May 21, 2014
On May 20th 2014, Leading global electronic payments provider and distributor, Euronet Worldwide, announced that it had completed the acquisition of HiFX, based in UK. This acquisition complements Ria, Euronet’s existing money transfer business, says the company.
'We are excited to welcome HiFX into the Euronet group of companies. Their online presence, affordable rates and deep knowledge of foreign exchange markets, combined with our strong bank relationships, global market entry expertise and solid balance sheet will allow us to expand and improve both Ria's and HiFX's product offerings and increase our market share in a fast-growing sector that produces 9.9 Bn payment transactions per year,' stated Euronet's Chairman and CEO, Michael J. Brown.
Recently, Walmart Inc stated that it would announce a new service with Euronet Worldwide Inc. WalMart announced that the new service would cut transaction fees for its low income customers by nearly 50% in comparison to other offerings. The service was made available beginning April 24th.
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.