LEAWOOD, Kan. - Euronet Worldwide Inc. has expanded its ATM-outsourcing agreement with China Postal Savings Bank, the fifth largest financial institution in China. According to a news release, the extended deal includes the management of 721 new ATMs for CPSB.
Euronet will deploy the additional 721 ATMs for the bank in Beijing, Shanghai and the Guangdong province and will provide a full range of day-to-day ATM services from its operations center in Beijing. Euronet is already managing 90 ATMs for the CPSB.
Euronet China expects to complete the deployment of the new ATMs over the next 12 to 18 months.
"The recent positive developments within the Chinese banking sector are creating significant opportunities for reliable and cost-effective ATM-outsourcing service partners, such as Euronet, to assist banks in China (to) develop their retail banking networks," said Michael J. Brown, Euronet's chairman, chief executive and president.
China Postal Bank has a growing network of 7,780 ATMs, which includes the 90 ATMs deployed by Euronet over the last year.
