Raiffeisen Bank Romania Signs an ATM and POS Outsourcing Agreement with Euronet

Wednesday 24 September 2003 16:22 CET | News

Euronet Worldwide has secured a multi-year agreement to provide end-to-end ATM, EFT POS and transaction gateway outsourcing services to Raiffeisen Bank S.A., the third largest retail bank in Romania and the largest Raiffeisen subsidiary outside of Austria.

Euronet will provide end-to-end ATM and EFT POS operation and management services, Visa and MasterCard transaction gateway routing, settlement, reporting services, stand-in processing and value-added services such as electronic recharge and bill payment for the banks current approximately 600 ATMs and 2,700 EFT POS terminals. Raiffeisen Bank plans to deploy an additional 300 ATMs and 3,300 EFT POS terminals in the first 24 months of this partnership. Raiffeisen Bank Romania has used Euronets Integrated Transaction Management software for their debit card, ATM, POS and merchant management systems since November of 1999. Leveraging these existing applications will significantly reduce the time and costs of migrating the Banks ATMs, EFT POS terminals and transaction routing services to the Euronet operations center, located in Budapest, Hungary. Raiffeisen Bank Romania represents the fourth ATM and the second EFT POS agreement with a Raiffeisen subsidiary for outsourcing services in central Europe with Euronet. Raiffeisen Bank Romania follows ATM and EFT POS agreements with Raiffeisenbank Austria d.d. in Croatia and ATM outsourcing agreements with Tatra Bank in Slovakia and Raiffeisen Bank Rt. in Hungary. It is Euronets first end-to-end ATM and EFT POS outsourcing project in the Romanian market.

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