Euronet Worldwide has reached an agreement to acquire CoreCard Corporation in an all-stock transaction valued at approximately USD 248 million.
The deal, subject to regulatory and shareholder approvals, is expected to close in the latter part of 2025.
The agreement outlines that CoreCard shareholders will receive between 0.2783 and 0.3142 shares of Euronet stock for each CoreCard share, with the final exchange ratio depending on the average trading price of Euronet stock during a specified period leading up to the closing.
CoreCard platform to be integrated with Euronet's systems
Euronet officials stated that the merger will allow for the integration of CoreCard’s credit card issuing and processing technology into Euronet’s existing Ren payment platform. The move is aimed at strengthening Euronet’s capabilities in digital card services and expanding its footprint in the US credit card market.
Company representatives indicated that the transaction is expected to contribute to earnings within the first full year following completion. They also pointed to CoreCard’s existing partnerships with major financial institutions, including a prominent US investment bank and a fintech linked to a cryptocurrency exchange, as a foundation for potential expansion. The acquisition comes as Euronet continues to increase its focus on digital infrastructure and services in the payments space.
A closer look at CoreCard
CoreCard has posted notable financial gains in early 2025. The company reported 300% earnings growth in Q1 and 28% sales growth, up from 22% in the prior quarter, marking three consecutive quarters of accelerating expansion, according to Investors.
However, reports indicate CoreCard faces uncertainty as Apple appears to be shifting its card partnership from Goldman Sachs to JPMorgan. With Apple’s credit platform no longer expected to rely on CoreCard, the company risks losing its largest client, one that represented more than half of its revenue.
