A comprehensive offering will be available to the companies' combined customer base of more than 285,000 merchants as well as the broader Greek market
LEAWOOD, Kan., April 22, 2024 (GLOBE NEWSWIRE) -- Euronet (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, and SOFTONE Group, one of the largest cloud-based business software providers in Greece and Southeast Europe, announced today that they are partnering to deliver integrated merchant acquiring solutions in Greece.
The partnership involves SOFTONE integrating its leading brands and products (ERP solutions, enterprise mobility applications and retail and restaurant management solutions) with Euronet's merchant acquiring platform. This integration will offer a wide range of cost-effective solutions for online and brick-and-mortar merchants, covering Euronet's 210,000 merchants and SOFTONE's 75,000 enterprises. The partnership aims to expand and deepen relationships with businesses of all sizes, strengthening both companies' market presence and footprints.
The announcement follows a series of recent Euronet Merchant Services partnerships and product development initiatives aiming to innovate and enable 360-degree business solutions in the evolving Greek payments landscape. The government-backed Electronic Cash Register (ECR) payment device integration initiative is an opportunity to enhance the overall consumer experience at the point of sale and streamline retailers' business operations. SOFTONE's state-of-the-art, cloud-based business software solutions, combined with Euronet's Ren payments technology platform, offer an end-to-end solution to merchants with diverse business profiles and sizes.
This partnership agreement directly aligns with Euronet's global expansion strategy, which includes strengthening its presence in existing markets and expanding to territories outside of Europe with a diversified go-to-market strategy that includes strategic agreements with leaders in specific industry segments.
"We are excited with the agreement with SOFTONE, the leading ERP/CRM solutions provider in Greece," said Nikos Fountas, Executive Vice President, and Chief Executive Officer, Euronet Americas and EMEA EFT Division. "This partnership will enhance our merchant relationships by offering our business customers a frictionless integration experience. With SOFTONE, we further strengthen our presence in Greece, reaching more customers and offering complementary payment solutions to drive their growth. The agreement proves that our Euronet Merchant Services strategy in Greece, which started with the acquisition of the Piraeus Bank merchant acquiring business unit in March 2022 and progressed with significant organic growth and strategic agreements, is spot on. We look forward to expanding the collaboration beyond Greece to the international markets where both companies operate."
SOFTONE Group CEO Panos Martinis stated, "At SOFTONE, we constantly seek innovative ways to provide our customers with interconnected platforms that drive their sustainable growth. Our partnership with Euronet marks yet another milestone in our journey to lead the integration of cutting-edge cloud-based software with payment solutions in Greece and Southeast Europe. Partnering with a global leader in fintech solutions and payments unlocks new possibilities for our mutual customers, enabling them to streamline their payment processes and offering them new value, maximizing services over one platform that manages operations and payments. We are excited to embark on this journey with Euronet and look forward to continuously expanding the partnership."