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LAS VEGAS (Dec. 11,2023) – Cashless payments innovators Marker Trax and Koin today announced a significant new phase in their partnership with Euronet (NASDAQ: EEFT), a leading global financial technology solutions and payments provider. This development is marked by Euronet’s recent second investment in the partnership in the past two years, highlighting the company's confidence and commitment to these innovative firms.
Euronet’s increased investment in Marker Trax and Koin signals its belief in their potential to transform the global gaming and hospitality markets and is accompanied by a deepened collaborative relationship between the companies. Kevin J. Caponecchi, Euronet EVP and CEO, epay, software and EFT Asia Pacific Division, emphasized the high confidence Euronet has in both companies’ leadership and innovative capabilities.
The partnership will leverage Euronet’s extensive global payments network, which includes 1.9 billion wallet customers and connections to more than 4.2 billion personal bank accounts. Additionally, Euronet owns one of the world’s largest remittance payments companies in Ria Money Transfer. Finally, Euronet operates in more than 200 countries and territories, providing a valuable footprint for Koin and Marker Trax to expand their global reach and capabilities.
“Euronet was among the first major technology partners to realize the full significance of the transformative effect Marker Trax was set to have on the gaming industry,”said Marker Trax President Charlie Skinner. “They immediately saw what we had achieved and showed tremendous confidence in our future growth. They’re one of the world’s most influential and forward-thinking financial and technology companies and extending our partnership will yield significant benefits for all parties.”
“We’re changing how people think about digital payments in the resort environment. Our partnership with Euronet indicates the progress we’ve made, but more importantly, of how well we’re positioned to transform the digital payments landscape,” Koin President Gary Larkin added. “Supported by Euronet’s payments expertise and strong global presence, we’re set to take a leading role in the ongoing transformation of payments within the gaming and hospitality industries.”
With this significant investment and strategic alliance, Koin and Marker Trax are poised for accelerated growth and innovation. Koin, a global leader in cashless solutions for gaming and
hospitality, and Marker Trax, a U.S.-based pioneer in credit assessment and digital marker issuance, will leverage Euronet’s payments network and technologies to optimize transaction speed and enhance user experiences.
Euronet's Ren payments platform, known for its scalability and cloud-native architecture, has already facilitated Marker Trax’s expansion in North America through Euronet’s initial investment. The latest investment and partnership promise to drive further innovations and international aspirations for Marker Trax and Koin. This collaboration represents a major milestone for the companies and a significant step in transforming the digital payments landscape.
AboutMarker Trax, LLC
Marker Trax is a cashless, digital alternative to a casino marker. The product is the first of its kind to offer regulatory-compliant casino marker technology that takes inefficiency out of issuing advances and provides casinos with the tools to manage their casino credit underwriting and repayments.Developed and patented by the company’s founder, Gary Ellis, in 2018, Marker Trax makes for a more efficient gaming experience for players. TheMarker Trax system allows players to be scored and given access to their markers in minutes. Marker Trax integrates into casino operating systems, allowing for easy start-up and player tracking. More information about MarkerTrax can be found on the company’s website at www.markertrax.com.
About Koin Payments
Koin is a gaming resort solution that utilizes dynamic, fully integrated financial wallet features to offer customers access to their funds anywhere, anytime. Developed by company co-founders Gary Ellis and Gary Larkin in 2021, Koin provides a complete digital payments ecosystem including all traditional mobile wallet funding options, such as bank ACH transfer, debit cards, real-time payments, international transfers and Marker Trax digital credit. It offers resort operators a fully integrated cage, table games and retail management system, with casino and resort payment systems substantially reducing merchant processing charges for all casino and resort retail payments and cash-out activities. With these significant cost-saving functionalities that also combine to make it easier for customers to access and utilize their funds, Koin is reimagining the gaming resort experience for the digital age. For more information, visit koinpayments.com.
About Euronet
Starting in Central Europe in 1994 and growing to a global real-time digital and cash payments network with millions of touch points today, Euronet now moves money in all the ways consumers and businesses depend on. 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 53,272 installed ATMs, approximately 637,000 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 810,000 POS terminals at approximately348,000 retailer locations in 61 countries; and a global money transfer network of approximately 540,000 locations serving 194 countries and territories. Euronet serves clients from its corporate head quarters in Leawood, Kansas, USA, and 67 worldwide offices. For more information, please visit the Company's website at www.euronetworldwide.com.
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