0 Comments
LEAWOOD, Kan. -- Euronet Services (Nasdaq: EEFT) has signed an 8-year services agreement with Citibank N.A. in Greece to deploy and operate 250 ATMs for the bank.

The agreement follows Euronet's recent entry into the Greek market and makes Euronet the largest independent provider of ATM outsourcing services in that country.

Under the agreement, Euronet will provide ATM site identification and operating services for the ATMs, including monitoring, transaction processing and maintenance services. Citibank will own the ATMs, all of which will be branded with Citibank's name.

Citibank will pay all direct costs of purchasing, installing and operating the ATMs, and will also pay Euronet a recurring management fee for its services.

All transactions performed on the ATMs will be routed for clearing and settlement directly to the Citishare switch, with which Euronet's European transaction processing center has a direct connection.

"We are delighted to be entering a new market in conjunction with Citibank, a customer for which we are already providing ATM network services in Hungary and Poland," said Michael Brown, Euronet chairman and CEO.

"This agreement shows how we can leverage Euronet's existing ATM switching, management and operations infrastructure for growth and long-term recurring service fees without making capital investments. Providing ATM network outsourcing services is key to our strategy for growth in other markets as well."

Euronet Services operates the largest independent ATM network in Europe and is building a growing electronic transaction processing capacity in the U.S. The company serves customers in more than 60 countries around the world.

Related Content

Reader Comments

Add a Comment

We welcome your thoughtful comments. All comments will display your real name.

Want to participate in the discussion?

Or log in for complete access.

  • Clear
  • Post
Be the first to post a comment for this story.
Products & Services

OptiNet

http://global.networldalliance.com/new/images/products/Optinetlogo100.jpg

467/OptiNet

OptConnect Wireless Modem for IP-only ATMs (The OC-250)

http://global.networldalliance.com/new/images/products/4098.png

4098/OptConnect-Wireless-Modem-for-IP-only-ATMs-The-OC-250

NCR Intelligent Deposit

http://global.networldalliance.com/new/images/products/822.png

822/NCR-Intelligent-Deposit

ATM Lobby Cash

http://global.networldalliance.com/new/images/products/Itautec_IW1101.gif

734/ATM-Lobby-Cash

Fraud Mitigation

http://global.networldalliance.com/new/images/products/702.png

702/Fraud-Mitigation

NCR Managed Services

http://global.networldalliance.com/new/images/products/CD346_129_SERV_CallCenter_150.jpg

3729/NCR-Managed-Services

ATM Testing On-Demand Worldwide - Web FASTest™

http://global.networldalliance.com/new/images/products/WebFastest_logo100.gif

3710/ATM-Testing-On-Demand-Worldwide-Web-FASTest

Casino and Gaming Solutions

http://global.networldalliance.com/new/images/products/Casino_100.gif

334/Casino-and-Gaming-Solutions

Check Services

http://global.networldalliance.com/new/images/products/4646.png

4646/Check-Services

Triton Connect — ATM Monitoring Software

http://global.networldalliance.com/new/images/products/ATMsoftare_100_0708.gif

539/Triton-Connect-ATM-Monitoring-Software

Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.