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Euronet Worldwide Inc. (“Euronet” or the “Company”) (NASDAQ: EEFT), a leading electronic payments provider, today announced it has expanded its ATM outsourcing agreement with China Postal Savings Bank (“China Postal Bank” or the “Bank”),[link widoczny dla zalogowanych], the fifth largest financial institution in China, for 721 new ATMs.
Under the expanded agreement, Euronet will deploy an additional 721 ATMs for China Postal Bank in Beijing, Shanghai and the Guangdong province. The Company will provide the full range of day-to-day ATM outsourcing services from its operations center in Beijing, which is already managing 90 ATMs for the Bank. Euronet China expects to complete the deployment of the new ATMs for China Postal within the next 12 to 18 months.
“We are very pleased to expand our agreement with China Postal Bank following the success of our initial pilot ATM project. Our proven outsourcing services enable China Postal Bank to manage and expand their ATM network with the help of a single established service provider resulting in an efficient deployment and servicing model for the Bank," said Michael J. Brown,[link widoczny dla zalogowanych], Euronet Worldwide chairman,[link widoczny dla zalogowanych], chief executive officer and president. "The recent positive developments within the Chinese banking sector are creating significant opportunities for reliable and cost-effective ATM outsourcing service partners such as Euronet to assist banks in China develop their retail banking networks.”