Euronet Worldwide reports news on a global payments and cross-border transaction business serving financial institutions, merchants, brands and consumers. Updates commonly cover the company's EFT Processing, epay and Money Transfer segments, including ATM and point-of-sale services, merchant acquiring, prepaid and digital content distribution, card processing and money transfer brands such as Ria, AFEX, IME and xe.
Recurring developments include quarterly operating results, digital money transfer growth, payment-infrastructure agreements, REN platform activity, Dandelion network partnerships, stablecoin payout capabilities, common stock repurchases, investor events and board governance changes. News also tracks expansion of merchant services and card-processing relationships within Euronet's global real-time digital and cash payments network.
Euronet (NASDAQ: EEFT), a global leader in financial technology and payments, has appointed Sergi Herrero to its Board of Directors, effective June 4, 2024. This appointment expands the board from nine to ten members. Herrero brings extensive experience in the payment and technology sectors, having served in C-level roles and on the boards of various fintech companies.
Currently, Herrero is the Chairman of the Board at Intix, a fintech specializing in transaction data analytics for banks and securities houses. He also serves on the board of Ezra, a fintech based in the Middle East, and was previously Meta's Global Director of Payments and Commerce. Herrero holds master's degrees in Management from the University of California, Berkeley, and Ramon Llull University in Spain, along with a BS in Electrical Engineering from Ramon Llull University.
Euronet (NASDAQ: EEFT) has successfully acquired about 800 ATM terminals from Payments Network Malaysia (PayNet), enhancing its position as the largest non-bank ATM operator in Malaysia. Effective April 1, 2024, these ATMs have been integrated into Euronet’s network, which utilizes its advanced Ren payments platform. This move aims to provide secure and reliable cash access to customers in both urban and rural areas across Malaysia. The acquisition aligns with Euronet’s global ATM Asset Acquisition Program, offering comprehensive ATM outsourcing services and supporting financial inclusion. A rebranding to Euronet's brand will be completed within the next year.
Euronet Worldwide, Inc. reported strong first-quarter 2024 financial results, with revenues of $857.0 million, a 9% increase year-over-year. The Company's operating income increased by 40% to $64.0 million, and adjusted EPS grew by 47% to $1.28. Euronet's cash and cash equivalents stood at $1,236.2 million as of March 31, 2024. CEO Michael J. Brown highlighted the record-breaking adjusted EPS and exceeded analyst expectations, signaling confidence in 10-15% annual adjusted EPS growth for 2024.
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