News

Euronet rolls out end-to-end prepaid card solution across Europe

April 23, 2013

Euronet 360 Finance Ltd., a subsidiary of Leawood, Kan.-based EFT processor Euronet Worldwide, has announced the launch of complete solutions for prepaid card issuing, processing and BIN sponsorship in Europe. With oversight from the U.K. Financial Conduct Authority, Euronet 360 now provides electronic money and payment services from card issuing through acquiring.

By "passporting" its e-money license across the Single Euro Payments Area (excluding Monaco), Euronet 360 is able to issue cards and process transactions across the entire European Economic Area. The company is a member of MasterCard Europe sprl., allowing issuance of open loop products for MasterCard, Maestro and Cirrus brands in SEPA markets. Cardholders can use their cards at MasterCard-branded locations worldwide.

Standard features of Euronet's prepaid card solution include support for physical and virtual cards, including those for one-time, gift card or reloadable use. Contactless functionality is supported by MasterCard Paypass, meaning that cardholders can carry out low-value transactions without having to insert a card or enter PIN into a POS terminal.

The European prepaid cards market is forecast for year-on-year double digit growth and widely acknowledged as the sector with the greatest growth opportunities in the next five years. Euronet's complete prepaid card solution provides non-FCA licensed organizations with the ability to quickly, easily and cost effectively enter the prepaid card arena. Card users have the optimal ability to reload their cards using the vast POS, ATM and partner bank network of Euronet Worldwide in addition to its epay and RIA subsidiaries throughout Europe.

"Euronet Worldwide's technological infrastructure, combined with the reach, capability and proven track record of its existing client base, clearly positions Euronet 360 Finance Ltd. and its partners to monetize the projected growth of this sector," said Ian Dickinson, managing director of Euronet 360 Finance Ltd.

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