Euronet’s buy consists of round 205,000 POS terminals at over 170,000 retailers throughout Greece, in addition to the financial institution’s on-line service provider buying enterprise. The in-store buying enterprise is about 20% of Greece’s market, with PBMA’s on-line service provider buying representing roughly 40% of the full on-line and digital transactions performed within the nation.
A part of the deal additionally stipulates a negotiated settlement for a long-term strategic partnership with Piraeus Financial institution for collaborative product distribution. The financial institution and its over 400 branches all through Greece will assist Euronet with operational and business providers, whereas receiving commissions for service provider buying referrals.
The completion of the acquisition follows a protracted collection of partnership agreements relationship again to the start of the 2000s, with the brand new settlement being renewed for an additional 20 years.
Euronet pledges to supply a collection of digital fee options to Greek retailers, except for the popular cash-based operations, together with QR codes and tokenised fee strategies by way of digital wallets.