Euronet signs a large ATM outsourcing agreement in India

Thursday 9 December 2004 10:40 CET | News

Euronet Worldwide has signed a multiyear ATM outsourcing agreement with a large multinational bank in Mumbai, for their existing nationwide network of 245 ATMs. At this time, the name of the contracting bank remains undisclosed at the banks request.

As per this new agreement, Euronet will take over the operation of 245 existing ATMs from the bank in major cities across India before the end of the year. Euronet will provide ATM driving services from Euronets operations center in Mumbai and will provide all of the day-to-day outsourcing services, including transaction processing, network management and monitoring, security, cash forecasting and replenishment, help desk, incident management, maintenance and full reconciliation and settlement services. This innovative new deployment outsourcing model from Euronet, including site selection and asset ownership, provided the speed to market and flexibility demanded by the bank. In addition to ATM outsourcing services Euronet provides shared ATM networking services to the bank through its Cashnet shared ATM network. Cashnet is the largest nationwide multilateral shared ATM network in India today comprising of nine member banks with more than 3,400 ATMs across the country. Euronet also provides value added network services to the bank, in the form of online mobile phone recharge for its rapidly growing base of customers with four of the leading mobile phone operators in India.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce