July 10, 2006
Euronet to Provide Outsource Business
Euronet has decided to provide a range of day-to-day ATM outsourcing services and value-added network services. Euronet is an electronic payments provider. It has expanded its ATM outsourcing agreement with Centurion Bank of Punjab. As per the new outsourcing deal, Euronet will manage 408 ATMs of the Centurion Bank of Punjab (CBOP). Currently, Euronet operates 164 ATMs of the former Centurion Bank. Under the expanded agreement, CBOP will outsource the remaining 244 ATMs from its current network to Euronet India within the next 30 to 60 days. Euronet India will also provide value-added network services to the bank in the form of mobile phone recharge through ATM, SMS and the Internet channels.
Commenting on the alliance, Anil Jaggia, chief operating officer, Centurion Bank of Punjab, said, "By outsourcing our ATM network services to Euronet, we are able to focus more resources on establishing a full-service commercial bank with strong retail and SME presence across the country."
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