Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Fintech

Euronet Worldwide, Inc. Completes Purchase of Merchant Acquiring Business of Piraeus Bank in Greece

Published

on

 

Euronet Worldwide, Inc. (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, announced the completion of the purchase of the Piraeus Bank Merchant Acquiring (PBMA) business of Piraeus Bank (Bank) in Greece.

Originally announced on March 16, 2021, Euronet’s completed purchase of PBMA’s acquiring services and assets includes approximately 205,000 POS terminals at 170,000 merchants throughout Greece as well as the Bank’s online merchant acquiring business. The in-store acquiring business represents approximately 20 percent of Greece’s market while PBMA’s online merchant acquiring represents approximately 40 percent of online and digital transactions in the country.

The acquisition also includes a separately negotiated agreement for a long-term strategic partnership with the Bank for collaborative product distribution, processing and customer referrals.

Acquisition Caps Long History of Cooperation Between Euronet and Piraeus

These agreements are the latest in a series of partnership arrangements with Piraeus dating back to the early 2000s. With the closing of this acquisition, Euronet and the Bank enter into a new long-term strategic partnership for a 20-year period, during which Euronet will enhance acquiring capabilities for the bank’s customers using its REN payments platform. The Bank, which has more than 400 branches throughout Greece, will support Euronet with related operational and commercial services and receive commissions for merchant acquiring referrals.

“The completion of this acquisition is another milestone in the growth of Euronet as a global leader in the payments industry,” said Michael J. Brown, Chairman and CEO of Euronet Worldwide, Inc. “We have increased our footprint in a market where we have a long history of success and deep knowledge of the payments products that are in demand by consumers and businesses. The innovative capabilities of REN are a perfect fit for this environment and we are ready to capitalize on our expanded opportunities in Greece.”

Euronet to Offer Acquiring Services as Well as Additional Payments Products

The PBMA acquisition expands Euronet’s omnichannel payments strategy where the company uses its own proprietary technology to provide cash, card-based acquiring solutions, alternative payment acquiring, online acquiring, tokenized payment services and other payment products.

Euronet is now positioned in the middle of Greece’s increasing demand for merchant acquiring services, which is being driven by the ease and efficiency of digital payments, governmental mandates and increased consumer requests for non-cash payments during the COVID-19 pandemic. This demand is expected to continue its upward trend as research indicates that the domestic acquiring volume in Greece will double from approximately €30 billion (US$33 billion) in 2020 to nearly €60 billion (US$66 billion) by 2031.

Euronet will extend the capabilities of its REN payments platform to the Greek market to provide a variety of enhanced cash-based and digital payment solutions such as QR codes and other tokenized payment methods in digital wallets and payment apps directly to customers as well as to third-party businesses such as banks, fintechs and retailers.

REN’s open APIs also provide Euronet an opportunity to sell products and services from its other businesses (EFT, epay, Ria Money Transfer and Xe) to PBMA’s 170,000 merchants. Conversely, the acquiring capabilities of the PBMA platform can be offered to existing Ria and epay merchants.

Advertisement

“Piraeus Bank continues to innovate with the clear aim of providing a high level of banking experience and service, strengthening the dynamism of the Greek banking market,” said Christos Megalou, CEO of Piraeus Bank. “Knowing that the European payment framework is changing rapidly, we are confident that Euronet Worldwide is the most appropriate exclusive long-term strategic partner of Piraeus Bank for the best service to our Bank customers in the digital age and the joint promotion of new and innovative products and services.”

Fintech

Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA)

Published

on

fintech-pulse:-your-daily-industry-brief-(chime,-zbd,-mica)

 

As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.

Chime’s Quiet Step Toward Public Markets

Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.

With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.

Source: Bloomberg

ZBD’s Pioneering Achievement: EU MiCA License Approval

ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.

MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.

Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.

Source: Coindesk, PR Newswire

Advertisement

The Fintech-Credit Union Synergy: A Blueprint for Innovation

The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.

This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.

Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.

Source: PYMNTS

Tackling Student Loan Debt: A Fintech’s Mission

Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.

The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.

As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.

Source: RBJ

Industry Implications and Takeaways

Today’s updates underscore several key themes shaping the fintech landscape:

  1. Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
  2. Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
  3. Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
  4. Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.

 

The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.

Advertisement
Continue Reading

Fintech

SPAYZ.io prepares for iFX EXPO Dubai 2025

Published

on

spayz.io-prepares-for-ifx-expo-dubai-2025

Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.

SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.

Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.

“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”

Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.

The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.

Continue Reading

Fintech

Airtm Enhances Its Board of Directors with Two Strategic Appointments

Published

on

airtm-enhances-its-board-of-directors-with-two-strategic-appointments

Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.

“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”

Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.

Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.

The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.

Continue Reading

Trending