Euronet Worldwide

Euronet Worldwide is an American-headquartered worldwide provider of electronic payment services with headquarters in Leawood, Kansas. It offers automated teller machines (ATM), point of sale (POS) services, credit/debit card services, currency exchange and other electronic financial services and payments software.[7] Among others, it provides the prepaid subsidiaries Transact, PaySpot, e-pay, Movilcarga, TeleRecarga and ATX.[8]

As of 2019, Euronet services 50,000 ATMs and 330,000 EFT point-of-sale terminals across 170 countries.[9]


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.[10] On January 23, 2002, Euronet Worldwide announced the formation of a joint venture with Hong Kong-based First Mobile Group Holdings Limited.[11]

In April 2014, Walmart started offering a store-to-store money transfer service, partnering with Euronet’s subsidiary Ria Money Transfer.[12][13] Walmart2Walmart allows shoppers to transfer money to and from 4,000 Walmart stores in the U.S.[14] In 2016, the program was expanded into the global money transfer service market with Walmart2World.[15]

In June 2015, subsidiary Ria Money Transfer entered the Middle East remittance market with the buyout of money transfer provider, IME.[16] In February 2020, Ria opened its first retail store in Singapore, allowing customers to transfer money at foreign exchange rates.[17] In May 2020, Ria announced an expansion of their money transfer mobile app to European customers.[18] 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. [19]

In December 2018, Euronet signed an agreement with Mozambique to provide software for the nation’s financial system.[20] 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.[20]

In January 2019, the municipality of Amsterdam announced its plans to prevent new Euronet ATMs from opening in shop facades, as Euronet “charges a hefty fee per cash withdrawal and uses unfavorable exchange rates.”[21] Advocates for dynamic currency conversion argue that fees, in general, offer visibility of the total costs at the point of transaction.[22]

The following month, Euronet also faced criticism from the city of Prague, where it had installed hundreds of ATMs, several of which have been illegally installed into the facades of historical buildings and heritage sites without permission, in some cases irreversibly damaging the buildings. One particular example is the cubist Kiosk at Vrchlického sady, which has been judged by UNESCO to have been damaged beyond repair by the installation of a Euronet ATM.[23]

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.[9]

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 (DCC) service. The ATM service will be provided in countries across Asia Pacific and the Middle East.[24] That same month, Euronet began offering a recurring billing service to allow monthly payments for AppleCare products.[25] Euronet also entered an agreement with AMBER Alert Europe in January 2020 to publish active missing child alerts on ATM screens.[26] The next month, Euronet partnered with Amazon India to provide add-on payment services to Amazon’s mobile wallet platform.[27][28]

In September 2020, Euronet’s epay entered an agreement with Microsoft to manage monthly recurring billing for select retailers within the mobile gaming market.[29]


  • e-pay, Ltd., February 2003, an electronic payments processor of prepaid mobile airtime top-up services in the U.K. and Australia.[30][31]This added a prepaid processing division to Euronet that grew with the September 2003 purchase of Austin International Marketing and Investments, Inc. (AIM), a U.S. based company, and the acquisition of the German company transact Elektronische Zahlungssysteme GmbH in November 2003.[32]
  • 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.[33]In June 2015, Ria entered the Middle East remittance market with the buyout of money transfer provider, IME.[34]
  • 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.[35]This acquisition allowed Euronet to offer international payment services between accounts for high-income individuals and small-to-medium-sized businesses.[36]
  • com, July 2015, a provider of digital foreign exchange rate information, bringing Euronet a large internet presence and users familiar with foreign currency.[37][38]
  • Innova, April 2018, which would allow Euronet to provide value-added tax refunds to its customers.[39]
  • Dolphin Debit, April 2020, a U.S. based ATM outsourcing company.[40]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.[41]

Company operation

It operates in three segments: electronic funds transfer (EFT) processing, prepaid processing, and money transfer.[7]

  • The EFT processing segment provides outsourcing and network services to financial institutions and mobile phone companies. This segment provided these services using a network of ATMs and POS terminals in Europe, Asia, and the Middle-East.
  • The prepaid processing – ePay division distributes prepaid mobile airtime, and other prepaid products and collections services for various prepaid products, cards, and services. This segment operates in a network of locations in the United States, Europe, Africa, Asia Pacific, and the Middle-East. It also provides prepaid long-distance calling card plans, prepaid internet plans, prepaid debit cards, and prepaid gift cards, as well as prepaid mobile content, such as ring tones and games.
  • The money transfer segment provides global money transfer and bill payment services primarily in North America, the Caribbean, Europe, and Asia-Pacific.


