Euronet signs ATM outsourcing agreement with Centurion Bank in India

Thursday 17 February 2005 00:21 CET | News

Euronet Worldwide, Inc., a leading electronic payments provider, have announced a multiyear ATM outsourcing and deployment agreement with Centurion Bank, a leading new generation private sector bank in India.

Under the agreement, Centurion Bank will outsource its entire network of 152 ATMs to Euronet India. The company will take over the operation of the banks ATMs within the next sixty days and provide end-to-end ATM outsourcing services from its operations center in Mumbai. This agreement will include the full range of 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. Furthermore, Euronet will also be providing ATM outsourcing services for any new ATMs that are deployed by Centurion Bank. Commenting on the alliance, Mr. Shailendra Bhandari, managing director, Centurion Bank said, As a technology-savvy bank, we constantly upgrade our systems and look for new innovations in the market. Euronets ATM outsourcing and deployment model provides us with an opportunity to gain better cost and operational efficiencies. We have complete confidence in Euronets offerings, which enhances our customer focus by providing them a multitude of innovative convenient banking services. In addition to ATM outsourcing services, Euronet provides shared ATM networking services to Centurion Bank through its Cashnet network, the largest nationwide multilateral shared ATM network in India today comprising nine member banks with more than 3,500 ATMs across the country. Euronet also provides value added network services to the bank, in the form of online mobile phone recharge with three of the leading mobile phone operators in India. With the addition of Centurion Bank, Euronet now has ATM outsourcin contracts with seven leading private sector/multinational banks in India, said Daniel R Henry, Euronet Worldwide President and Chief Operating Officer. We are committed to building our business in Asia-Pacific, and will continue to make further investments enabling financial institutions in the region to outsource their ATM infrastructure to Euronet.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce