Euronet Worldwide, Inc., and Prosegur Cash Announce Joint Venture to Provide Comprehensive ATM Outsourcing Services to Latin America
LEAWOOD, Kan., and MADRID, May 19, 2021 — Euronet Worldwide (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, and Prosegur Cash (Spanish SE: CASH), a global Cash-In-Transit company with strong leadership in Latin America markets, announces an alliance between both parties through the establishment of a joint venture to provide comprehensive ATM outsourcing services and to own and deploy independent ATMs in the majority of the countries of Latin America.
The implementation of the alliance in the different countries is subject, among others, to obtaining the relevant authorizations from regulators, including, in particular, relevant antitrust authorizations.
The joint venture will leverage Euronet’s REN and REV® payments technologies such as its cloud-based processing and connections to domestic switches and bank hosts for authorizations. Euronet also brings its extensive portfolio of ATM driving solutions to the partnership for value added ATM transaction services as well its advanced ATM fleet management system.
Prosegur Cash will deliver established relationships with banks throughout Latin America to the joint venture along with experienced cash-in-transit services, first line ATM maintenance, ATM cash forecasting abilities, and extensive local market knowledge.