LEAWOOD, Kan., July 13, 2017 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. ("Euronet" or the "Company") (NASDAQ:EEFT), a leading electronics payments provider, today issued the following statement regarding MoneyGram International, Inc. ("MoneyGram") and the review of its agreement to merge with Ant Financial Services Group.
In light of recent reports and subsequent investor inquiries, we determined it was important to clarify our stance on the recent developments regarding the proposed Ant Financial and MoneyGram merger. As an industry participant we feel strongly that the critical role of the money transfer business as it relates to national security must be understood. We are not surprised by news reports indicating Ant Financial and MoneyGram have been forced to withdraw and refile their transaction for review by the Committee on Foreign Investments in the United States (CFIUS).
We will continue to advocate that, in view of its ownership and its practices, Ant Financial does not meet the standards to assume the responsibilities of a U.S. money transmitter. This includes demonstrating an ability to protect sensitive personal information on U.S. citizens and military personnel as well as the need to uphold and participate in U.S. Federal and State efforts related to regulating anti-terrorism financing and money laundering.
The report of the refiling with CFIUS is consistent with our long-held belief that the acquisition of MoneyGram by a Chinese company with Chinese government ownership is a matter of serious national security concern. Ant Financial and MoneyGram have told shareholders since January that the CFIUS process was proceeding normally, yet more than 150 days later the companies have provided no substantive update on the process.
MoneyGram holds sensitive personal financial information of tens of millions of U.S. citizens and the location of MoneyGram’s money transfer agents are uniquely clustered around U.S. military installations making our soldiers and sailors especially vulnerable. We do not see any way the risks involved in the transaction could be mitigated, particularly in light of Ant Financial’s stated business rationale for the transaction which is to globally integrate its payment network. We remain confident that CFIUS will ultimately reach a conclusion that the acquisition of MoneyGram, a company that also plays a key role in anti-money laundering and anti-terrorism financing programs, will significantly jeopardize the national security of the United States and its citizens.
Prior statements from Euronet on Ant Financial’s merger with MoneyGram can be found at Euronet’s Investor Relations page at www.euronetworldwide.com.
About Euronet Worldwide, Inc.
Euronet Worldwide is an industry leader in processing secure electronic financial transactions. The Company offers payment and transaction processing solutions to financial institutions, retailers, service providers and individual consumers. These services include comprehensive ATM, POS and card outsourcing services, card issuing and merchant acquiring services, software solutions, cash-based and online-initiated consumer-to-consumer and business-to-business money transfer services, and electronic distribution of prepaid mobile phone time and other prepaid products.
Euronet's global payment network is extensive - including 35,145 ATMs, approximately 176,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 53 countries; card software solutions; a prepaid processing network of approximately 666,000 POS terminals at approximately 308,000 retailer locations in 35 countries; and a global money transfer network of approximately 321,000 locations serving 146 countries. With corporate headquarters in Leawood, Kansas, USA, and 61 worldwide offices, Euronet serves clients in approximately 160 countries. For more information, please visit the Company's website at www.euronetworldwide.com.
Media Contacts Abernathy MacGregor Tom Johnson, Patrick Tucker or Emily Ward (212) 371-5999 firstname.lastname@example.org email@example.com firstname.lastname@example.org Investor Contacts Euronet Worldwide Stephanie Taylor Director of Financial Planning & IR (913) 327-4221 email@example.com
Source:Euronet Worldwide, Inc.