Euronet’s REN payment platform (EEFT) to help Marker Trax – September 29, 2021
Euronet worldwide, Inc. (EEFT – Free Report) will license its REN payment platform to the Las-Vegas-based company Marker Trax, LLC for use in the first cloud, where it will offer transaction processing and many other features for a system. of digital casino marker management.
Initial versions of the REN-powered Marker Trax solution are expected to be ready by the end of this year. This move obviously improves REN’s exposure to the gaming space where casino visitors are expected to spend $ 516 billion worldwide and around $ 150 billion in the North American market this year. REN will provide various key functionalities, such as underwriting, customer identity verifications, settlement, reporting and many more.
Marker Trax is a regulatory compliant, cashless option for the traditional casino market that should be convenient for players. It comes with tools to manage marker subscription and refunds, making sure funds stay with the casino by following the marker.
Marker Trax consists of a mobile application and a website that can be used by casino customers to request a marker and obtain a credit decision. Casino customers will be able to save time and effort by taking advantage of this new solution. People can actually use it on virtual casinos and help sports betting operators in addition to supporting physical hubs.
Marker Trax has also obtained approval from the Nevada Gaming Control Board. REN will offer scalability for an expanding user base and fast speed so that users can enjoy enriched experiences.
The gaming industry is the ideal market to adopt REN as it offers many growth prospects.
In June, Euronet announced that its REN Connect software will enable the Bank of Philippine Islands (BPI) to participate in the region’s real-time payment network called Instapay.
Last December, the company’s branch, Euronet India Services Pvt. Ltd migrated from Cosmos Bank in India to modern processing technologies in the REN ecosystem of Euronet. The company even launched a âpay as you growâ on-demand service model to strengthen the bank’s real-time card and account payment methods.
Using the next-generation REN ecosystem, the company is able to replace the bank’s on-premises switching system with cloud-based solutions, such as a core processing platform. This helps provide customers with ATM, device driving and card management services.
Zacks Ranking and Peer Award Performance
Shares of this currently ranked 5th Zacks (strong sell) company have gained 41.3% in the past year, outperforming industry growth of 13.3%. The stock should continue its rally thanks to its strong EFT, epay and Money Transfer segments as well as the increase in digital transactions.
Image source: Zacks Investment Research
Actions to consider
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