In an effort to benefit retailers, epay, a Division of
Euronet Worldwide, Inc.
) has entered into a partnership with Europe's WorldPay.
Operating in over 40 countries, WorldPay a provider of merchant
accounts offers payment gateways for all sizes of companies,
fraud management, alternative payment methods and foreign
The motive of the partnership is to provide an opportunity to
retailers to utilize epay's new terminal with Streamline
Technology for receiving payments made through credit and debit
cards. Thus epay retailers can increase the card usage of the
customers who prefer to pay through cards instead of cash besides
drawing attractive commission rates from existing products.
Customers benefit from quick and simple transactions ensured by
the new technology.
By making use of devices that are convenient to use, the new
VX520 terminal with in-built card processing technology is
offering a number of card payment options in addition to its
current payment processing for all major debit and credit cards
). The terminal utilizes broadband connectivity.
The aim is to accelerate transaction speed to as much as two
seconds per transaction. This reduced transaction timing
will give scope to the independent stores to compete with big
names in the retail industry and cope up with bulk transactions
during peak times.
There has been a surge recently in card payments. As a result,
small and medium-sized businesses where cash was the only mode of
payment have been forced to come up with other payment systems.
This, however, has proved to be a boon to these businesses as it
has increased the number of customers as well as overall
According to a survey, adults in UK carry up to three cards
each on an average while 89% of the population carries minimum of
one debit or credit card. The Dunn & Bradstreet study
conducted in September 2012 suggests that when customers make
purchases using cards they tend to purchase 12-18% more than they
do with cash. Through this partnership, epay will enhance this
shopping trend by offering smooth and safe payment options.
Moneygram International New
Euronet engages in a number of partnerships and acquisitions to
strengthen and expand its operations. The company most recently
announced the purchase of Australia-based Pure Commerce with a
view to expand its market as well as strengthen its Asia Pacific
), which closely competes with Euronet, also entered into a
partnership recently with WorldPay to spread its
direct-to-account money transfer service in around 50 countries
Euronet currently holds a Zacks Rank #1 (Strong Buy), while
Moneygram carries a Zacks Rank # 3 (Hold).
EURONET WORLDWD (EEFT): Free Stock Analysis
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