Euronet announced an agreement with Swedbank to acquire the bank’s ATM assets and provide ATM outsourcing services across Lithuania, Estonia, and Latvia. This strategic move includes 1,141 ATMs, encompassing both in-branch and off-branch units, which will be seamlessly migrated to Euronet’s Ren payments processing platform.
The agreement is designed to optimize and enhance Swedbank’s ATM operations, offering state-of-the-art services for its customers while reducing the bank's operational costs and capital expenditures. Euronet will maintain Swedbank’s ATM branding elements, ensuring business continuity and a familiar user experience.
This expansion strengthens Euronet’s presence in Europe and integrates the acquired network into its independent ATM network (IAD) in the Baltic countries. The deal underscores Euronet's strategy of ATM consolidation, leveraging its technology and operational model to drive efficiency and innovation in the payments landscape. The migration is scheduled to begin in the fall of 2025.
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