Euronet Germany, (a division of Transact Elektronische Zahlungssysteme GmbH), a wholly owned subsidiary of Euronet Worldwide Inc. (NASDAQ: EEFT), announces the signature of contracts with R3 Group, a provider of financial services to the UK Military in Germany, and foreign exchange bureaus, including the UK-based International Currency Exchange (Intex) GmbH, for the placement of more than 50 ATMs in strategic, high-quality locations in Germany.
"Because Euronet is the only provider in the market that can offer Independent ATM Deployment (IAD) and ATM outsourcing services, we are able to provide financial institutions with operating efficiencies and cost savings to support this growing trend"
The agreements provide for deployment of ATMs in high-traffic locations, which are a key, proven success factor in the financial performance of each ATM. Placement of the ATMs includes a wide variety of locations such as the Frankfurt, Düsseldorf and Hamburg Airports, Checkpoint Charlie in Berlin, Hamburg Central Station and UK Military Bases in 13 German cities.
Each contract is 3-5 years in duration and includes 2-5 years of exclusivity for the provision of actual ATM devices, operations and management services. The new, state-of-the-art ATMs will be Euronet owned and operated, and will be equipped with fully loaded functionality to allow for a full range of value-added service products which provide additional value to Euronet customers.
"Our cooperation with Euronet is a reflection of trust in their capabilities. Euronet has a proven track-record in the market. Their SLAs guarantee optimal up-time and top KPI metrics for our military personnel. Additionally, Euronet's capabilities to deliver ATM value added services are unsurpassed in the market," stated Rob Proudman, Director of R3 Group, the leading provider of financial services products to the UK Military in Germany.
"We are delighted to be working in partnership with Euronet in Germany, as well as in other European markets," stated Paul Glossop, Retail Director of International Currency Exchange (Intex) GmbH.
"The contracts for the deployment of ATMs with several different strategic partners reflect a growing trend of banks and financial institutions to outsource the operation and management of their ATMs," stated Alfred Stettberger, Managing Director of Euronet Germany's EFT Division. "Because Euronet is the only provider in the market that can offer Independent ATM Deployment (IAD) and ATM outsourcing services, we are able to provide financial institutions with operating efficiencies and cost savings to support this growing trend," added Mr. Stettberger.