Euronet 360 Finance, a subsidiary of Euronet Worldwide, has launched end-to-end prepaid card issuing, processing and BIN sponsorship solutions in Europe.
Under the supervision of the UK’s Financial Conduct Authority (FCA), the firm is now providing electronic money and payment services throughout the European Economic Area (EEA).
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By passporting the e-money license, the company can issue cards and process transactions across the Single Euro Payments Area (SEPA) territory, excluding Monaco. Being a member of MasterCard Europe, the company is also able to issue open loop products throughout the SEPA region containing MasterCard, Maestro and Cirrus brands.
Euronet’s prepaid card solution provides non-FCA licensed organisations with the ability to offer prepaid products that can be used across the vast POS, ATM and partner bank network of Euronet Worldwide.
The card solution features support of physical and virtual cards, for one-time, gift card or reloadable use, while also allowing for contactless payments to be conducted through MasterCard’s mobile wallet, Paypass.
Nikos Fountas, executive VP of Euronet Europe EFT Division, said that with this latest move, the company now offers "solutions to their clients without any material up-front expenditures, ensuring their ability to protect, grow and evolve their business and market share with speed and security".
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