Euronet Services SRL, Euronet Worldwide’s (Nasdaq: EEFT) Romanian subsidiary, announces the extension of the multiyear agreement to provide end-to-end ATM, EFT POS and transaction gateway outsourcing services to Raiffeisen Bank S.A. – the third largest retail bank in Romania and one of the largest network banks of Raiffeisen International Bank-Holding AG, said the company in a statement.
Under the renewed agreement, Euronet will continue to provide to Raiffeisen Bank Romania end-to-end ATM and POS management services, as well as Visa and MasterCard transaction gateway services until September of 2011.
“Euronet’s outsourcing services provide us the flexibility and operational excellence we demand in a cost effective way,” said Carl Rossey, Chief Operating Officer of Raiffeisen Bank Romania. “Our existing relationship with Euronet has allowed us to focus on better serving our customers by investing more resources to grow our position as a leading retail bank in the country. We look forward to continuing our successful and mutually beneficial relationship with Euronet.”
Raiffeisen Bank Romania is a subsidiary of Raiffeisen International Bank-Holding AG (Raiffeisen International), a fully consolidated subsidiary of Raiffeisen Zentralbank Österreich AG (RZB). RZB in turn is the central institution of the Austrian Raiffeisen Banking Group (RBG), the country’s most powerful banking group. Euronet works with Raiffeisen International subsidiaries in several countries, including Raiffeisenbank Austria d.d. in Croatia and ATM outsourcing agreements with Tatra Bank in Slovakia.
“The extension of the agreement with Raiffeisen Bank Romania, which is yet another example of our customer’s confidence in our proven outsourcing solutions, will enable Raiffeisen Romania to grow its presence in Romania”, said Jacob Claflin, Managing Director of Euronet Services SRL.
About Euronet Services SRL (Romania)
Euronet Services SRL is the Romanian subsidiary of Euronet Worldwide and is the Romanian market leader in third party ATM, POS and Card management services and front office software services to banks throughout the Romanian market.
About Euronet Worldwide
Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers outsourcing and consulting services, integrated EFT software, network gateways, electronic prepaid top-up services to financial institutions, mobile operators and retailers, as well as electronic consumer money transfer and bill payment services via Euronet Payments and Remittance, Inc. The Company has processing centers located in the U.S., Europe and Asia, and processes electronic top-up transactions at more than 265,000 point-of-sale terminals across approximately 157,000 retailers in Europe, Asia Pacific, Africa and the U.S. With corporate headquarters in Leawood, Kansas, USA, and 26 worldwide offices, Euronet serves clients in more than 80 countries. For more information, visit the Company’s web site at www.euronetworldwide.com.
About Raiffeisen Bank Romania
Raiffeisen Bank is a top universal bank on the Romanian market, providing a complete range of high quality products and services to private individuals, SMEs and large corporations via multiple distribution channels: banking outlets (more than 260 throughout the country), ATM and EPOS networks, internet-banking (Raiffeisen Online), phone-banking (Raiffeisen Direct) and mobile-banking (myBanking).
Raiffeisen Bank Romania has resulted from the merger in June 2002 of the two Raiffeisen Group banks present on the local market Raiffeisenbank (Romania) S.A., established in 1998 as a subsidiary of RZB Austria and Banca Agricola Raiffeisen S.A. established in April 2001, after the takeover by RZB Austria of the Romanian state-owned Banca Agricola. The bank services more than 2 million customers. The excellent results of Raiffeisen Bank were recognized by well-known foreign and Romanian publications. The British magazine Euromoney awarded Raiffeisen Bank the title “Best investment bank in Romania”, while Global Finance nominated Raiffeisen Bank “Best Bank in Romania” for two years in a row, 2004 and 2005.
