US-based electronic payment services provider Euronet Worldwide (EEFT) has signed ATM asset purchase and ATM outsourcing agreements with Polish financial services provider APLITT SPOLKA AKCYJNA (APLITT).
Under the terms of the agreement, Euronet will acquire 167 off-site ATMs in Poland.
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Currently operating under the Global Cash brand, the acquired ATMs will be re-branded. Following that, they will be included into Euronet’s independent ATM network.
Euronet will also co-brand 304 SKOK24 ATMs located at Kasa Stefczyka branches, under another ATM outsourcing and network participation agreement.
Following the re-branding, Euronet will be offering complete end-to-end managed services along with customer support service for the outsourced ATMs.
Initially, it will utilise existing functionality available at the SKOK ATMs. Afterwards, some of these units will be upgraded into full self-service Automated Deposit Terminals (ADTs).
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By GlobalDataEMEA EFT Processing Segment executive vice-president and CEO Nikos Fountas said: “We are excited to further increase our Independent ATM Network in Europe, with ATM outsourcing and ATM asset acquiring from forward looking banks and FIs.
“This proves our strategy of being a catalyst of the ATM consolidation wave. We have the resources, the know-how and a solid value proposition for financial institutions to compete in the new challenging market conditions.”
The SKOK agreement represents Euronet’s third ATM outsourcing agreement and network participation agreement in Europe this year.
The first involved Credit Agricole’s 193 in-branch ADTs in Poland. The second agreement included 260 Piraeus Bank ATMs in Romania.
With these agreements, Euronet aims to bolster its presence in Europe as well as improve operational efficiencies at the ATMs.
