Euronet Signs Exclusive Multi-Country Electronic Top-Up Agreement with Media Markt, Europe’s Largest Retailer for Consumer Electronics
LEAWOOD, KANSAS and MUNICH, GERMANY — July 3, 2007:
Euronet Worldwide’s (NASDAQ: EEFT) subsidiary, Transact, a leading independent electronic payments and prepaid mobile airtime processor in Germany, today announced an exclusive multi-country electronic top-up agreement with Media Markt, Europe’s largest retailer of consumer electronics. Media Markt is owned by Media-Saturn-Holding GmbH, a subsidiary of METRO AG, the leading German retail company.
Under the agreement, Transact is the exclusive electronic top-up (e-top-up) provider for prepaid mobile airtime and other predetermined prepaid products at 462 Media Markt superstores located in 14 countries across Europe. These superstores are located in Germany, Austria, Netherlands, Belgium, France, Greece, Spain, Portugal, Hungary, Poland, Switzerland, Sweden, Russia and Turkey. Prior to signing the exclusive multi-country e-top-up agreement with Transact, Media Markt primarily offered scratch card distribution for prepaid products at its stores. This is the first time Media Markt is offering electronic prepaid top-up solutions across its entire retail store base.
Transact expects to start the roll out process in September 2007 beginning with Media Markt superstores in Germany, Austria, Sweden and Netherlands. Media Markt will offer Transact’s e-top-up services via electronic cash registers. Transact anticipates the roll out process to be completed by mid-2008 to all Media Markt stores.
“Our multi-country prepaid agreement with Media Markt further strengthens our position as the largest provider of top-up services for prepaid mobile airtime in the world. Our existing geographic operations in key European countries and expertise in prepaid technology allow us to successfully deliver our profitable e-top-up services for the first time at Media Markt stores across multiple European markets. Our best-in-class e-top-up solution guarantees rapid implementation enabling Media Markt to offer prepaid products at their stores within a short period of time.”
– Michael J. Brown,
chairman and chief executive officer, Euronet Worldwide Inc.
About Media Markt
Media Markt is a German chain of stores selling consumer electronics with numerous branches throughout Europe. It is Europe’s largest retailer of consumer electronics. Media Markt was founded by entrepreneurs Leopold Stiefel, Walter Gunz, Erich Kellerhals, and Helga Kellerhals. The first store opened on 29 November 1979 in Munich. The Media Markt brand is a synonym for a comprehensive assortment in the fields of telecommunications, computers, photographic equipment, hi-fi systems and electrical appliances. Today, it is owned by Media-Saturn-Holding GmbH, which also owns the rival Saturn chain of electronics and media stores. Media-Saturn-Holding GmbH in turn is owned by the German retail company METRO AG.
About Euronet Worldwide
Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers outsourcing and consulting services, integrated EFT software, network gateways, electronic prepaid top-up services to financial institutions, mobile operators and retailers, as well as electronic consumer money transfer and bill payment services. Euronet operates and services the largest pan-European group of ATMs and operates the largest Indian shared ATM network.
Euronet is also one of the largest providers of prepaid processing, or top-up services, for prepaid mobile airtime. Additionally, with the completion of the acquisition of Ria Envia Inc. in April 2007, Euronet has established itself as the third-largest global money transfer company. The Company has processing centers located in the U.S., Europe and Asia, and processes electronic top-up transactions at more than 356,000 point-of-sale terminals across more than 186,000 retailers in Europe, Asia Pacific, Africa and the U.S. With corporate headquarters in Leawood, Kansas, USA, and 26 worldwide offices, Euronet serves clients in approximately 100 countries. Visit the Company’s web site at www.euronetworldwide.com.
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