Euronet Worldwide Partners with Standard Chartered to Offer New Cloud-Based Dynamic Currency Conversion Services at ATMs in 14 Countries
LEAWOOD, Kan., Jan. 06, 2020 (GLOBE NEWSWIRE) — Euronet Worldwide (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, announced today it will provide Standard Chartered with dynamic currency conversion (DCC) services at approximately 1,000 ATMs in 14 countries across Asia Pacific and the Middle East using Euronet’s Digital Integrated Payments Cloud (DIPC).
Euronet was selected to provide DCC services on the ATMs using an intrabank, intercountry network Euronet constructed for Standard Chartered. The bank’s network connects to the DIPC to provide the DCC service on the ATMs on a transaction-by-transaction basis.
DCC provides international customers the option to pay in their own currency when using a VISA or Mastercard at an ATM or point of sale (POS) terminal rather than the local currency. The service removes uncertainty of costs for customers when withdrawing local currency from a foreign ATM by providing a transparent price that includes exchange rate calculations and service charges.
“This project demonstrates two of Euronet’s greatest assets with our ability to maintain ATM networks across large geographies and leverage our cloud-based technology to deliver value to our customers,” said Himanshu Pujara, Regional Managing Director, Asia Pacific. “The DCC offering will add significant value to Standard Chartered and help attract more foreign cardholders who prefer to use the DCC service when making transactions.”
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About Euronet Worldwide, Inc.
Euronet Worldwide is a leading global financial technology solutions and payments provider. Founded in 1994, 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, cash-based and online-initiated consumer-to-consumer and business-to-business money transfer services, electronic distribution of digital media and prepaid mobile phone time and other cloud-based financial technology solutions.
Euronet’s global payment network is extensive – including 47,209 ATMs, approximately 305,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 54 countries; card software solutions; a prepaid processing network of approximately 710,000 POS terminals at approximately 329,000 retailer locations in 52 countries; and a global money transfer network of approximately 389,000 locations serving 161 countries. With corporate headquarters in Leawood, Kansas, USA, and 65 worldwide offices, Euronet serves clients in approximately 170 countries. For more information, please visit the Company’s website at www.euronetworldwide.com.
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Euronet Worldwide, Inc.