News

Euronet expands ATM outsourcing deal with Indian bank

July 5, 2006

LEAWOOD, Kan. - Electronic-payments provider Euronet Worldwide Inc. has expanded its multiyear ATM-outsourcing agreement with Centurion Bank of Punjab, a private sector bank based in Mumbai, India. According to a news release, the agreement, which previously included 164 ATMs, now includes 408 ATMs. Centurion Bank of Punjab was formed from the October 2005 merger of Centurion Bank and Bank of Punjab.

"By outsourcing our ATM network services to Euronet, we are able to focus more resources on establishing a full-service commercial bank with strong retail and SME (small to medium enterprise) presence across the country," said Anil Jaggia, CBOP's chief operating officer. "We are confident that the company's offerings will enable our bank to gain better cost and operational efficiencies while delivering a seamless transaction experience to our customers."

Euronet India expects to take over the operation of CBOP's remaining 244 ATMs within the next 30 to 60 days. CBOP is connected to Euronet's Cashnet, the largest shared ATM network in India with more than 5,600 ATMs.

Euronet India also provides mobile-phone recharge through ATMs, SMS (short message service) and the Internet channels.