Euronet Signs Agreement to Acquire ATMs from UkrSibbank, a Subsidiary of BNP Paribas Group, in Ukraine
LEAWOOD, Kan.--(BUSINESS WIRE)-- Euronet Worldwide (NAS: EEFT) , via its Ukrainian subsidiary, Euronet Ukraine LLC, announces the acquisition of ATMs from UkrSibbank, a subsidiary of BNP Paribas and the third largest bank in the Ukraine. The agreement for the acquisition of 172 ATMs follows the November 2011 purchase of 116 ATMs from UkrSibbank and doubles Euronet's presence in the market.
Euronet operates the only shared ATM network in Ukraine and has contracts with five leading Ukrainian banks for network participation. The newly acquired ATMs are in convenient, high traffic, off-bank-premise locations and will be integrated into Euronet's network. The expansion of this partnership with UkrSibbank demonstrates Euronet's continued success in executing its strategy to consolidate banks' off-premise ATMs to an independently deployed and shared network model.
This contract includes a seven year agreement for the bank's participation in Euronet's shared network, which provides the bank's customers the ability to use Euronet ATMs under the same terms and conditions as the ATMs of their own bank. The agreement with UkrSibbank also expands Euronet's geographic footprint in the country from Kiev to the other five largest cities in Ukraine.
"UkrSibbank's cooperation with Euronet brings significant benefits for the bank and our customers. Euronet's experience in managing and operating ATMs enables the Bank to focus on our core business, while our customers benefit from higher service levels due to the convenience of the Euronet locations and high ATM uptime," stated Konstantin Lezhnin, Board Member of UkrSibbank.
"Euronet is proud to expand our relationship with UkrSibbank. This partnership reflects a growing global trend of banks consolidating their ATM Networks," stated Nikos Fountas, Vice President and Managing Director of Euronet's EFT Europe Division. "Our bank customers benefit from lower operating costs while their customers benefit from access to a wider ATM network as well as to an extended set of value added services."
Euronet is the largest pan-European Independent ATM Deployer, currently operating ATM Shared Networks in 11 European countries.
About Euronet Worldwide, Inc.
Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, consumer money transfer and bill payment services, and electronic distribution for prepaid mobile phone time and other prepaid products.
Euronet's global payment network is extensive - including 17,370 ATMs, approximately 69,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 36 countries; card software solutions; a prepaid processing network of approximately 631,000 POS terminals at approximately 304,000 retailer locations in 29 countries; and a consumer-to-consumer money transfer network of approximately 170,000 locations serving 133 countries. With corporate headquarters in Leawood, Kansas, USA, and 47 worldwide offices, Euronet serves clients in approximately 150 countries. For more information, please visit the Company's website at www.euronetworldwide.com.
Euronet Worldwide, Inc.
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KEYWORDS: Ukraine United States Europe North America Kansas Missouri
The article Euronet Signs Agreement to Acquire ATMs from UkrSibbank, a Subsidiary of BNP Paribas Group, in Ukraine originally appeared on Fool.com.
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