Press Releases

ALLTEL, Euronet Worldwide team to develop ‘Pocket ATM’

December 21, 2000 at 12:00 AM EST
ALLTEL, Euronet Worldwide team to develop ‘Pocket ATM’ LITTLE ROCK, Ark. and LEAWOOD, Kan.– ALLTEL and Euronet Worldwide will develop a first-of-its-kind software application that will allow ALLTEL’s wireless Internet customers to access their bank accounts at virtually any bank in the world.

With this agreement, Euronet’s software and financial transaction network will create a “pocket ATM” for ALLTEL Communications’ Web-Unwired customers. Unlike other wireless banking applications, Web-Unwired customers will be able to check bank account balances at any bank that participates in an automated teller machine (ATM) network.

“Wireless banking is another way wireless Internet technology will simplify the lives of ALLTEL customers,” said Kevin Beebe, ALLTEL's communications group president. “Developing this first-of-its-kind application will extend the convenience of wireless banking to our customers. This announcement demonstrates our aggressive plan to bring financial services to our wireless Internet customers.”

ALLTEL and Euronet expect to offer this balance-inquiry application to Web-Unwired customers in 2001. This is a first step toward plans that would allow customers to securely transfer funds between accounts, pay bills and make purchases using a wireless phone.

“This wireless application will help ALLTEL give customers the personalized banking service they want, when they want it,” said Michael Brown, Euronet Worldwide chairman and chief executive officer. “Building upon our extensive expertise in providing banking services and transaction processing, Euronet is now offering a unique suite of wireless services designed to place consumers closer to their bank accounts and in a more personal and private way than ever before."

ALLTEL’s Web-Unwired is currently available to digital wireless customers in more than 100 cities, offering the anywhere-anytime ability to send and receive e-mail and view Internet-based content on their wireless handsets.

Euronet Worldwide is a global provider of secure electronic financial transaction solutions. The company provides financial payment middleware, financial network gateways, outsourcing, and consulting services providing banks, financial institutions, and mobile operators the ability to provide their clientele access to their personal financial information and perform secure financial transactions -- any time, any place. Arrowz, the company’s proprietary transaction management system, powers financial transaction solutions for over 200 clients in 60 countries as well as the company’s processing centers located in the United States, Europe and Indonesia. Euronet was recently ranked number two on the Deloitte & Touche Technical Fast 500, a ranking of the fastest growing technology companies in North America. The company owns and operates the largest independent ATM network in Europe with corporate headquarters in Leawood, Kansas, USA, and European headquarters in Budapest, Hungary.

ALLTEL, with more than 10 million communications customers, almost $7 billion in annual revenues and more than 26,000 employees, is a leader in the communications and information services industries. ALLTEL has communications customers in 24 states and provides information services to telecommunications, financial and mortgage clients in 55 countries and territories.


Euronet Worldwide Inc., NASDAQ: EEFT