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Euronet (EEFT) Expands ATM Network in Spain With 8 Banks
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Euronet Worldwide, Inc. (EEFT - Free Report) recently inked network participation agreements with eight banks across Spain. These agreements are part of Euronet’s ATM Network Participation Program, which intends to extend reach of the company’s ATM network in an effort to benefit both banks and consumers.
By being part of the program, the banks will benefit from inclusion of more customer touch points without incurring capital expenditure. It is worth mentioning that Euronet’s ATMs situated in convenient high traffic locations and rural areas strengthen the participating banks’ ability to reach its customers. In fact, the latest move of including eight more banks in its ATM shared network provides cardholders of these banks access to Euronet’s thousands of ATMs across Spain.
Notably, access to Euronet’s ATM network will offer consumers an easy access to cash at more locations, and other cash services including cash deposits, multicurrency dispenses, contactless features and card-less cash transactions.
With hassle-free integration into each bank’s system, Euronet’s globally recognized expertise and constant technological upgradations in the ATM estate ensure safety and security of ATM operations. The onboarding of banks in its ATM network is made further easier via Euronet’s REV Payments Cloud that boasts of a modular and API-driven architecture, which forms part of the company’s REN Ecosystem. With a portfolio of enhanced payments solutions offering high security, the solution seems to be apt for banks seeking strategic alternatives for enhancing the operational efficiencies of their ATM networks. The same also helps in broadening the banks’ product offerings to customers.
Shares of this Zacks Rank #1 (Strong Buy) company have gained 37.8% in the past six months against the industry’s decline of 3.9%.
The latest move reinforces the company’s efforts to ramp up ATM consolidation across its countries of operations. The initiative also bolsters the company’s presence in Europe. With ATMs in around 30 countries and over 40 network participation agreements in effect, Euronet remains well-poised to continue launching innovative solutions and cutting-edge technologies for boosting its ATM network.
In December 2020, the company acquired Bank of Ireland’s entire fleet of non-branch ATMs in the Republic of Ireland. Per the deal, the leading company will acquire 700 non-branch ATMs and manage the newly-purchased ATM network and integrate it within its current ATM estate in the country. Also, the company will make additional investments in enhancing the ATMs with cutting-edge technology and new functionality, thereby benefiting customers.
The company’s enhanced product portfolio and growing alternative global payout capabilities are likely to position Euronet well for long-term growth. Also, the growing popularity of contactless payments provide the perfect ground for the company to bank on with innovative payments solutions.
Synchrony Financial, Jefferies Financial Group and Ameris Bancorp have a trailing four-quarter earnings surprise of 11.84%, 333.78% and 22.44%, on average, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
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Euronet (EEFT) Expands ATM Network in Spain With 8 Banks
Euronet Worldwide, Inc. (EEFT - Free Report) recently inked network participation agreements with eight banks across Spain. These agreements are part of Euronet’s ATM Network Participation Program, which intends to extend reach of the company’s ATM network in an effort to benefit both banks and consumers.
By being part of the program, the banks will benefit from inclusion of more customer touch points without incurring capital expenditure. It is worth mentioning that Euronet’s ATMs situated in convenient high traffic locations and rural areas strengthen the participating banks’ ability to reach its customers. In fact, the latest move of including eight more banks in its ATM shared network provides cardholders of these banks access to Euronet’s thousands of ATMs across Spain.
Notably, access to Euronet’s ATM network will offer consumers an easy access to cash at more locations, and other cash services including cash deposits, multicurrency dispenses, contactless features and card-less cash transactions.
With hassle-free integration into each bank’s system, Euronet’s globally recognized expertise and constant technological upgradations in the ATM estate ensure safety and security of ATM operations. The onboarding of banks in its ATM network is made further easier via Euronet’s REV Payments Cloud that boasts of a modular and API-driven architecture, which forms part of the company’s REN Ecosystem. With a portfolio of enhanced payments solutions offering high security, the solution seems to be apt for banks seeking strategic alternatives for enhancing the operational efficiencies of their ATM networks. The same also helps in broadening the banks’ product offerings to customers.
Shares of this Zacks Rank #1 (Strong Buy) company have gained 37.8% in the past six months against the industry’s decline of 3.9%.
The latest move reinforces the company’s efforts to ramp up ATM consolidation across its countries of operations. The initiative also bolsters the company’s presence in Europe. With ATMs in around 30 countries and over 40 network participation agreements in effect, Euronet remains well-poised to continue launching innovative solutions and cutting-edge technologies for boosting its ATM network.
In December 2020, the company acquired Bank of Ireland’s entire fleet of non-branch ATMs in the Republic of Ireland. Per the deal, the leading company will acquire 700 non-branch ATMs and manage the newly-purchased ATM network and integrate it within its current ATM estate in the country. Also, the company will make additional investments in enhancing the ATMs with cutting-edge technology and new functionality, thereby benefiting customers.
The company’s enhanced product portfolio and growing alternative global payout capabilities are likely to position Euronet well for long-term growth. Also, the growing popularity of contactless payments provide the perfect ground for the company to bank on with innovative payments solutions.
Other Stocks to Consider
Some other top-ranked stocks in the finance space include Synchrony Financial (SYF - Free Report) , Jefferies Financial Group Inc. (JEF - Free Report) and Ameris Bancorp (ABCB - Free Report) , each sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Synchrony Financial, Jefferies Financial Group and Ameris Bancorp have a trailing four-quarter earnings surprise of 11.84%, 333.78% and 22.44%, on average, respectively.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>