Euronet’s RIA Announces Signing Seven-Year
Agreement with Cash Store Financial
July 29, 2010 06:41 PM Eastern Daylight Time
CERRITOS, Calif.--(EON: Enhanced Online News)--RIA Financial Services, Cerritos, California, a wholly owned
subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT), today announced the signing of a seven-year agreement
with Cash Store Financial Services Inc. ("Cash Store Financial") (TSX: CSF) (NYSE: CSFS) to supply money
transfer services across Cash Store Financial’s Canadian network of 523 Cash Store and Instaloans branches. The
agreement takes effect September 1, 2010.
“Cash Store Financial’s partnership with RIA and Euronet will enable us to accelerate expansion of our money
transfer customer base and to grow related revenues by providing access to Canadian markets that are restricted
under our current money transfer services agreement,” said Mr. Reykdal, Chairman and Chief Executive Officer of
Cash Store Financial. “Our agreement with RIA provides access to a further 90 branches with high levels of
remittance traffic and ensures that all future branches will be able to offer money transfer services to our customers.
The up-side potential for revenue growth above current volumes is significant.”
“Canada is already RIA’s fourth largest market. Cash Store Financial’s network of 523 branches offers exceptional
reach within the Canadian marketplace, enabling us to further solidify our North American footprint,” said Michael
Brown, Chairman and Chief Executive Officer of Euronet Worldwide, Inc. “Cash Store Financial already does a
substantial number of transfers a month. By adding 90 previously restricted outlets to their money transfer offering,
we believe that the upside potential for customer and revenue growth is high for both parties to this agreement.”
About Cash Store Financial
Cash Store Financial is the only broker of short-term advances and provider of other financial services in Canada
publicly traded on the Toronto Stock Exchange (TSX: CSF). The Com