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NEW YORK - Citi and Dandelion, a Euronet Worldwide, Inc. (NASDAQ:EEFT) company, announced today a collaboration to enable near-instant cross-border payments directly into digital wallets globally. Euronet, with a market capitalization of $3.49 billion and revenue growth of 8.71% in the last twelve months, has maintained strong financial performance according to InvestingPro data.
The partnership integrates Citi’s WorldLink Payment Services with Dandelion’s digital wallet network, initially launching in the Philippines, Indonesia, Bangladesh and Colombia, with plans for further expansion.
The service allows Citi’s institutional clients to make full-value payments to digital wallets with near 24/7 availability. This capability aims to enhance offerings to financial institutions in the remittances space while enabling corporate clients to make faster business-to-consumer payments for purposes including payroll, expense reimbursements, social benefits, and payments to gig economy workers.
"By integrating Dandelion’s robust digital wallet network with Citi’s global payment infrastructure, we are enabling our clients to reach into markets with new payment methods," said Emanuela Saccarola, Head of Cross Border Payments, Services at Citi.
The collaboration expands Citi’s WorldLink capabilities, which already allows clients to make cross-border payments in over 135 currencies through various methods. With this addition, Citi’s solution now enables payments to over 150 digital destinations including bank accounts, mobile wallets and debit cards.
Dandelion’s network reaches over 63 countries via digital wallets, helping extend Citi’s global reach to beneficiaries who primarily rely on digital wallets for financial transactions.
"Together, we’re raising the standard for cross-border payment speed, reliability and global reach," said Juan Bianchi, Euronet’s EVP & CEO Money Transfer segment.
According to information provided in the press release, Citi processed over 11 million instant payments daily and drove close to $380 billion in cross-border transaction volumes in 2024. Analysis from InvestingPro indicates that Euronet is currently trading below its Fair Value, with a strong financial health score and robust operational metrics. The company’s stock is trading near its 52-week low, potentially presenting an opportunity for investors interested in the growing digital payments sector.
In other recent news, Euronet Worldwide reported its Q2 2025 earnings, which fell short of analyst expectations. The company posted an earnings per share (EPS) of $2.56, missing the forecasted $2.66, while revenue was $1.07 billion, slightly below the expected $1.08 billion. Additionally, Euronet has priced $850 million in 0.625% Convertible Senior Notes due 2030, with an option for initial purchasers to acquire an additional $150 million in notes. This offering is part of a private placement to qualified institutional buyers. Euronet also announced a definitive agreement to acquire CoreCard Corporation in a stock transaction. DA Davidson has reiterated its Buy rating on Euronet Worldwide, maintaining a price target of $130. Meanwhile, Paysign has named Dan Henry as its new Chairman of the Board, succeeding Mark Newcomer, who remains President and CEO. Henry, a veteran in fintech, has held leadership roles at Euronet Worldwide and NetSpend Corporation.
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