Euronet Announces Acquisition of Infinitium, a Leading Digital Payments Company in Southeast Asia
2024年2月13日 - 11:00PM
Euronet (NASDAQ: EEFT), a leading global financial technology
solutions and payments provider, today announced the acquisition of
Infinitium Holdings Pte. Ltd (Infinitium), a digital payments
company and provider of risk management and payments authentication
services based in Singapore. Infinitium’s products will be
integrated with Euronet’s Ren payments platform to provide
additional protection against consumer fraud and merchant
chargebacks in online transactions.
Infinitium is a leader in providing risk
management and payment authentication services such as 3D Secure
(3DS), which helps address fraud in eCommerce or “card not present”
(CNP) transactions. This authentication step adds an extra level of
security, reducing the risk of unauthorized transactions and
enhancing overall online payment security. The company also offers
next-generation, omnichannel payment gateway services for merchants
and acquirers, enabling them to operate their services efficiently
across diverse channels. Its customers include large banks and
merchants in Singapore, Malaysia, Indonesia, Hong Kong, Brunei,
Cambodia, the Philippines and India.
Regulators in the European Union, India,
Singapore and other countries have made 3DS mandatory to provide
additional protection against consumer fraud and merchant
chargebacks. Regions such as the United States and Latin America
have not yet mandated 3DS, but the need to reduce CNP fraud is
expected to grow as the global e-commerce market reaches an
expected US$8.1T by 20261. In 2020, the value of global e-commerce
losses to online payment fraud was $17.5B, which surged to an
estimated $48B in 20232. The 3DS market is estimated to be US$1.2B
and is forecasted to reach US$2.8B by 2030 – a compounded
annualized growth of 13.3%3.
“Every stakeholder in the payments ecosystem has
a strong incentive to adopt 3DS soon,” said Kevin J. Caponecchi,
Euronet Executive VP and CEO, epay, Software and EFT Asia Pacific
Division. “With this acquisition, we have enhanced our Ren payments
platform with industry-leading technology that provides modern,
multi-channel transaction authentication across issuing and
acquiring domains. With Infinitium’s next-generation payment
gateway, we have added significantly more addressable market
opportunity with this valuable enhancement to the Ren
platform.”
“Infinitium has developed industry-leading fraud
detection solutions for risk-based authentication of CNP
transactions by leveraging modern technologies,” said Himanshu
Pujara, Senior Vice President and MD Asia Pacific and Ren Payments.
“These solutions address CNP fraud while ensuring high success
rates for merchants and issuers. Leading issuers in Southeast Asia
use the Infinitium solution. This represents an opportunity for us
to provide integrated payment offerings of Ren to these customers
and other prospects in Asia and globally.”
Infinitium possesses a highly diversified
workforce of approximately 200 software developers and architects,
plus a seasoned senior management team that will remain with
Euronet following the successful completion of the acquisition.
“The Infinitium team is happy to find a new home
in Euronet,” said Ho Ching Wee, Founder and CEO of Infinitium.
“This arrangement will yield numerous synergies leveraging our
joint technologies for our customers, enabling us to provide
enhanced capabilities. We aim to maximize our potential over the
next few years by delivering stronger and superior offerings to our
customers worldwide.”
About Infinitium
Infinitium is a regional payments solution
provider specializing in a multitude of end-to-end solutions in
electronic payments and authentication services for Internet and
mobile applications. Starting as a private limited company in Kuala
Lumpur, Malaysia, Infinitium has grown into a market leader,
providing a constantly evolving suite of solutions focused on
authentication and digital payments for various sectors. Over the
years, the company has expanded in Asia with businesses in
Singapore, Malaysia, Indonesia, India, Cambodia, Hong Kong, Brunei
and the Philippines. Learn more at www.infinitium.com
About the Ren Payments
Platform
Ren is a modern payments platform specializing
in processing mission-critical transactions and fostering
innovative experiences across core switching, acquiring, issuing
and payment hubs. Ren's robust architecture consistently delivers
unparalleled performance, even in the most demanding high-traffic
environments.
The platform's microservices-based architecture
showcases its adaptability in the ever-evolving payments landscape.
Ren provides ample deployment options, whether integrating with
prominent cloud environments such as AWS, Microsoft Azure, or
Google Cloud or connecting with Euronet's global data
centers via open APIs. Moreover, Ren's ability to integrate
seamlessly with legacy systems means businesses can elevate their
payment operations without extreme system overhauls. Learn more at
www.renpayments.com.
About Euronet
Starting in Central Europe in 1994 and growing
to a global real-time digital and cash payments network with
millions of touchpoints today, Euronet now moves money in all the
ways consumers and businesses depend upon. This includes money
transfers, credit/debit processing, ATMs, point-of-sale services,
branded payments, currency exchange and more. With products and
services in more than 200 countries and territories provided
through its own brand and branded business segments, Euronet and
its financial technologies and networks make participation in the
global economy easier, faster and more secure for everyone.
A leading global financial technology solutions
and payments provider, Euronet has developed an
extensive global payment network that includes 52,652
installed ATMs, approximately 656,000 EFT POS terminals and a
growing portfolio of outsourced debit and credit card services
which are under management in 66 countries; card software
solutions; a prepaid processing network of approximately 821,000
POS terminals at approximately 352,000 retailer locations in 62
countries; and a global money transfer network of approximately
580,000 locations serving 198 countries and territories. Euronet
serves clients from its corporate headquarters in Leawood,
Kansas, USA, and 67 worldwide offices. For more information, please
visit the company's website
at www.euronetworldwide.com.
- Statista -
https://www.statista.com/statistics/379046/worldwide-retail-e-commerce-sales/
- Statista-
https://www.statista.com/statistics/1273177/ecommerce-payment-fraud-losses-globally/
- Fortune Business Insights Report Press Release-
https://www.globenewswire.com/en/news-release/2023/05/16/2669723/0/en/3D-Secure-Pay-Authentication-Market-Size-to-Surpass-USD-2-81-Billion-by-2030-exhibiting-a-CAGR-of-13-3.html
Euronet Contact
Stephanie Taylor
Director of Financial Planning and Investor Relations
+1-913-327-4200
Euronet Worldwide (NASDAQ:EEFT)
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