Euronet Drives ATMs inside UK Post Office Branches
Euronet Drives ATMs inside UK Post Office Branches
Euronet Drives ATMs inside UK Post Office BranchesLONDON, ENGLAND AND LEAWOOD, KANSAS, USA – January 16, 2002 -- Euronet Worldwide, Inc. (NASDAQ: EEFT), a leading provider of secure electronic financial transaction solutions, has contracted to drive merchant-replenished ATMs in Post Office branches throughout the United Kingdom. This project is in addition to the full-service ATMs Euronet already operates in 65 Post Office branches.
Initially, this comprehensive ATM solution will place merchant-replenished ATMs in approximately 130 Post Office branches, and the potential exists for many more future installations. Merchant-replenished ATMs are filled with cash provided by the operator of the retail site in which the ATM is located, thereby reducing the cost of operating and maintaining each machine. The concept has already been proven - Euronet currently drives more than 70 merchant-replenished ATMs in other locations – and Euronet plans to expand this Post Office Ltd. ATM program right away, with many locations currently under review.
“Euronet’s low-cost solution will help us meet our strategic goals of providing a new level of customer service, said Peter Davies, ATM Client Manager, Post Office Ltd. “As part of an overall program, this arrangement with Euronet will enable us to provide ATM services across the United Kingdom, including in many small and rural areas, often where there is no traditional access to banking services. We want to provide ATMs in as many of our 18,000 branches as possible.”
The Post Office serves over 28 million customers per week. The Post Office branch network is the largest retail chain in Europe, and on average, 95% of the UK population live within one mile of a branch.
This contract will rapidly expand Euronet’s business in the United Kingdom. In July 2001 the company gained certification to drive ATMs in the UK from the LINK Interchange Network Limited, the national ATM network. Euronet is the first independent ATM operator and transaction processor to drive ATMs in the United Kingdom from a processing center located outside the UK. Transactions are driven from the Operations Center in Budapest, Hungary.
“Providing ATM convenience to the UK’s more than 60 million citizens at their local Post Office branch is an exciting venture, and post offices could host one of the largest ATM estates in the UK,” said Michael Brown, Chairman and CEO of Euronet Worldwide. “This agreement was a substantial accomplishment for our UK staff.”
About Euronet Worldwide
Euronet Worldwide is an industry leader in providing secure electronic financial transaction solutions. The company offers financial payment middleware, financial network gateways, outsourcing and consulting services to financial institutions and mobile operators. These solutions enable their customers to access personal financial information and perform secure financial transactions -- any time, any place. The company has processing centers located in the United States, Europe and Asia, and owns and operates the largest independent ATM network in Europe. With corporate headquarters in Leawood, Kansas, USA, and European headquarters in Budapest, Hungary, Euronet serves more than 200 clients in 60 countries. Visit our web site at www.euronetworldwide.com.
About the Post Office Ltd. (UK)
The Post Office and Post Office symbol are registered trademarks of Post Office Ltd. in the UK and other countries. Details of the Post Office products and services can be found at www.postoffice.co.uk
Contacts:
Media Contact:
Misti Garffie
Euronet Worldwide
913-327-4257
mgarffie@payspot.com
Initially, this comprehensive ATM solution will place merchant-replenished ATMs in approximately 130 Post Office branches, and the potential exists for many more future installations. Merchant-replenished ATMs are filled with cash provided by the operator of the retail site in which the ATM is located, thereby reducing the cost of operating and maintaining each machine. The concept has already been proven - Euronet currently drives more than 70 merchant-replenished ATMs in other locations – and Euronet plans to expand this Post Office Ltd. ATM program right away, with many locations currently under review.
“Euronet’s low-cost solution will help us meet our strategic goals of providing a new level of customer service, said Peter Davies, ATM Client Manager, Post Office Ltd. “As part of an overall program, this arrangement with Euronet will enable us to provide ATM services across the United Kingdom, including in many small and rural areas, often where there is no traditional access to banking services. We want to provide ATMs in as many of our 18,000 branches as possible.”
The Post Office serves over 28 million customers per week. The Post Office branch network is the largest retail chain in Europe, and on average, 95% of the UK population live within one mile of a branch.
This contract will rapidly expand Euronet’s business in the United Kingdom. In July 2001 the company gained certification to drive ATMs in the UK from the LINK Interchange Network Limited, the national ATM network. Euronet is the first independent ATM operator and transaction processor to drive ATMs in the United Kingdom from a processing center located outside the UK. Transactions are driven from the Operations Center in Budapest, Hungary.
“Providing ATM convenience to the UK’s more than 60 million citizens at their local Post Office branch is an exciting venture, and post offices could host one of the largest ATM estates in the UK,” said Michael Brown, Chairman and CEO of Euronet Worldwide. “This agreement was a substantial accomplishment for our UK staff.”
About Euronet Worldwide
Euronet Worldwide is an industry leader in providing secure electronic financial transaction solutions. The company offers financial payment middleware, financial network gateways, outsourcing and consulting services to financial institutions and mobile operators. These solutions enable their customers to access personal financial information and perform secure financial transactions -- any time, any place. The company has processing centers located in the United States, Europe and Asia, and owns and operates the largest independent ATM network in Europe. With corporate headquarters in Leawood, Kansas, USA, and European headquarters in Budapest, Hungary, Euronet serves more than 200 clients in 60 countries. Visit our web site at www.euronetworldwide.com.
About the Post Office Ltd. (UK)
The Post Office and Post Office symbol are registered trademarks of Post Office Ltd. in the UK and other countries. Details of the Post Office products and services can be found at www.postoffice.co.uk
Contacts:
Media Contact:
Misti Garffie
Euronet Worldwide
913-327-4257
mgarffie@payspot.com