Euronet aims to extend its money transfer services in Q1 of 2024
Euronet's Strong Q1 Performance Fueling Global Expansion
Euronet Worldwide, the payments technology company behind brands like Ria and Xe, is making strategic moves to capitalise on the growing digital remittance market and expand its B2B global payments services.
In a significant move, Euronet acquired CoreCard Corporation for $248 million, entering the $10 billion U.S. credit card market. This acquisition enhances Euronet's technological capabilities, enabling integration of CoreCard's platform with Euronet's Ren global payments network. The merger is expected to reduce costs and accelerate fintech partnerships, particularly in crypto-linked credit cards and embedded finance.
Digital remittance growth has been a key driver for Euronet. Revenues in this segment increased by 9% year-over-year to $457.9 million by Q2 2025, with a 29% jump in digital transactions. Notable integrations include major platforms like Google. Adjusted EBITDA grew 33% to $71.6 million, demonstrating strong operational leverage in this segment.
Euronet is also optimising its capital structure. It issued $850 million in low-interest (0.625%) convertible senior notes due 2030, reducing interest expenses and freeing up cash flow for growth initiatives. The company also has a $175 million share repurchase plan, signaling financial strength and confidence.
Euronet's global ATM network expanded to nearly 57,000 ATMs as of mid-2025, underpinning broader payments expansion.
Despite not providing specific details about new market entry, Euronet's strategic priorities for expansion in remittances and global B2B payments are clear. These include North American credit card market penetration and digital/crypto payment innovations.
Euronet is offering free access to a comprehensive range of research and analysis on cross-border payments globally. This includes the industry-leading newsletter. The account creation process requires no payment and involves creating a password, which can be reset if forgotten.
The company's Q1 2024 performance was strong, with a 9% increase in revenues to $857 million, primarily driven by its Electronic Funds Transfer (EFT) segment. Money transfer revenues rose by 7% to $384.6 million, with a corresponding 8% increase in transactions to 40.6 million.
A trend of wage growth versus declining inflation could lead to higher related travel spend in the upcoming quarters, potentially boosting digital transactions across Euronet's global network. However, it's not clear whether the growth in digital transactions is a result of new initiatives or existing trends within the industry.
In conclusion, Euronet is leveraging its strong financial performance to invest in technology acquisitions, expand digital remittance volumes, and refinance its debt to fund growth. This positions it to capitalise on the rapidly growing global digital remittance market and scale B2B payment services through integrated fintech solutions and cross-selling strategies across its global payment infrastructure.
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