Euronet and Budapest Bank Extend Agreement for ATM Network Outsourcing
Euronet and Budapest Bank Extend Agreement for ATM Network Outsourcing
Euronet and Budapest Bank Extend Agreement for ATM Network Outsourcing Budapest, Hungary — Euronet Services (Nasdaq: EEFT) has signed a new 10-year ATM outsourcing agreement with Budapest Bank of Hungary. According to the agreement, Euronet will continue to provide complete ATM outsourcing services for Budapest Bank’s entire network of 145 ATMs. In addition, Euronet will take over ownership of the ATMs, which will remain branded with the Budapest Bank logo.
This long-term strategic contract restructures and extends the existing agreement between Budapest Bank and Euronet Services, solidifying a longstanding customer relationship. Budapest Bank is 27% owned by GE Capital.
Péter Hartmann, Euronet’s managing director in Hungary, said, "We are very happy to have this opportunity. Budapest Bank was Euronet’s first ATM outsourcing services customer back in 1997. The fact that both parties now find it mutually beneficial to extend this cooperation for another 10 years is a fine testament to the effectiveness and advantages of our ATM network outsourcing services."
Gábor Katus, head of Budapest Bank’s bankcard business, added, "Euronet Services has proven over the past three years that they can provide reliable and efficient management of our ATM network. As Budapest Bank continues to develop the range of retail banking services and technology we offer to our customers, we are pleased be able to entrust the bank’s ATM network to Euronet."
In just five years, Euronet Services has become the largest independent ATM network provider in Europe. Today, Euronet Services operates nearly 2,500 ATMs in Europe and the US, of which 810 (including the Budapest Bank ATMs) are owned by Euronet’s outsourcing customers. Over the past two years, Euronet’s network of proprietary and customer-owned ATMs has approximately doubled in size, and new outsourcing customers have been added in Poland, Hungary, Croatia, France and the US. The company has a strong local presence in Budapest, which serves as Euronet’s European headquarters and the operations center for ATM transaction switching and processing.
Euronet Services Inc. is a global leader in the rapidly evolving arena of electronic financial transactions. The company provides banks and retailers with an advanced infrastructure for connectivity and transaction processing. The company’s Arksys Software Division offers a suite of integrated retail banking products that include ATM management, POS and merchant systems, credit and debit card systems, internet banking, telebanking, and wireless banking. Euronet operates the largest independent ATM network in Europe and is building a growing transaction processing capacity in the United States. The company serves customers in more than 60 countries around the world.
This long-term strategic contract restructures and extends the existing agreement between Budapest Bank and Euronet Services, solidifying a longstanding customer relationship. Budapest Bank is 27% owned by GE Capital.
Péter Hartmann, Euronet’s managing director in Hungary, said, "We are very happy to have this opportunity. Budapest Bank was Euronet’s first ATM outsourcing services customer back in 1997. The fact that both parties now find it mutually beneficial to extend this cooperation for another 10 years is a fine testament to the effectiveness and advantages of our ATM network outsourcing services."
Gábor Katus, head of Budapest Bank’s bankcard business, added, "Euronet Services has proven over the past three years that they can provide reliable and efficient management of our ATM network. As Budapest Bank continues to develop the range of retail banking services and technology we offer to our customers, we are pleased be able to entrust the bank’s ATM network to Euronet."
In just five years, Euronet Services has become the largest independent ATM network provider in Europe. Today, Euronet Services operates nearly 2,500 ATMs in Europe and the US, of which 810 (including the Budapest Bank ATMs) are owned by Euronet’s outsourcing customers. Over the past two years, Euronet’s network of proprietary and customer-owned ATMs has approximately doubled in size, and new outsourcing customers have been added in Poland, Hungary, Croatia, France and the US. The company has a strong local presence in Budapest, which serves as Euronet’s European headquarters and the operations center for ATM transaction switching and processing.
Euronet Services Inc. is a global leader in the rapidly evolving arena of electronic financial transactions. The company provides banks and retailers with an advanced infrastructure for connectivity and transaction processing. The company’s Arksys Software Division offers a suite of integrated retail banking products that include ATM management, POS and merchant systems, credit and debit card systems, internet banking, telebanking, and wireless banking. Euronet operates the largest independent ATM network in Europe and is building a growing transaction processing capacity in the United States. The company serves customers in more than 60 countries around the world.