Euronet Worldwide Announces Expansion into the U.S. ATM Outsourcing Market with the Acquisition of Dolphin Debit, a Comprehensive ATM Outsourcing Company
Dolphin Debit (Dolphin) provides comprehensive ATM outsourcing of more than 1,900 ATMs for its approximately 300 bank and credit union customers across
Financial institutions choose Dolphin and Euronet ATM outsourcing solutions to free their staff of the burden of ATM operations in order to focus on the institution’s core competencies. Benefits include the reduction of capital and operational expenses, improvement of ATM performance and innovations, management of ATM compliance obligations, achievement of economies of scale, and elimination of arduous vendor management.
The market opportunity for ATM outsourcing is large for Dolphin and made more attainable through the addition of Euronet’s own experience in outsourcing (26,000 ATMs) and pass-through processing (136,000 ATMs) as well as the company’s advanced payments technologies. Consider:
- Many of the financial institutions in
the United States are small in staff and without technical expertise. With Dolphin,Euronet can now easily extend the advanced ATM-based services and technologies it has built throughout other parts of the world to these businesses to make them more competitive in their markets and attractive to customers. - Current ATM outsourcing in the
U.S. is lacking services for advanced products such as mobile banking, digital wallets, digital content distribution, and other services customers demand. Through this acquisition, Euronet’s payments processing expertise with itsREN Foundation and REV Payments Cloud become available toU.S. financial institutions of all sizes through Dolphin ATM outsourcing services. - For all financial institutions but especially the larger ones, Euronet’s available capital, global economies of scale, and ATM outsourcing experience in other parts of the world will enhance Dolphin’s ATM and intelligent-ATM outsourcing offerings.
- Dolphin’s ATM locations are placed in the
U.S. at bank or credit union branches to serve their customers’ needs for cash and largely have been unaffected by seasonal travel, the COVID-19 pandemic, and other factors that affect ATM usage in other worldwide markets. - ATM outsourcing has existed for years but recently became a focus for banks and credit unions primarily because of increased regulatory pressures and a constant stream of complicated and mandated software upgrades. Studies suggest there are approximately 470,000 ATMs in
the United States with about 191,000 of those owned by credit unions and banks and the remaining 279,000 under control by independent operators1. It’s also estimated only 6% of the bank and credit union-operated ATMs are currently outsourced2, leaving a large available market for the enhanced services made possible through the combined resources and experience ofEuronet and Dolphin.
“ATM outsourcing in
“We have been aware of Euronet’s position as a leader in the global ATM market for some time, so this is an exciting opportunity for us to be able to contribute to the company’s overall strategic vision,” said
More information about Dolphin and its ATM outsourcing services for banks and credit unions can be found at www.dolphindebit.com or by contacting sales@dolphindebit.com.
About Dolphin Debit
Dolphin Debit’s ATM outsourcing solution offers complete end-to-end operations including the ownership of the equipment, hardware and software maintenance, cash management, compliance upgrades and all other services needed to efficiently operate the ATM fleet. Financial institutions can eliminate capex, reduce opex and eliminate operational resources through Dolphin Debit’s solution.
About
Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, cash-based and online-initiated consumer-to-consumer and business-to-business money transfer services, and electronic distribution of digital media and prepaid mobile phone time.
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2 S7P Global Data and RBR Reports
Statements contained in this news release that concern
Contact | |
Director of Financial Planning and Investor Relations |
+1-913-327-4200 staylor@euronetworldwide.com |
Source: Euronet Worldwide, Inc.