STRATEGIC PARTNERS
November 13, 2002
LEAWOOD, Kan. -- Secure electronic financial transaction provider Euronet Worldwide Inc. (Nasdaq: EEFT) has announced the launch of PaySpot, its U.S.-based prepaid phone recharge service.
According to a release, PaySpot enables consumers throughout the country to purchase wireless airtime and long distance calling plans from ATM and POS devices. The service will use Euronet's Electronic Recharge technology, currently active in nine European countries.
ATM processor Concord EFS, Inc. will offer the PaySpot service through Core Data Resources, Inc., its retail ATM processing subsidiary.
According to the release, PaySpot services will be supported by four ATM manufacturers with a combined installed base of more than 75,000 ATMs in the U.S., many of those processed by Core Data.
When fully implemented, PaySpot will allow consumers to go to ATMs or the checkout counter at PaySpot locations in convenience stores and other sites across the U.S. to recharge prepaid wireless accounts from all major and most regional wireless carries.
"Working with a top-tier company like Concord ensures that this program will be offered to as many ATM owners as possible," said Michael J. Brown, Euronet Worldwide chairman and CEO.
A number of ISOs, representing more than 10,000 ATMs, including Financial Technologies, Inc., International Merchants, The Bailey Group and Western Reserve Group have signed up to promote and offer PaySpot services to their ATM owners and merchants.
"We believe that the PaySpot program holds real promise, because it combines the rapid growth of the prepaid wireless market with a new revenue-generating transaction to our clients," Campbell Burgess, president of Core Data, said in the release.
