- Euronet Worldwide has confirmed that it will offer a business-to-business payments platform called Dandelion – which it described as an all-new international money transfer service designed to modernise payments for various institutions.
- The new service will facilitate cash delivery to over half a million locations and tap into payments rails in more than 160 nations around the world.
- “Dandelion is the platform that financial players have needed to enable rapid global expansion and efficiently process cross-border transactions,” said a senior figure at Euronet.
Euronet Worldwide, which is a provider of cross-border payments services and financial technology solutions, has announced that it will launch a new service for business-to-business (B2B) payments.
The aim of the service, which is called Dandelion, is to help businesses and other organisations modernise their cross-border payments processes so that they are able to enjoy speedier and more transparent payments.
The firm said that Dandelion customers will see increased international reach to payment rails in more than 160 nations around the world.
It is believed that cash delivery will be possible to over half a million locations – and that around four billion bank and mobile wallet accounts will also be included.
The Dandelion service will also include real-time payments and a single technological integration point.
On the transparency front, meanwhile, Dandelion will track payments as they go and allow customers to follow the payment’s progress.
In a statement, a senior figure at Euronet said that there had hitherto been little progress across the sector in bringing together the various different “sides” of an international money transfer transaction.
Michael J. Brown, who is the firm’s chief executive officer and chairman, said that this had caused a market “gap”.
“No one has really focused on effectively connecting all sides of the transaction – the entire end-to-end experience – with a real-time solution. That leaves a huge gap in the payments space,” he explained.
He went on to add that various new organisations that had gone into the market had placed a lot of emphasis on the earlier stages of the process.
“Most of the new entrants in the payments market focus on the interface and onboarding of end users. And they do a good job of it.
“But we set out to reimagine cross-border payments from end-to-end. That is where Dandelion fills the void in the cross-border payments world.”
He also said that Dandelion would be able to address the “rapid global expansion” needs of its business customers.
“Dandelion is the platform that financial players have needed to enable rapid global expansion and efficiently process cross-border transactions,” he said.
Dandelion already has a wide range of customers, including some big names – Remitly, Sage and Microsoft Dynamics are all represented on the list.
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