Founded in Little Rock in 1975, Arkansas Systems Inc. grew to serve more than 100 retail banking clients by offering electronic funds transfer (EFT) software for ATM management, debit and credit cards. Though operating very much under the Arkansas radar, it was a groundbreaking financial-services company.
Eventually, the company began providing key upstream software to Euronet’s ATM transaction-processing center in central Europe and in 1998, Euronet acquired it. Three years later, Euronet announced that it was relocating its software division and U.S. processing center to Little Rock, which became home to Euronet USA, led by Tony Warren, president and managing director of payments software. Today, Euronet Worldwide operates 60 offices in 160 countries and reported revenue of $2.4 billion in 2018.
The corporation is a global industry leader in processor software solutions, card-management software solutions, digital-banking software solutions and currency-conversion solutions. It’s credited as an early player helping facilitate the switch to digital payments as well as its role in identifying the increasing popularity of bar-code payments, real-time vouchers, QR codes, advances in technology coding and changes in hardware and cloud-based infrastructure.
Euronet developed the REN innovation platform to process and move any type of data to and from disparate applications and systems. In 2018, Euronet processed more than 280 million transactions in 26 countries, in all global currencies and for 58 different payment types.
Euronet’s physical money-transferring network is believed to be the second-largest in the world, reaching 369,000 locations in 150 countries.