epay Signs Long-Term Prepaid Processing Agreement for Boost Mobile, Virgin Mobile USA and Assurance Wireless
LEAWOOD, Kansas — September 28, 2011 — epay, a division of Euronet Worldwide, Inc. (NASDAQ: EEFT), a leading global electronic payments provider and distributor, today announced the signing of an exclusive agreement to process prepaid mobile airtime transactions in the independent retail segment for Boost Mobile, Virgin Mobile USA and Assurance Wireless.
These no-contract wireless brands are owned by Sprint [NYSE: S]. epay is a worldwide leader in servicing independent retailers and has invested in leading edge technology to support Sprint’s strategy to grow prepaid revenues in this important channel. epay’s strategy has advanced beyond simply processing transactions and evolved into providing needed business solutions for its partners.
epay has developed an array of integrated tools that provide mobile operators with the functionality to:
- Analyze - provide visibility that allows mobile operators to map their distribution networks, analyze retailer performance and better understand subscriber behavior.
- Control - influence distributor and subscriber behavior in order to own more of the customer experience and drive subscriber and revenue growth.
- Manage - provide the mobile operator and its distributor network with enhanced selling, commissioning and reporting systems to maximize retail performance.
“epay is committed to bringing the best technology and solutions to its partners,” said Eric Mettemeyer, Managing Director of epay Americas, “and when Sprint decided it needed a single solution for its prepaid independent distribution strategy, we committed the resources to building the tools and processes that would ensure Sprint’s success.”
“We were looking for a financially strong, innovative and long-term partner for our independent distribution strategy, and epay delivered,” said Jeff Auman, Sprint’s Vice President of Replenishment and Base Management. “Sprint is committed to the prepaid mobile market and with epay’s global experience in prepaid airtime distribution, we feel secure that we have aligned ourselves with an industry expert.”
epay, a Division of Euronet Worldwide, Inc. (NASDAQ: EEFT), is a global prepaid product provider and distribution network – enabling service providers to maximize the sales of their products and services. epay delivers innovative and tailored electronic payment, cash collection solutions including POS systems integration, a full settlement and reporting service and full marketing and distribution service support.
The epay product portfolio includes prepaid mobile top-up, prepaid debit cards, e-wallets, gift cards, digital music and other content, lottery, bill payment and money transfer through its sister company Ria, and transport payment solutions including road tolls and public transport.
epay delivers these products through a worldwide network of approximately 276,000 retailer locations and 588,000 points of sale (POS) across a number of markets including Australia, Austria, Brazil, France, Germany, India, Ireland, Italy, New Zealand, Poland, Romania, Spain, Switzerland, UK and the US.
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, consumer money transfer and bill payment services, and electronic distribution for prepaid mobile phone time and other prepaid products. Euronet's global payment network is extensive - including 12,058 ATMs, approximately 53,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 33 countries; card software solutions; a prepaid processing network of approximately 588,000 POS terminals at approximately 276,000 retailer locations in 29 countries; and a consumer-to-consumer money transfer network of approximately 133,000 locations serving 133 countries. With corporate headquarters in Leawood, Kansas, USA, and 44 worldwide offices, Euronet serves clients in approximately 150 countries. For more information, please visit the Company's website at www.euronetworldwide.com.