Over the last year, the world has really changed. Both in the way we conduct our lives, to how we shop, bank and pay for necessities.
The retail industry has seen the biggest changes. We’ve seen large retail chains collapsing, leaving way for the small independent chains to step up. With these smaller chains prioritising innovation and putting customer needs first, it’s no secret that it’s working…
With technology progressing faster than expected, the payments industry has also seen huge progressions! It does call into question… what will the future look like? Not only for the banks, but their customers as well. With operational costs increasing and budgets tightening, how can banks offer their customers much needed services such as ATMs and cash services – but at a fraction of the cost?
In a recent press release, Euronet Worldwide announced its partnership with 8 Spanish banks exactly addressing this particular question.
Euronet provides 1000’s of Spanish banking customers with access to a wider ATM network through its Network Participation Agreement (NPA).
In order to retain services for their customers, the banking industry is known to make tough decisions every day. So, how can they continue to offer their customers access to cash while considering operational cost reductions?
Euronet offers a glimmer of hope as ATM networks across Europe are affected by dwindling ATM numbers. Through this newly announced partnership, we are leveraging our ATM expertise and expanding the bank’s ATM estate by 1000’s. This will allow customers access to a wider ATM estate.
So, what is the ATM Network Participation Agreement?
Imagine being able to access more ATMs, without incurring fees or charges for not using a bank ATM. This is exactly what our ATM Network Participation solution can offer. With over 30 European countries already participating in this programme, we provide banks with the opportunity to immediately expand their ATM availability, via our network.
Transactions are processed by Euronet as an ‘on us’ transaction. This ensures that customers do not incur additional costs or fees that you would see at a non-bank ATM. Once the customer inserts their card into one of our ATMs, the screens will automatically revert to their banks recognised screen flow, including any marketing screens offering the banks services.
As part of our NPA solution, customers will have access to convenient high traffic locations and more rural locations. Our ATMs for the Community initiative supports this.
This agreement not only allows banks to immediately see operational efficiencies but it provides them with an opportunity to strategically review and enhance their product offerings to their customers.
Industry leading technology supports banks customers accessibility to a wider ATM network.
Euronet’s ATM NPA also provides banks with state-of-the-art payments technology through the company’s REV® Payments Cloud. REV is part of our state-of-the-art REN™ Ecosystem. This provides advanced payments processing and services with on-premises solutions or from a private cloud at our worldwide data centres.
Through REV, we can quickly, securely, and seamlessly onboard banks providing immediate flexibility to meet any future growth requirements. This includes services such as cash deposits, contactless payments and cardless transactions. We are also about to support digital product distribution from our extensive REN Ecosystem partners that are suitable for the mobile-first consumer.
Euronet Banking Solutions, a future partner…
This agreement, alongside the other 40 NPP participants shows how we are providing the banking industry with solutions that will:
- Allow customers to enjoy enhanced services.
- Allows future planning for banks, knowing their core ATM offering is being managed by industry experts.
“We are excited with the expansion of our ATM Network Participation Programme in Spain, and welcome all of our new partners to Euronet’s Shared Network.” said Nikos Fountas, Executive Vice President and Chief Executive Officer, Euronet Americas and EMEA EFT Processing Segment.
“The new agreements prove our strategy of being a catalyst of ATM consolidation in the countries we operate, to the benefits of our partner banks and their customers. Across Europe, we experience and drive a wave of ATM innovations, and we are confident that this trend will further accelerate.
We have the technology, the resources, the knowledge, and a solid value proposition that places us in the forefront of payments innovation, combining the physical and the digital world of payments.”
For more information on our state-of-the-art payments processing solution, or if you are considering consolidating part or all your ATM estate, please contact us directly.
Allow us to provide you with outsourcing solutions that will not only enhance your ATM estate and services for your customers, but reduce your costs, and refocus your resource.
You can also check out our solutions page where we mention our bank outsourcing initiative.
Get in contact with Euronet Banking Solutions here.