Press Releases

Euronet Begins Operating 100+ ATMs for ABN AMRO Hungary

May 4, 2000 at 12:00 AM EDT
Euronet Begins Operating 100+ ATMs for ABN AMRO Hungary Leawood, Kansas, USA – Euronet Services Inc. (Nasdaq: EEFT) has begun operating a network of over 100 ATMs for ABN AMRO Hungary under a multi-year outsourcing agreement.

Euronet Services recently completed the take-over of the monitoring and operation of 97 bank-owned ATMs currently located in ABN AMRO Hungary branches. In addition, Euronet will install and operate another 15 ATMs under the ABN AMRO brand name that will be owned by Euronet. Implementation of the agreement began in early April.

The new outsourcing contract will increase the total number of bank-owned ATMs that Euronet operates under outsourcing agreements across all its markets by 14%. When the project implementation is complete, Euronet will operate approximately 620 ATMs in Hungary, roughly one-quarter of all ATMs in that country. Nearly 40% of the ATMs operated by Euronet in Hungary will be bank-owned.

“We are pleased to be providing ABM AMRO Hungary with a range of electronic banking products and services, from software to ATM network participation to outsourcing,” said Peter Hartmann, Managing Director of Euronet in Hungary. “In this market, we believe only Euronet can offer banks such a complete package.”

David Haymes, Executive Director of ABN AMRO Hungary, said, “ABN AMRO is committed to providing our customers in Hungary with top-quality bankcard and ATM services. By outsourcing our ATM network operations to Euronet, we know that part of our business is in the hands of the experts.”

This agreement extends the already strong partnership between Euronet and ABN AMRO in Hungary. ABN AMRO Hungary has been a participating bank in Euronet’s ATM network since 1998, and uses a comprehensive package of Euronet’s Arksys brand software to run its entire bankcard issuance and management system. ABN AMRO Bank is the third largest bank in Europe and the sixth largest bank in the world in terms of total assets.

The number of bankcards issued in Hungary has grown rapidly over the last three years, up 208% since the end of 1996, and now comprising approximately 3.6 million cardholders or 36% percent of the country’s population.

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. It offers a complementary range of integrated transaction management software for the expanding array of electronic payment, transaction delivery, and e-commerce systems. Euronet Services operates the largest independent ATM network in Europe and is building a growing electronic transaction processing capacity in the United States. The company serves customers in more than 60 countries around the world.