Centurion Bank Expands ATM Outsourcing Agreement

by CXOtoday Staff    Jul 07, 2006

Electronic payments provider, Euronet Worldwide Inc, has increased its multiyear ATM outsourcing agreement with the Centurion Bank of Punjab (CBOP), going from 164 to 408 ATMs.

Formed after the October 2005 merger of Centurion Bank and Bank of Punjab, CBOP has 408 ATMs. Euronet had operated Centurion Bank’s 164 ATMs prior to the merger and has now got the remaining 244 from CBOP.

“By outsourcing our ATM network services to Euronet, we are able to focus more resources on establishing a full-service commercial bank with strong retail & SME presence across the country,” commented Anil Jaggia, COO, Centurion Bank of Punjab.

“This is yet another example of our customers’ confidence in our proven outsourcing solutions, which has enabled CBOP to further expand its partnership with Euronet,” said Daniel R. Henry, Euronet Worldwide President & COO.

The remaining 244 ATMs will be taken over by Euronet India to provide the entire gamut of day-to-day ATM outsourcing services from its Mumbai operations center. CBOP is also connected to Cashnet, the largest shared ATM network with more than 5,600 ATMs in the country, which is operated by Euronet.

Euronet India also provides value added network services like mobile phone recharge through ATM, SMS and the Internet channels to the bank.