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Euronet (EEFT) Signs Agreements to Enhance ATM Expansion
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Euronet Worldwide, Inc. (EEFT - Free Report) recently announced its ATM asset purchase and ATM outsourcing agreements with APLITT SPOLKA AKCYJNA (“APLITT”). With this deal, the company would acquire 167 off-site ATMs, currently under the Global Cash brand located in high-traffic and popular areas.
The ATMs will be re-branded under Euronet’s name and included in Euronet’s independent ATM network. Moreover, the company also signed an agreement for ATM outsourcing and network participation of 304 ATMs at Kasa Stefczyka branches, presently working under the SKOK24 brand. These ATMs will be co-branded with both the Euronet and SKOK24 brands.
With an array of agreements taking place, Euronet will be providing a complete managed service for its outsourced ATMs, which would also include 24/7 customer support service. It will use the present functionality and user experience at the SKOK ATMs. Going forward, it will also upgrade some of the ATM units and turn them into full self-service Automated Deposit Terminals (ADTs) that would offer additional services such as cash deposit to the users. By inking this deal, SKOK would expand its customer reach through Euronet’s vast country-wide ATM network consisting of more than 8,000 ATMs/ADTs in Poland.
Earlier in the year, the company also signed two other ATM outsourcing contracts and network participation agreements. The former included 193 in-branch ADTs, owned and operated by Credit Agricole in Poland, while the latter involved 60 Piraeus Bank ATMs in Romania, earlier operated by the bank. The company has managed to add more than 750 outsourcing ATMs year to date.
With its vast knowledge and expertise in the field, Euronet acts as a catalyst in the ATM consolidation wave, which is offering a strategic forward leap to banks and financial institutions. The operating model allows offloading ATM networks from a bank or financial institutions’ balance sheet along with securing the business.
Additionally, the company is focusing on enriching customer experiences, providing them with wider options. The company is capable of taking up new adaptations in terms of introducing services like cash deposits, EMV compliance, multicurrency dispensing, cardless cash transactions, etc.
The company’s ATM expansion in India and several European countries with the buyout of YourCash and the launch of Amazon cash across 19000 retail locations in the United States are integral to its growth strategy.
Shares of this Zacks Rank #2 (Buy) have rallied nearly 15% year to date against its industry’s decline of 13.9%.
Other Key Picks
Investors looking for other top-ranked stocks in the same industry might also consider On Deck Capital, Inc. , Athene Holding Ltd. and Ally Financial Inc. (ALLY - Free Report) .
On Deck Capital operates an online platform for small business lending in the United States, Canada and Australia. It managed to deliver positive results in three of the trailing four quarters with an average beat of 58.3%. Its stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Athene, a retirement services company, issues, reinsures and acquires retirement savings products in the United States, the District of Columbia and Germany. With a Zacks Rank of 1, it pulled off a trailing four-quarter earnings surprise of 15.03%.
Ally Financial provides various financial products and services for consumers, businesses, automotive dealers and corporate clients in the United States and Canada. It carries a Zacks Rank of 2 and came up with an average four-quarter positive surprise of 13.15%.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
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Euronet (EEFT) Signs Agreements to Enhance ATM Expansion
Euronet Worldwide, Inc. (EEFT - Free Report) recently announced its ATM asset purchase and ATM outsourcing agreements with APLITT SPOLKA AKCYJNA (“APLITT”). With this deal, the company would acquire 167 off-site ATMs, currently under the Global Cash brand located in high-traffic and popular areas.
The ATMs will be re-branded under Euronet’s name and included in Euronet’s independent ATM network. Moreover, the company also signed an agreement for ATM outsourcing and network participation of 304 ATMs at Kasa Stefczyka branches, presently working under the SKOK24 brand. These ATMs will be co-branded with both the Euronet and SKOK24 brands.
With an array of agreements taking place, Euronet will be providing a complete managed service for its outsourced ATMs, which would also include 24/7 customer support service. It will use the present functionality and user experience at the SKOK ATMs. Going forward, it will also upgrade some of the ATM units and turn them into full self-service Automated Deposit Terminals (ADTs) that would offer additional services such as cash deposit to the users. By inking this deal, SKOK would expand its customer reach through Euronet’s vast country-wide ATM network consisting of more than 8,000 ATMs/ADTs in Poland.
Earlier in the year, the company also signed two other ATM outsourcing contracts and network participation agreements. The former included 193 in-branch ADTs, owned and operated by Credit Agricole in Poland, while the latter involved 60 Piraeus Bank ATMs in Romania, earlier operated by the bank. The company has managed to add more than 750 outsourcing ATMs year to date.
With its vast knowledge and expertise in the field, Euronet acts as a catalyst in the ATM consolidation wave, which is offering a strategic forward leap to banks and financial institutions. The operating model allows offloading ATM networks from a bank or financial institutions’ balance sheet along with securing the business.
Additionally, the company is focusing on enriching customer experiences, providing them with wider options. The company is capable of taking up new adaptations in terms of introducing services like cash deposits, EMV compliance, multicurrency dispensing, cardless cash transactions, etc.
The company’s ATM expansion in India and several European countries with the buyout of YourCash and the launch of Amazon cash across 19000 retail locations in the United States are integral to its growth strategy.
Shares of this Zacks Rank #2 (Buy) have rallied nearly 15% year to date against its industry’s decline of 13.9%.
Other Key Picks
Investors looking for other top-ranked stocks in the same industry might also consider On Deck Capital, Inc. , Athene Holding Ltd. and Ally Financial Inc. (ALLY - Free Report) .
On Deck Capital operates an online platform for small business lending in the United States, Canada and Australia. It managed to deliver positive results in three of the trailing four quarters with an average beat of 58.3%. Its stock sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Athene, a retirement services company, issues, reinsures and acquires retirement savings products in the United States, the District of Columbia and Germany. With a Zacks Rank of 1, it pulled off a trailing four-quarter earnings surprise of 15.03%.
Ally Financial provides various financial products and services for consumers, businesses, automotive dealers and corporate clients in the United States and Canada. It carries a Zacks Rank of 2 and came up with an average four-quarter positive surprise of 13.15%.
5 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2018 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs. A bonus Zacks Special Report names this breakthrough and the 5 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains.
Click to see them right now >>