Apple Pay, PayPal, Google Pay, Alipay, digital wallets, and online payment services have grown in popularity with consumers in recent years.
While the user adoption rate has been rapid, the acceptance by many merchants has been much slower because of the expense and complexity of integrating them with existing systems.
Recognizing these challenges, Euronet developed its Digital Integrated Payments Cloud (DIPC) and REN Ecosystem to provide retailers, banks, financial institutions, and other customers a safe, fast, and simple payment processing solution for new and emerging digital payment methods.
With the DIPC, a single network connection provides access to Euronet’s portfolio of digital solutions including the ability to process Alipay, Google Pay, Paypal, Apple Pay, and virtually any other mobile payment method without requiring a merchant, FinTech, or other processor to overhaul or replace their existing systems.
For example, dm-drogerie markt, a leading drugstore retail chain in Germany, recently began to accept payments from the popular Chinese mobile payment solution Alipay thanks to a technical implementation by epay, a Euronet company. With this capability, dm-drogerie markt is making purchases in more than 1,900 stores easier for tourists from China and Hong Kong, who spend approximately 2.86 million overnight stays each year in Germany.
In addition to processing new digital payment methods, the DIPC also provides retailers, banks, and other Euronet customers access to our physical assets, including our worldwide network of ATMs and POS and Ria Money Transfer locations for cash payments and payouts.
With the REN Ecosystem, traditional and digital banks and other financial institutions can keep pace with the evolving payments landscape by implementing our solution in their data centers (physical or private cloud). The REN Ecosystem provides a framework and platforms for building processing solutions from small to large, including alternative payments and dozens of other solutions.