News

Romanian bank outsources ATM operations to Euronet

September 24, 2003

BUCHAREST, Romania and LEAWOOD, Kan. - Payments provider Euronet Worldwide, Inc. (Nasdaq: EEFT), says it has signed a multi-year agreement to provide end-to-end ATM and point-of-sale transaction gateway outsourcing services to Raiffeisen Bank S.A., the third largest retail bank in Romania and the largest Raiffeisen subsidiary outside of Austria.

Euronet will provide end-to-end ATM and POS operation and management services, Visa and MasterCard transaction gateway routing, settlement, reporting services, stand-in processing and value-added services such as electronic recharge and bill payment for the bank's approximately 600 ATMs and 2,700 POS terminals.

According to a news release, Raiffeisen Bank plans to deploy an additional 300 ATMs and 3,300 POS terminals in the first 24 months of this partnership.

Raiffeisen Bank Romania has used Euronet's Integrated Transaction Management software for their debit card, ATM, POS and merchant management systems since November of 1999. The existing applications will significantly reduce the time and costs of migrating its ATMs, POS terminals and transaction routing services to the Euronet operations center, located in Budapest, Hungary.

Raiffeisen Bank Romania represents the fourth ATM and the second POS agreement with a Raiffeisen subsidiary for outsourcing services in central Europe with Euronet, according to the release. Raiffeisen Bank Romania follows ATM and EFT POS agreements with Raiffeisenbank Austria d.d. in Croatia and ATM outsourcing agreements with Tatra Bank in Slovakia and Raiffeisen Bank Rt. in Hungary.