LEAWOOD, Kan., Dec. 19, 2019 (GLOBE NEWSWIRE) -- Euronet Worldwide (EEFT), a leading global financial technology solutions and payments provider, and Visa, the world’s leader in digital payments, today announced a strategic collaboration to fuel and sustain the growth of fintech companies in the Asia Pacific region.
The partnership utilizes Euronet’s Digital Integrated Payment Cloud (DIPC) and its full stack APIs to enable fintechs to manage the entire lifecycle of card issuing programs in digital or any other form factor. This capability combined with the DIPC’s sandbox and development tools provide one of the most advanced and developer friendly environments available to fintechs.
Euronet has substantially invested into Payments as a Service (PaaS) offerings powered by the DIPC to bring benefits of convenience, security, and quick go-to-market capabilities to fintechs as an on-demand partner. Euronet’s microservices-based technology and native cloud APIs produce geographically tailored payment experiences that currently power solutions for more than 20 customers in the Asia Pacific region including digibank for DBS in India and card services for Standard Chartered.
Asia Pacific is a hotbed of global innovation with 4.3 billion people, digital payment potential of $23 trillion by 2030, and heterogenous consumer behavior. It also presents a unique set of challenges for the fintech ecosystem. To counter such challenges, Euronet and Visa have designed a program with essential parameters to kick-start and accelerate fintech business momentum in the region such as:
Quick Go-To Market: Euronet and Visa have pre-connected touch points and more than a decade experience working together in the region with Euronet powering some of the largest Visa-branded multi-country card issuer programs in the region.
Ability To Change: Euronet offers the most sophisticated, highly configurable payment platforms with APIs, sandboxes, and efficient microservices for affecting change and building new feature functionality with no additional investment.
Local Infrastructure & Regulatory Experience: Euronet has invested into multiple private clouds and other infrastructure in the region to comply with regulations for on-soil processing and data centers in the region. Additionally, the company has operated in all major countries in the region for decades.
Program Management: Euronet supplies unique end-to-end program and technical operations management capabilities for fintechs so they have more time to concentrate on their own core businesses.
The DIPC has been certified Visa Ready for more than 15 Asia Pacific markets, including Indonesia, Malaysia, Philippines, Australia, Hong Kong, Japan, New Zealand, Singapore, India, China, Thailand, and Vietnam.
“Euronet is thrilled to partner with Visa on this initiative to empower fintech companies with critical card issuing services and other solutions,” said Kevin Caponecchi, Executive Vice President and CEO, epay, Software and EFT Asia Pacific Division. “Euronet’s industry leading digital processing platform, based on a full stack of open APIs, is backed by an established global footprint and delivers an ideal foundation for fintechs to get to market quickly and successfully.”
About Euronet Worldwide
Euronet Worldwide is a leading global financial technology solutions and payments provider. Founded in 1994, the company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, cash-based and online-initiated consumer-to-consumer and business-to-business money transfer services, electronic distribution of digital media and prepaid mobile phone time and other cloud-based financial technology solutions.
Euronet's global payment network is extensive - including 47,209 ATMs, approximately 305,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 54 countries; card software solutions; a prepaid processing network of approximately 710,000 POS terminals at approximately 329,000 retailer locations in 52 countries; and a global money transfer network of approximately 389,000 locations serving 161 countries. With corporate headquarters in Leawood, Kansas, USA, and 65 worldwide offices, Euronet serves clients in approximately 170 countries. For more information, please visit the Company's website at www.euronetworldwide.com.