Euronet Worldwide is a provider of electronic payment services based in Leawood, Kansas. It offers automated teller machines (ATMs), POS services, credit / debit card services, currency exchange and other electronic financial services. Among other things, it provides pre-paid Transact, PaySpot, e-pay, Movilcarga, TeleRecarga and ATX.
Founded in 1994 and based in Leawood, Kansas Brothers-in-law Dan Henry and Mike Brown.
In 1998, Euronet purchased ARKSYS, a computer software company specializing in electronic payment and transaction systems.
On January 23, 2002, Euronet Worldwide announced the establishment of a joint venture with Hong Kong-based First Mobile Group Holdings Limited.
In 2007, the company acquired Ria Money Transfer.
In 2013, Euronet acquired Pure Commerce, which enabled it to access a suite of SaaS-based applications. The following year, the British foreign exchange broker HiFX acquired access to cross-border payment transactions in the UK, Australia and New Zealand.
In July 2015, Euronet bought the popular currency conversion website xe.com.
It operates in three segments: electronic money transfer processing (EFT), prepaid processing and money transfer.
The EFT processing segment provides outsourcing and network services to financial institutions and mobile phone companies. This segment provided these services through a network of ATMs and POS terminals in Europe, Asia and the Middle East.
Prepaid Processing – ePay division distributes prepaid mobile broadcasting and other prepaid products and collections services for various prepaid products, cards and services. This segment operates in a network of offices in the United States, Europe, Africa, Asia and the Middle East. It also provides prepaid plans for long distance telephone cards, prepaid internet plans, prepaid debit cards and prepaid gift cards, as well as prepaid mobile content such as ring tones and games.
The Money Transfer segment provides global money transfer and payment services primarily in North America, the Caribbean, Europe and Asia-Pac.
Euronet faces criticism for high service charges and unfavorable exchange rates for its ATM offer. Dynamic currency conversion advocates argue that charges generally offer visibility to total costs at the time of the transaction.
In January 2019, the municipality of Amsterdam announced its plans to prevent the opening of new Euronet ATMs at the store facades, as Euronet “charges a large fee for cash withdrawals and uses unfavorable exchange rates” and does not contribute to the local environment. Euronet continues to work with the Amsterdam City Council on ATM services.