Euronet Worldwide processes payment transactions on global ATMs and point of sale (POS) networks. Three main businesses are 1) prepaid phones, 2) Electronic Funds Transfer (EFT), cash transfer through Ria Financial , (Subsidiary ) of Euronet Worldwide which is growing very fact by providing best service, and 3) Software. The company also services credit/debit card outsourcing and related businesses. The company operates 26 offices in the US, Europe, Middle East and Asia Pacific regions.
Started in 1994 with the mission "to bring electronic payment convenience to millions of people." The company has grown internally and via acquisition. At the end of 2006 annual revenues were $630 million. The company turned EBITDA positive in 2001 and generated $89 million of adjusted EBITDA in 2006.
The company invested $6 million to expand in three main categories:
Transactions processed in millions
On a recent conference call, EEFT stated they are on a $1 billion annual run rate.
In 2006 the company added 450 ATMs in India.
A Retail Banking Research Report forecasts China will install 65,000 ATM machines between 2005 and 2011. EEFT completed a pilot project for the China Post Bank.
Retail Banking Research reports also state that the central European ATMs increase by 26% in 2005. EEFT has expanded into Ukraine and Bulgaria as banks expand retail offerings.
By Revenue in 2006:
By adjusted EBITDA in 2006:
Fortune Magazine ranked EEFT the 36th fastest growing company in 2006 and 34th in 2005
Forbes magazine ranked EEFT the 25th fastest growing company in 2007.