Euronet Worldwide Inc - EEFT STOCK NEWS

Euronet (NASDAQ: EEFT) has unveiled a comprehensive rebranding initiative, introducing a new logo and mission statement aimed at enhancing global financial inclusion and showcasing its evolution as a financial technology leader. The refreshed identity includes a modern logo that pays homage to the company's origins. Plans for rollout involve updating digital assets first, with physical updates to follow throughout 2023. Euronet operates a vast global payment network, boasting over 51,000 ATMs and extensive card and money transfer services in more than 200 countries.

Euronet Worldwide, Inc. (NASDAQ: EEFT) announced its Ren Payments Platform will power the digital payments transformation at Bank Neo Commerce (BNC) in Indonesia. The partnership aims to enhance speed, accessibility, and safety of digital payments for BNC's customers, with a focus on card and account-based transactions. Indonesia's digital payment market has grown 500% in five years, projected to expand further. BNC aims to add 15 million customers by year-end 2022, leveraging Euronet's robust infrastructure and technology to reach the underbanked population.

UnionPay and epay have launched a QR code payment service in Europe, allowing millions of UnionPay card users, including Chinese tourists, to make mobile payments at European retailers. This partnership marks the first time UnionPay's QR payments can be settled in Europe, expanding epay's portfolio and enhancing its position as a leading payment aggregator. UnionPay, with over 190 million cards issued globally, aims to support a cashless society and provide secure payment solutions to customers. The service integrates with existing payment infrastructures and offers extensive value-added services.

Euronet Worldwide announced the appointment of Ligia Torres to its Board of Directors, effective December 6, 2022, increasing the board size to nine members. Torres brings over 30 years of experience in the financial sector, primarily with BNP Paribas, and expertise in capital markets and asset management across multiple regions, including Latin America and Europe. Her appointment aims to enhance Euronet's strategic growth and governance as the company continues to expand its global services.

Euronet Worldwide (NASDAQ: EEFT) has partnered with the Africa Electronic Trade Group to develop a real-time cross-border payments gateway for the African Continental Free Trade Area (AfCFTA), serving over 1.4 billion people and facilitating transactions among 44 of the 54 participating countries. Utilizing Euronet’s Ren payments technology, this initiative aims to enhance financial inclusion and economic growth across Africa, potentially boosting the continent's income by $450 billion by 2035 and lifting millions out of poverty. The partnership aligns with the African Union's objectives to remove trade barriers and foster intra-Africa commerce.

Ria Money Transfer has announced its acquisition of Sikhona Forex, a leading money transfer operator in South Africa. This strategic move enhances Ria's presence in Africa, allowing it to offer faster and more affordable cross-border money transfer services. With a license from the South Africa Reserve Bank, Ria can integrate Sikhona's digital capabilities and existing customer base, which includes significant cross-border traffic. The remittance market in South Africa is valued at $4 billion, projected to grow 4% annually through 2025, indicating robust future growth potential.

Euronet Worldwide (NASDAQ: EEFT) has announced a strategic collaboration with TNG Digital to enhance the Touch ‘n Go eWallet in Malaysia, serving 18 million users. This partnership allows users to access funds for various transactions, including e-commerce, ATMs, and in-store payments. TNG Digital is also launching a prepaid card linked to the eWallet, expanding its reach to over 80 million Visa merchants globally. The REN payments platform will support these initiatives with advanced features. The collaboration aims to position TNG Digital as a leading e-Payments provider in Malaysia.

Euronet Worldwide, Inc. (NASDAQ: EEFT) has amended its unsecured revolving credit facility, increasing it from $1.030 billion to $1.250 billion, and extending the maturity date to October 24, 2027. This facility includes a sublimit of $250 million for letters of credit and $75 million for U.S. dollar swingline loans. The transition from LIBOR to a recommended benchmark interest rate reflects the company's strong financial position, as noted by CFO Rick Weller. This increased capacity supports Euronet's strategic growth initiatives and aims to enhance shareholder value.

Euronet Worldwide reported a strong performance for Q3 2022, with revenues reaching $931.3 million, a growth of 14% year-over-year. Operating income increased 47% to $168.5 million, while adjusted EBITDA rose 36% to $211.6 million. Net income attributable to Euronet was $97.7 million, translating to $1.87 diluted earnings per share, a significant increase from $73.9 million or $1.37 per share in the previous year. The company anticipates full-year adjusted EPS in the range of $6.30 to $6.40.