News

Euronet expands shared recycling ATM network to 2,500 terminals

June 15, 2016

Payments provider Euronet Worldwide Inc has expanded its Shared Independent Recycler Automated Deposit Terminal Network across Europe. The system now includes 2,500 ADTs in Poland, Germany, Romania and the Czech Republic.

The Euronet shared ADT network is the first in Europe to be operated with participation from multiple banks, according to a company press release.

This operating model allows banks to extend their branch services without incurring the cost of operating additional branch locations and reducing deposit processing expense.

Bank customers get a "universal deposit" experience with the ability to deposit cash 24/7 to the bank account of their choice at any recycler ADT in the network.

Additionally, customers of participating banks enjoy real-time access to funds, reduced wait times at the branch and the ability to deposit funds into their bank account or make a loan or credit card payment. Additional transaction types will be supported in the future, the company said.

The recycler ADT is also available to merchants as an automated cash management solution. Euronet handles planning, installation and operations management of the terminals — either within the merchant's premises or in a convenient location serving multiple merchants.

"We are excited to have reached such a critical mass on our Shared Independent Recycler ADT Network," said Nikos Fountas, executive vice president and CEO for the EMEA EFT processing segment at Euronet.

Fountas said that the company is now focusing on expanding the service into additional new markets before the end of the year. And, he said, "We will continue to innovate and add more features to our service to benefit banks, merchants and consumers."