Euronet Provides ABN AMRO Czech Republic with Charge Card And ATM Outsourcing

January 27, 2000 at 12:00 AM EST
Euronet Provides ABN AMRO Czech Republic with Charge Card And ATM OutsourcingBUDAPEST, Hungary -- Euronet Services Inc. (Nasdaq: EEFT) launched a new Visa charge card outsourcing service with ABN AMRO in the Czech Republic in December. Euronet's "Diamond Link" service is a comprehensive solution which performs Visa charge card issuance, transaction authorization and processing, and account reconciliation functions for ABN AMRO's corporate clients. Euronet also began ATM management outsourcing services for ABN AMRO in December.

Hugo Halter, COO for ABN AMRO N.V. Czech Republic commented, "Euronet offered us a unique and turnkey outsourcing solution which enabled us to implement an efficient processing structure for our card business and deliver high quality service to our prime customers. Given Euronet's expertise in the region, we were confident they would also meet our tight pre-Y2K deadline -- and they did."

"In the fast moving and increasingly competitive emerging markets, bank cards are becoming a commodity. Euronet's solution will be particularly attractive to international banking groups who want to centralize and outsource card processing on a multi-country scale," said Ivan Remsik, Senior Vice President, Visa International in London.

Miro Bergman, Euronet's Managing Director for Central Europe, said, "This program clearly demonstrates an emerging trend in Central Europe for banks to outsource key electronic financial transaction services. We're pleased that ABN AMRO selected Euronet as their charge card and ATM management service provider."

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 offices in eight countries on two continents, 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 70 countries around the world.