Euronet, a leading global financial technology solutions and payments provider, today announced an agreement with LATAM digital wallet provider Paga Aqui Servicios SOLFIN (SOLFIN) where Euronet’s Ren Payments Platform (Ren) will provide complete issuing services for a minimum of 250,000 prepaid cards and up to 10 million cards over the next 10 years.

“Euronet Worldwide, which offers technology and payment solutions worldwide, is offering banks a new cross-border payment platform that will rival Swift. The company is positioning the new service, Dandelion, as a more efficient and cheaper mode of payment that will transfer directly to the recipient’s account through integration with local real-time payment networks. Swift — the Society for Worldwide Interbank Financial Telecommunication — provides the trusted messaging platform that enables banks to send their counterpart instructions on fund transfers very fast. Speaking to TOI, Himanshu Pujara, MD (Asia-Pacific), Euronet Worldwide, said, “What we have done with Dandelion is that we have connected to local real-time payment infrastructures, whether it is India, whether it is PIX in Brazil or Sepa in Europe… we have connected to all of them and created a single application programme interface, which we offer banks”. Besides offering the payouts directly into bank accounts, Dandelion provides wallet payments and has already integrated with the top 30 wallets globally. It also allows the banks to offer a service where the remitter can send money to a transfer agent enabling the recipient to collect cash. Euronet can offer this as it has existing verticals, including Ria, which enable cash payouts and another vertical that has helped it to integrate with local payment networks.”