Euronet acquires Kiwi gift card processing, distribution concern

Nov. 16, 2012

Euronet Worldwide Inc., an electronic payments provider and distributor, has announced the acquisition, through its subsidiary, epay New Zealand Ltd., of certain assets and retail contracts from ezi-pay Ltd. The acquisition of ezi-pay makes epay New Zealand the largest distributor of prepaid mobile and non-mobile content in that country.

Auckland-based ezi-pay currently is New Zealand's largest full-service provider of gift card issuing, processing and distribution services, offering more than 90 branded gift cards and mobile-top-up through more than 1,200 retail outlets across the country. The company also sells gift cards on its website, 

"ezi-pay will nicely complement our growing digital content distribution and core mobile top-up business in New Zealand," said Roger Smith, managing director of epay New Zealand. "The expanded retail footprint of the merged businesses includes all large retail locations in New Zealand, allowing epay to diversify its product offerings, reach additional consumers and provide retailers more revenue generating opportunity."

Euronet expects the acquisition to deliver immediate and long-term value for shareholders, contributing approximately two to three cents to Euronet's annual cash earnings per share in its first full year of operations.

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Topics: Asia, Australia & Pacific , Distributors / ISO / IAD , Prepaid / Stored Value / Gift Card , Transaction Processing

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