News

Euronet in ATM outsourcing agreement with multi-national bank in India

December 8, 2004

LEAWOOD, Kan. and MUMBAI, India - Euronet Worldwide, Inc. has signed a multiyear ATM outsourcing agreement with a large multi-national bank in Mumbai, for its existing nationwide network of 245 ATMs.

According to a news release, the name of the contracting bank remains undisclosed at the bank's request.

Euronet will take over the operation of 245 existing ATMs from the bank in major cities across India before the end of 2004.

Euronet will provide ATM driving services from Euronet's operations center in Mumbai and will provide all of the day-to-day outsourcing services, including transaction processing, network management and monitoring, security, cash forecasting and replenishment, help desk, incident management, maintenance and full reconciliation and settlement services.

"Through this new agreement we will allow the bank to focus more resources on its core business and leverage the capabilities of Euronet in India," said Daniel Henry, Euronet's president and chief operating officer.

Euronet also provides shared ATM networking services to the bank through its Cashnet network, India's largest nationwide multilateral shared ATM network with nine member banks and more than 3,400 ATMs.

Euronet also provides online mobile phone recharge with four of the leading mobile phone operators in India.