Euronet Worldwide
| Euronet Worldwide
|
|
|---|---|
 |
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| legal form | Corporation |
| ISIN | US2987361092 |
| founding | 1994 |
| Seat | Leawood, Kansas |
| management | Michael J. Brown (CEO) |
| Number of employees | 5600 |
| sales | $ 1.959 billion (2016) |
| Branch | Financial services, electronic payments, retail |
| Website | www.euronetworldwide.com |
Euronet or Euronet Worldwide is a US provider of electronic payment services headquartered in Leawood, Kansas. It provides ATMs, point of sale (POS) services, credit / debit card services, currency exchange and other electronic financial services.
Euronet is represented in over 150 countries and operates more than 18,000 ATMs.
history
The company was founded by brothers-in-law Dan Henry and Mike Brown in 1994 and is headquartered in Leawood, Kansas.
In 1998, Euronet acquired ARKSYS, a computer software company specializing in electronic payment and transactional delivery systems.
On January 23, 2002, Euronet Worldwide announced the formation of a joint venture with Hong Kong-based First Mobile Group Holdings Limited.
In 2007, the company acquired Ria Money Transfer.
In 2013, Euronet acquired Pure Commerce, gaining access to a range of SaaS-based applications. In the following year she acquired the British foreign exchange broker HiFX and thus gained access to cross-border payments in Great Britain, Australia and New Zealand.
In July 2015, Euronet bought the currency conversion website xe.com.
Business activity
The company operates in three segments: Electronic Fund Transfer (EFT) processing, prepaid processing, and money transfer.
- The EFT Processing segment provides outsourcing and network services for financial institutions and wireless companies. This segment provided these services through a network of ATMs and POS terminals in Europe, Asia and the Middle East.
- The Prepaid Processing - ePay department sells prepaid mobile airtime and other prepaid products and collection services for various prepaid products, cards and services. This segment is represented with a network of locations in the USA, Europe, Africa, the Asia-Pacific region and the Middle East. It also offers prepaid long distance calling card plans, prepaid internet plans, prepaid debit cards, and prepaid gift cards, as well as prepaid cellular content such as ringtones and games.
- The Money Transfer segment provides global money transfer and bill payment services primarily in North America, the Caribbean, Europe and the Asia-Pacific region.
criticism
Euronet has been criticized for high service fees and the unfavorable exchange rates of its ATMs. In January 2019, the municipality of Amsterdam announced its plans to prevent new Euronet ATMs from opening in the storefronts as Euronet “charges a high fee per cash withdrawal and uses unfavorable exchange rates” and does not contribute to the well-being of the locals.
In Austria, Euronet is the only ATM operator to date to have introduced this fee. There, Euronet operates around 80 ATMs out of a total of 8,800 throughout the country, mainly in places of tourist interest. In Vienna, for example, there are Euronet ATMs on Mariahilferstrasse or Stephansplatz. In Tyrol and Salzburg, Euronet ATMs are often located in ski areas. In addition to Euronet and the respective bank chains, First Data Austria operates a large network of ATMs. However, this operator does not charge consumers any fees for cash withdrawals.
Individual evidence
- ↑ a b EEFT - Profiles , Yahoo! Finance, May 14, 2008
- ↑ Durchblicker: ATM fees. Yousure Tarifvergleich GmbH, accessed on June 27, 2019 .
- ↑ Euronet expands business and product line by taking over ARKSYS, Euronet - press release ( Memento of the original from March 17, 2006 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , May 14, 2008
- ^ Euronet Forms Asian Joint Venture with First Mobile Group .
- ↑ UPDATE 1-Euronet to acquire RIA Envia for $ 490 mln , Reuters. January 20, 2007.
- ^ Ashley Armstrong: Money transfer company HiFX sold for £ 145m , The Telegraph. March 11, 2014.
- ↑ OzForex undeterred after missing out on xe.com buy , Sydney Morning Herald. November 10, 2015.
- ↑ Caution: Not all ATMs are created equal. . Retrieved February 4, 2019.
- ↑ DO NOT use Euronet ATMs when traveling. . Retrieved February 4, 2019.
- ↑ Javier Escribano: How Euronet tries to deceive you with dark machinations. . Retrieved February 4, 2019.
- ↑ Janene Pieters: Amsterdam wants to stop the increasing number of ATMs for tourists . NL Times. Retrieved February 4, 2019.
- ↑ Durchblicker: ATM fees. Yousure Tarifvergleich GmbH, accessed on June 27, 2019 .
