Euronet Worldwide Inc - EEFT STOCK NEWS

epay, a segment of Euronet (NASDAQ: EEFT), has launched Skylight, a cloud-based platform designed to enhance compliance monitoring for financial transactions at money services businesses. Skylight features a user-friendly, no-code interface that allows compliance analysts to create and manage business rules without IT assistance. The platform integrates analytics to identify priority compliance issues and reduces false positives, streamlining follow-up tasks such as Suspicious Activity Report submissions. Initially available on AWS and Azure, Skylight aims to modernize compliance management amid rising transaction complexities, offering a holistic approach to risk mitigation.

Euronet (NASDAQ: EEFT) will release its first quarter 2023 earnings results on May 3, 2023, before the market opens. A conference call to discuss the results will take place at 9:00 a.m. ET on the same day. Interested participants can join via a webcast or by registering for dial-in information. Euronet has built a vast global payment network that includes over 50,700 ATMs and approximately 613,000 EFT POS terminals across 65 countries. With services extending to money transfers and card processing, Euronet aims to enhance digital payment solutions worldwide.

Ria Money Transfer, a leader in cross-border money transfer and a segment of Euronet (NASDAQ: EEFT), has announced a sponsorship deal with the Italian football club FC Internazionale Milano through the 2025 season. This partnership aims to increase brand visibility in Italy and globally, leveraging Inter’s fanbase of over 500 million. Ria plans to utilize in-stadium displays, digital channels, and hospitality events to enhance its presence during matches. CEO Juan Bianchi emphasized the shared values of passion and teamwork between Ria and Inter, indicating the sponsorship as a strategic move for community engagement and brand growth.

Paysera has partnered with Ria Money Transfer, a leader in the cross-border money transfer sector, allowing clients to send money to over 522,000 cash pickup locations in 152 countries, rather than just bank accounts. This service is aimed particularly at migrants in Europe and Ukrainians seeking to send financial support back home. The World Bank projects a 2% growth in remittances to low- and middle-income countries in 2023, totaling $639 billion. By providing cash pickup options, Paysera enhances its market position and offers vital support to individuals without bank accounts.

Ria Money Transfer, a segment of Euronet (NASDAQ: EEFT), has partnered with ACLEDA Bank Plc. to enhance its money transfer services in Cambodia. This partnership adds nearly 300 cash pickup and payout locations, increasing Ria's total to 4,318 in the country. The services include cash payments, collection in both KHR and USD, and account deposits, facilitating real-time transactions for Cambodians worldwide. In 2022, overseas Cambodians sent $1.25 billion back home, marking an 8% increase from the previous year. This collaboration aims to strengthen Ria's regional presence and financial accessibility for its clients.

Euronet (NASDAQ: EEFT) reported strong financial results for Q4 and FY 2022, highlighting a 7% increase in Q4 revenues to $865.7 million, up from $811.5 million in Q4 2021. Operating income soared by 173% to $79.1 million, with net income reaching $67.7 million, or $1.31 EPS. For FY 2022, revenues grew 12% to $3.36 billion, with net income of $231 million or $4.41 EPS. The company anticipates Q1 2023 adjusted EPS of $0.85, a 23% year-over-year growth. Euronet's diversified segments—EFT, Money Transfer, and epay—demonstrated resilience amidst macroeconomic challenges, with notable growth in international transaction volumes and digital solutions.

Euronet (NASDAQ: EEFT) has entered a significant agreement with LATAM digital wallet provider SOLFIN, set to provide complete issuing services for a minimum of 250,000 prepaid cards, potentially reaching up to 10 million in 10 years. This partnership is poised to expand SOLFIN's operations beyond Costa Rica and Guatemala, addressing the needs of unbanked consumers and small businesses in Central America. Euronet's Ren Payments Platform will manage the full card lifecycle, leveraging its SaaS model and customizable APIs to support SOLFIN’s wallet enhancements and growth in multiple countries and currencies.