Euronet Expands Independent ATM Network Into Belgium and Mexico

The company’s IAD ATM network footprint now includes 32 countries in Europe and 38 countries globally

LEAWOOD, Kan., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Euronet (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, today announced the further expansion of its independent ATM network (IAD) with new launches in Belgium and Mexico, increasing its global ATM footprint to 38 countries across Europe, Asia Pacific, Africa and the Americas.

Belgium is the 32^nd European country in the company’s IAD network, strengthening Euronet’s presence and leadership position in the region. The company’s independent ATMs in Mexico signify Euronet’s entry into the emerging LATAM market, and this is the first step towards an accelerated expansion strategy in the region.

The announcement follows a series of global ATM expansion initiatives for Euronet in recent years, including new IAD deployments in Europe (Iceland, the Baltics, Norway and Montenegro), Northern Africa (Morocco and Egypt) and Southeast Asia (Malaysia and the Philippines).

This announcement is a further manifestation of Euronet’s global expansion strategy, which includes strengthening its presence in existing markets and expanding to territories outside of Europe with a diversified go-to-market strategy that includes the deployment of the company’s ATMs, followed by strategic agreements with financial institutions.

The expansion into new countries demonstrates the effective execution of the company’s strategic expansion plan and its ability to enter multiple new markets and territories rapidly despite diverse regulatory requirements, deploying flexible and state-of-the-art technology, using the company’s expert resources and applying optimized processes.

“We are excited with the launch of two more markets for our Independent ATM business,” said Nikos Fountas, Executive Vice President and Chief Executive Officer, Euronet Americas and EMEA EFT Division. “With Belgium, we further deepen and strengthen our presence in Europe, reaching more customers and offering greater cash accessibility. We are also excited about the launch of Mexico and the further diversification of our ATM network outside of Europe, which marks an important element of our international growth strategy.

“The new country launches validate our ability to accelerate and expand globally with our superior technology, operational services, and proven value proposition, placing us at the forefront of payment innovation. The new geographies are already proving to be solid investments, and we will continue aggressively seeking similar opportunities in all parts of the world.”

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