Euronet Worldwide Inc - EEFT STOCK NEWS

Ria Money Transfer, a subsidiary of Euronet Worldwide (EEFT), has announced a new partnership with Fiesta Mart, enhancing its money transfer services in Texas. This collaboration expands Ria's reach by adding 59 Fiesta Mart locations to its network, building on a ten-year relationship with Bodega Latina. Customers will benefit from various services such as bill payments and money orders, creating a one-stop-shop experience. CEO Juan Bianchi emphasized the strength of this partnership in delivering exceptional convenience and competitive pricing across multiple states.

Euronet USA, a division of Euronet Worldwide (NASDAQ: EEFT), has entered a 10-year partnership with Connected Processing Services to enhance transaction processing services. Utilizing Euronet's REN Foundation software, the collaboration aims to improve payment processing and digital wallet management for over 100,000 ATMs across the U.S.

Both companies expect this partnership will provide flexible solutions to meet evolving business needs, allowing Connected to capture more market share and streamline operations.

Ria Money Transfer has partnered with Thunes to enhance cross-border payment services, significantly expanding its reach to over 100 million mobile account users. This strategic collaboration allows Ria to offer direct fund transfers to mobile wallets and bank accounts in key markets across Asia, Africa, and LATAM. The partnership supports Ria's continued growth in digital services, leveraging Thunes' advanced technological capabilities. Both CEOs expressed their commitment to increasing accessibility to remittance services globally.

Euronet Worldwide (NASDAQ: EEFT) has announced a conference call to discuss its third quarter 2020 earnings results, set for October 28, 2020, at 9:00 a.m. Eastern Time. A webcast will be available, and playback can be accessed shortly after the presentation. Euronet is a leading global financial technology provider offering diverse payment solutions, including ATM services, card issuing, and money transfer services. The company's extensive network includes over 41,648 ATMs and a presence in approximately 170 countries.

Euronet Worldwide (NASDAQ: EEFT) announced that its epay division will manage monthly billing for Microsoft’s Xbox Game Pass Ultimate and Xbox All Access subscriptions globally. This agreement allows epay to leverage its existing relationships with telecommunications retailers to process sales of these gaming subscriptions. The deal taps into the burgeoning mobile gaming market, projected to generate $77.2 billion in 2020, as Xbox aims to expand its reach with cloud gaming across 22 markets. Xbox Game Pass has over 10 million members globally, bolstering this subscription model.

Euronet Worldwide (NASDAQ: EEFT) reported a challenging second quarter 2020, with revenues of $527.8 million, a 24% decrease from 2019.

Operating loss was ($101.3 million), contrasting sharply with operating income of $117.9 million the previous year. Net loss attributable was ($115.8 million) or ($2.18 per diluted share.

Despite significant challenges, the company maintained a strong balance sheet with over $1.2 billion in cash and no debt maturities for five years, enabling operational stability during the pandemic.

Ria Money Transfer has partnered with OXXO, Mexico's largest convenience store chain, to enhance money transfer options for customers. This collaboration allows users to receive up to $100 USD per transaction at OXXO's 19,000 locations, with cash withdrawals of up to 2,500 pesos available daily from 6 am to 10 pm. This service aims to meet the growing demand for remittance services, as Mexico ranks third globally in inbound remittances. Ria emphasizes its commitment to low fees and customer convenience, reinforcing its position as a leader in the money transfer market.

Ria Money Transfer, a subsidiary of Euronet Worldwide (NASDAQ: EEFT), has launched a new visual identity following a comprehensive rebranding initiative aimed at enhancing customer connection. The rebranding includes a new logo symbolizing individual users, and a contemporary design that honors Ria's diverse clientele. The company focuses on providing fast, affordable money transfer services globally, emphasizing the importance of being part of customers' lives. The rebranding aligns with Ria's expansion strategy and commitment to community support.

Euronet Worldwide appointed Michael N. Frumkin to its Board of Directors effective June 9, 2020. Frumkin is the founder of Google's Accelerated Science Team, bringing extensive experience in machine intelligence and software engineering. His prior roles include Chief Technology Officer at Gamechange and software engineer at NeXT and Excite. Euronet aims to leverage his expertise to enhance technology solutions in its operations.