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Euronet's Unit to Handle Transactions for Xbox Subscriptions
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Euronet Worldwide, Inc.’s (EEFT - Free Report) epay division is chosen for managing monthly recurring billing between Microsoft and certain telecommunications retailers for the sales of Games Pass Ultimate and Xbox All Access subscriptions across the globe.
This deal covers a couple of Xbox offerings for customers. Xbox Game Pass Ultimate includes Xbox Game Pass for Console, Xbox Game Pass for PC, Xbox Live Gold and Microsoft’s recently introduced Cloud Gaming that allows access to above 100 AAA console games streamable to respective mobile Androids in 22 markets. This could be availed of at an inexpensive monthly price on a recurring monthly subscription basis.
There is another offering in which Xbox All Access provides the choice of an Xbox One console and accessories along with a recurring monthly subscription to Xbox Game Pass Ultimate to qualified customers.
Customers do not have to pay upfront expenses for the console at the point of purchasing.
This division of Euronet processed mobile top-ups and other transactions at telecommunications retailers worldwide and even took care of the distribution of Xbox’s digital gaming content.
With this deal, epay will be able to help Microsoft penetrate further into the cloud-based mobile gaming world. Per certain studies, the usage of mobile games is expected to rise owing to smartphone adoption and 5G networks. The same is expected to generate revenues worth $77.2 billion in 2020 globally, up 13.3% year over year.
The overall gaming market is also anticipated to exceed $200 billion by the end of 2023.
epay will be able to deliver the best results given its experience in catering to the evolving needs of the markets.
Epay is a leading full-service provider of payment processing and prepaid solutions that processed 1.5 billion transactions last year. In 2019, it contributed 28% to the company’s total revenues on the back of higher transactions, expansion of digital media products and SaaS solutions.
As of Jun 30, 2020, the segment operated through a network of around 703,000 POS terminals providing electronic processing of digital media and prepaid mobile airtime top-up services in Europe, the Middle East, the Asia Pacific, the United States and South America.
We expect this segment to continue performing well on robust online and in-app sales of digital media products and the surging retail sales of digital media products.
Other companies in the same space, such as Jefferies Financial Group Inc. (JEF - Free Report) , WEX Inc. (WEX - Free Report) and Synchrony Financial (SYF - Free Report) have also lost 4%, 31.1.% and 17.6% in the same time frame.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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Euronet's Unit to Handle Transactions for Xbox Subscriptions
Euronet Worldwide, Inc.’s (EEFT - Free Report) epay division is chosen for managing monthly recurring billing between Microsoft and certain telecommunications retailers for the sales of Games Pass Ultimate and Xbox All Access subscriptions across the globe.
This deal covers a couple of Xbox offerings for customers. Xbox Game Pass Ultimate includes Xbox Game Pass for Console, Xbox Game Pass for PC, Xbox Live Gold and Microsoft’s recently introduced Cloud Gaming that allows access to above 100 AAA console games streamable to respective mobile Androids in 22 markets. This could be availed of at an inexpensive monthly price on a recurring monthly subscription basis.
There is another offering in which Xbox All Access provides the choice of an Xbox One console and accessories along with a recurring monthly subscription to Xbox Game Pass Ultimate to qualified customers.
Customers do not have to pay upfront expenses for the console at the point of purchasing.
This division of Euronet processed mobile top-ups and other transactions at telecommunications retailers worldwide and even took care of the distribution of Xbox’s digital gaming content.
With this deal, epay will be able to help Microsoft penetrate further into the cloud-based mobile gaming world. Per certain studies, the usage of mobile games is expected to rise owing to smartphone adoption and 5G networks. The same is expected to generate revenues worth $77.2 billion in 2020 globally, up 13.3% year over year.
The overall gaming market is also anticipated to exceed $200 billion by the end of 2023.
epay will be able to deliver the best results given its experience in catering to the evolving needs of the markets.
Epay is a leading full-service provider of payment processing and prepaid solutions that processed 1.5 billion transactions last year. In 2019, it contributed 28% to the company’s total revenues on the back of higher transactions, expansion of digital media products and SaaS solutions.
As of Jun 30, 2020, the segment operated through a network of around 703,000 POS terminals providing electronic processing of digital media and prepaid mobile airtime top-up services in Europe, the Middle East, the Asia Pacific, the United States and South America.
We expect this segment to continue performing well on robust online and in-app sales of digital media products and the surging retail sales of digital media products.
Shares of this presently Zacks Rank #3 (Hold) company have lost 37.1% in a year’s time, wider than its industry’s decline of 7.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other companies in the same space, such as Jefferies Financial Group Inc. (JEF - Free Report) , WEX Inc. (WEX - Free Report) and Synchrony Financial (SYF - Free Report) have also lost 4%, 31.1.% and 17.6% in the same time frame.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>