Euronet Worldwide, Inc. to use REN Payments Technology in Collaboration with Jalin to Modernize the Enterprise Payments System of Indonesia’s Largest State-Owned Banking Network
New REN-powered system to manage growth of digital payments in the region and potential for billions of annual transactions from ATMs, point-of-sale terminals and QR code payments
LEAWOOD, Kan. (Dec 14, 2021) – Euronet Worldwide, Inc. (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, announced today its REN payments platform will be used to modernize the largest state-owned bank switching network in Indonesia, PT Jalin Pembayaran Nusantara (“Jalin”).
Studies suggest as many as 85% of consumers in Southeast Asia at the beginning of 2021 were using some form of digital payments. This rapid adoption of cashless payments and requests from participant financial institutions for modern and resilient payments processing solutions motivated Jalin to embark on a platform modernization strategy that would enable it to launch new services as well as improvements to existing services in the shortest possible time. After an extensive RFP process, Euronet and the REN payments platform was awarded the project.