“Recycler ADT”) Network across Europe. Euronet’s Recycler ADT Network has now reached 2,500 ADTs in Poland, Germany, Romania and Czech Republic with plans to expand further in more markets within 2016. Euronet's Shared Independent Recycler Deposit Networks are the first to be operated with participation from multiple banks. Automating cash deposits allows banks to extend their branch services without incurring the cost of operating additional branch locations, reduces deposit processing costs and enhances customer satisfaction. Participating banks enjoy the benefits of an extended Recycler ADT Network, without incurring any capital investments. The banks' customers are offered a convenient and secure service and are able to deposit their cash at a nearby location with 24x7 availability, making access more convenient than traditional bank branches. ADTs allow customers to enjoy real-time access to their funds, reduced wait times at the bank branch and a variety of deposit types including account deposits and deposits for credit card or loan payments, with additional transaction types to be supported in the future.
Euronet is the first to deploy Independent Recycler Automated Deposit Networks, and has demonstrated operational efficiencies and valuable knowhow. Participating banks will benefit from best practices, as the service is fully managed at all of its individual stages. A go-to-market advantage combined with proven technical and operational infrastructure enables banks to enhance their services and expand their customer base.
Euronet’s Independent Recycler Automated Deposit Networks prove valuable both to established banks that wish to restructure their Off-Site ATM Networks or optimize their In-Branch Networks, and to new emerging banks with an internet/mobile focus. The latter are able to have access to a new retail network of Recycler ADTs, and offer an omni-channel experience to their consumers.
The service is also available directly to merchants, as an automated cash management solution, enabling cash deposits to their bank of choice. Euronet undertakes the planning, installation and operations management of the Recycler ADTs within the merchant’s premises or alternatively in convenient locations serving multiple merchants, with immediate positive effects on their cash management process and increased revenues. Extending the service further, Euronet enables the offering directly to
consumers by allowing the deposits of cash to their bank account of choice, offering a universal deposit service across the country. "We are excited to have reached such a critical mass on our Shared Independent Recycler ADT Network. This has proven our strategy, with our plans now focused on expanding in more markets and attracting more banks to participate and enjoy the benefit,” stated Nikos Fountas, Executive Vice President and Chief Executive Officer, EMEA EFT Processing Segment. “We will continue to innovate and add more features to our service to benefit banks, merchants and consumers, and universal deposits available across Europe," added Mr. Fountas.