Euronet Becomes Largest Non-Bank ATM Operator in Malaysia with MEPS ATM Acquisition

Euronet Becomes Largest Non-Bank ATM Operator in Malaysia with MEPS ATM Acquisition

by May 31, 2024

Euronet, a global financial technology solutions and payments provider, announced today the completion of the acquisition of the Malaysian Electronic Payment System (MEPS) ATM terminals of Payments Network Malaysia Sdn Bhd (PayNet), the national payments network and central financial infrastructure for Malaysia.

This acquisition enhances Euronet’s role as the largest non-bank operator of ATM terminals in Malaysia.

The integration of this nationwide network of about 800 ATM terminals into Euronet’s existing independent ATM deployer (IAD) network will benefit from Euronet’s Ren payments platform.

Since its inception in 2012, the MEPS ATM network has provided millions of Malaysians in local communities and small businesses with convenient access to cash. Euronet will maintain and expand the IAD network across Malaysia, promoting financial inclusion.

Effective April 1, 2024, the MEPS ATMs have been fully transferred to Euronet. A rebranding exercise to Euronet’s brand will be completed in the next year, during which time the MEPS brand may still be visible at some ATMs.

Featured image credit: edited from freepik