Press Releases

Euronet Enters Greek Market

March 29, 2000 at 12:00 AM EST
Euronet Enters Greek MarketLeawood, Kansas, USA – March 29, 2000 -- Euronet Services Inc. (Nasdaq: EEFT) has established an office in Athens, Greece and completed all regulatory requirements to enter the ATM management outsourcing business in that country. This new in-country presence will facilitate Euronet’s pursuit of several promising opportunities to take on ATM management for a number of multinational banks with Greek operations. In addition, the new Euronet office will also advance sales of the company’s Arksys brand integrated transaction management software, which is already in use by retail financial institutions across Greece.

“Greece is experiencing a tremendous growth in ATM deployment,” notes Michael J. Brown, chairman and CEO of Euronet Services, “and we’re going to be a major part of it. We bring expertise in providing banks and retailers with ATM management services on long-term outsourcing contracts, plus a state-of-the-art transaction processing switch infrastructure in Budapest, Hungary. In combination, these assets make Euronet the ideal partner for financial institutions in Greece seeking to provide their customers with ATM convenience while concentrating their resources on their core business activities.”

Over the past five years, Euronet has gained extensive experience in establishing and managing ATM networks in Europe. This skill set includes ATM site selection and installation, ATM operations and maintenance, and transaction processing and settlement. A growing number of banks and retailers are now accessing this expertise – as well as the infrastructure it operates with – through ATM management outsourcing contracts with Euronet. At the end of 1999, the number of client-owned ATMs under Euronet management reached 705, accounting for 31 percent of the 2,283 ATMs in the company’s network.

Euronet Services Inc. is a leading provider of electronic financial solutions and transaction processing services. Euronet operates a network of over 2,200 ATMs in Europe and the U.S., and offers the Arksys software suite of integrated solutions for electronic payment and transaction delivery systems. With eight offices in Europe and three in the United States, Euronet Services offers ATM network development and participation, outsourced management solutions, comprehensive software solutions, and professional consulting services to retail banks and companies in more than 61 countries around the world.