Importantly, we continued to make meaningful progress on our growth initiatives that we believe will position Euronet as a long-term winner in the payments and cross-border space. We are pleased by the broad-based strength across our business, which drove 19% growth in adjusted EPS alongside accelerating momentum in several of our key digital efforts. We remain confident with our full-year outlook, supported by our strong balance sheet and our historically disciplined, balanced approach to capital allocation. We believe that we are well-positioned to execute against our strategic priorities and deliver adjusted EPS growth in the 10%-15% range for the full-year.

As a reminder, these are key offerings within EFT that we believe will play a significant role in accelerating growth at Euronet for years to come. In Poland, we signed an agreement with UniCredit Bank to deploy cash recyclers across its branch network. For Euronet, these agreements generate long-term recurring revenue and deepen our position as a critical infrastructure provider. Second, it represents the first deployment of this product in Latin America, highlighting the cross-geography synergies resulting from our 2024 Infinitium acquisition in Malaysia.

During the quarter, we further strengthened our position in Spain through the announced acquisition of PaynoPain. Their continued focus on expanding banking and payments infrastructure continues to provide long-term recurring revenue while also providing state-of-the-art technology for banks, merchants, and fintech around the world. This expansion reflects continued demand from global partners to leverage our distribution infrastructure across global markets. Overall, Epay continued to execute on its growth strategy during the quarter with incremental expansion across geographies, partners, and product offerings.

What went well
  • Solid start to 2026: adjusted EPS of $1.58, up 40% year-over-year (or up 19% excluding a prior-year one-time $0.20 tax charge), with the 10-15% full-year adjusted EPS growth target reaffirmed.
  • EFT delivered strong constant-currency revenue growth of 19%, driven by double-digit growth in Ren and merchant acquiring, interchange-rate increases across Europe, and the full-quarter inclusion of CoreCard; segment operating income would have grown 21% absent about $5M of CoreCard purchase-price amortization.
  • Digital momentum accelerated: Ria digital transactions +35%, new digital customers +42% and digital revenue +42%; Dandelion posted its best quarter on record with real-time payments launched in nine new markets; account-deposit payouts grew 12% and now represent 44% of money-transfer transactions.
  • Signed a wave of EFT infrastructure deals (bank99 ATM-as-a-service in Austria, UniCredit cash recyclers in Poland, Banco Itau Paraguay - the first Ren banking-infrastructure deal in Latin America, and a Banco Guayaquil 3D Secure agreement in Ecuador), added about 2,300 merchants, and announced the PaynoPain acquisition in Spain.
  • epay grew constant-currency revenue 2% with operating income +13% and adjusted EBITDA +12%, and expanded digital content distribution (Revolut now in 22 countries, plus an Apple B2B deal, Roblox in Japan and new launches in India).
What went wrong
  • Money-transfer constant-currency revenue declined 4%, with operating income of $38.9M and adjusted EBITDA of $45M both down year-over-year, driven by immigration-related pressure on U.S.-Mexico transfers, a new 1% remittance excise tax on cash transactions, and reduced Middle East volumes.
  • Total money-transfer transactions fell 2% to 43.9 million as the physical retail channel remained pressured by deportations and a virtual freeze in replacement immigration.
  • Consolidated operating income of $72M was held back by roughly $5M of non-cash CoreCard purchase-price amortization and an additional $3.5M of non-cash share-based compensation; excluding those items, operating income would have grown 7%.
  • Expanded gross margins in money transfer were reinvested into digital marketing, resulting in lower segment operating profit year-over-year.

More on Euronet Worldwide, Inc.

Reported 2026-04-29 · figures from the Euronet Worldwide, Inc. Q1 2026 earnings call.

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