LEAWOOD, Kan. and MUMBAI, India - Euronet Worldwide, Inc. (Nasdaq: EEFT) has signed a multiyear ATM outsourcing and deployment agreement with Centurion Bank, a private sector bank in India.
Under the agreement, Centurion Bank will outsource its entire network of 152 ATMs to Euronet India. The company will take over the operation of the bank's ATMs within the next 60 days and provide end-to-end ATM outsourcing services from its operations center in Mumbai.
This agreement includes transaction processing, network management and monitoring, security, cash forecasting and replenishment, help desk, incident management, maintenance and full reconciliation and settlement services. Furthermore, Euronet will also provide ATM outsourcing services for any new ATMs that are deployed by Centurion Bank.
Shailendra Bhandari, Centurion Bank's managing director, said, "Euronet's ATM outsourcing and deployment model provides us with an opportunity to gain better cost and operational efficiencies. We have complete confidence in Euronet's offerings, which enhances our customer focus by providing them a multitude of innovative convenient banking services."
In addition to ATM outsourcing services, Euronet provides shared ATM networking services to Centurion Bank through its Cashnet network, India's largest nationwide multilateral shared ATM network with nine member banks and more than 3,500 ATMs.
Euronet also provides value added network services to the bank, in the form of online mobile phone recharge with three of the leading mobile phone operators in India.
With the addition of Centurion Bank, Euronet now has ATM outsourcing contracts with seven private sector/multinational banks in India.
