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Arab Financial Services, Euronet Worldwide join to offer ATM and POS driving

July 4, 2005

AME Info:Arab Financial Services Company B.S.C, a regional leader in card outsourcing business, has formed a joint venture company with Euronet Worldwide Inc., an electronic payments provider, called Euronet Middle East. The new company will offer outsourcing capabilities to financial institutions across the Middle East, North Africa, Gulf region and Pakistan.

Euronet Middle East, which is expected to be operational by the end of 2005, will provide FIs with debit card management and operational services, ATM and POS outsourcing services, chip card issuing services, and gateway services to VISA/MasterCard and national switches. The company also will provide value-added services including bill payment and GSM top-up transactions, among others.

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