HAMBURG, Germany, July 10, 2014 (GLOBE NEWSWIRE) — cadooz GmbH, a subsidiary of Euronet Worldwide, Inc. (Nasdaq:EEFT), a leading full-service provider of vouchers, rewards, and incentives in Germany, today announces a partnership with leading music streaming service, Spotify, to distribute gift cards and voucher codes to business customers in 25 countries.
Through this agreement, cadooz will manage the end-to-end, business-to-business (B2B) sales and fulfilment process for Spotify. All corporate customer requests received by Spotify are redirected through a website developed by cadooz for fulfillment. Using technology developed by Euronet subsidiary, epay, voucher codes can be ordered directly and gift cards can be activated promptly. Additionally, the agreement allows Spotify to benefit from strong corporate demand without utilizing any internal resources as well as from cadooz' promotional experience running incentive campaigns - including bulk shipment, cobranding and peer-to-peer deployment for corporate customers.
"We are proud to be facilitating the entire B2B voucher business for Spotify in 25 European markets," says Volker Patzak, Vice President of Business Development at cadooz. "Spotify's strong brand recognition and our expertise in distributing voucher codes and gift cards, combined with epay's digital distribution technology, provide an innovative product offering for our Corporate clients." For more information on cadooz products and services, please visit www.cadooz.com.
cadooz is the leading full-service retailer of products and incentive solutions in Germany. We have been developing exciting, high-quality reward solutions for our customers for over 14 years. Our solutions are used to acquire new customers and for customer retention as well as for employee motivation. Well-known voucher brands such as BestChoice, DriversChoice and MovieChoice form the core of our solutions alongside the extensive range of rewards. Among other things, cadooz operates the PAYBACK reward shop, Germany's largest reward program. More than 3,000 business customers, from DAX companies to the smallest operation, rely on the expertise of cadooz. cadooz is a subsidiary of Euronet Worldwide. With the epay brand, Euronet markets digital and physical prepaid products worldwide.
About Euronet Worldwide, Inc.
Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, cash-based and online-initiated consumer-to-consumer and business-to-business money transfer services, and electronic distribution of prepaid mobile phone time and other prepaid products.
Euronet's global payment network is extensive - including 18,558 ATMs, approximately 67,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 44 countries; card software solutions; a prepaid processing network of approximately 647,000 POS terminals at approximately 289,000 retailer locations in 34 countries; and a consumer-to-consumer money transfer network of approximately 219,000 locations serving 135 countries. With corporate headquarters in Leawood, Kansas, USA, and 53 worldwide offices, Euronet serves clients in approximately 155 countries. For more information, please visit the Company's website at www.euronetworldwide.com.
Spotify is an award-winning digital music service that gives you on-demand access to over 20 million tracks. Its dream is to make the entire world's music available instantly to everyone, wherever and whenever they want it. Spotify makes it easier than ever to discover, manage and share music with your friends, while making sure that artists get a fair deal. Spotify is now available in 55 markets.
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