  1. ^“Euronet CEO Brown, Dunns receive UMKC Bloch School awards”., Retrieved on February 27, 2020
  2. ^“Brown becomes Euronet president; Caponecchi takes new title”., Retrieved on February 27, 2020
  3. ^“Rick L. Weller”., Retrieved on February 20, 2020
  4. ^“Juan C. Bianchi”. Wall Street Journal Markets. Retrieved 16 April 2020.
  5. ^“Nikos Fountas”., Retrieved on February 27, 2020
  6. ^ Jump up to:ab c d e “Euronet Worldwide Form 8-K 2020”., Retrieved on March 3, 2020
  7. ^ Jump up to:ab “EEFT – Profile, Euronet Worldwide, Inc”. Yahoo! Finance. Retrieved 14 December 2020.
  8. ^“Industry Comparables and Peers”. Retrieved April 30, 2019.
  9. ^ Jump up to:ab “High Profile: For Tony Warren, personal touch is fundamental”. Arkansas Online. 2020-05-24. Retrieved 2020-06-09.
  10. ^Euronet to Expand Business and Product Line by Acquiring ARKSYS, Euronet – Press Release Archived 2006-03-17 at the Wayback Machine, Retrieved on May 14, 2008
  11. ^“Euronet Forms Asian Joint Venture with First Mobile Group”.
  12. ^“Walmart Will Enter Cash Wiring Business”. The New York Times. 18 April 2014.
  13. ^“Walmart Unveils Walmart-2-Walmart Money Transfer Service”. PYMNTS. 17 April 2014.
  14. ^“Walmart Launches Money Transfer Service Between Stores, Competing With Western Union”. Forbes. 17 April 2014.
  15. ^“Walmart Generates an Estimated $1 Billion in Total Savings For Consumers Through Branded Money Transfer Services”. Corporate – US. Retrieved 2020-01-31.
  16. ^“Euronet Ria Enters Middle East, Malaysia with IME Buyout”. Nasdaq. 23 June 2015.
  17. ^“Euronet Arm Opens Store in Singapore for Easy Remittance”. Zacks Investment Research. Retrieved 2020-05-05.
  18. ^“Ria announces new app for European market”. FXcompared. Retrieved 2020-06-15.
  19. ^“OXXO will carry out an allied money transfer with Ria Money Transfer”. Opportimes (in Spanish). 2020-07-14. Retrieved 2020-10-07.
  20. ^ Jump up to:ab“Euronet software will run the financial system in Mozambique”. Bizjournals. Retrieved 2020-03-10.
  21. ^Pieters, Janene (2019-01-24). “Amsterdam to halt increasing number of ATMs aimed at tourists”. NL Times. NL Times. Retrieved 4 February 2019.
  22. ^“Benefits of DCC”. DCC Forum. Retrieved 1 March 2019.
  23. ^Rubeš, Janek; Mikulka, Honza; Burýšek, Jiří (26 February 2019). “Americká společnost nenávratně poničila jedinečnou pražskou památku. Bankomat chtěli dát i do synagogy”. (in Czech). Retrieved 14 December 2020.
  24. ^“Euronet to provide cloud-based DCC to Standard Chartered across 1000 ATMs in 14 countries”. Finextra Research. 2020-01-08. Retrieved 2020-04-09.
  25. ^“Euronet’s Unit Launches Monthly Billing Service for AppleCare”. Yahoo Finance. Retrieved 2020-04-28.
  26. ^“Euronet Worldwide to publish missing children alerts on ATM screens”. Finextra Research. 2020-01-13. Retrieved 2020-04-20.
  27. ^“Euronet, Amazon sign deal in India, which has 400M customers”. Kansas City Business Journal. Retrieved 2020-05-20.
  28. ^“Euronet to offer transaction processing services to Amazon India”. Cards International. Retrieved 2020-05-20.
  29. ^“epay to manage transactions between Microsoft and retailers for Xbox-related subscriptions”. Retrieved 2020-10-27.
  30. ^“Euronet expands prepaid business with acquisition of UK processor”. 18 February 2003. Retrieved 14 December 2020.
  31. ^“Euronet 

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