Euronet acquires CoreCard to scale modern credit tech

By Vriti Gothi

Euronet, a real-time payments and cross-border financial technology, has acquired CoreCard Corporation, a credit technology and processing platform, in a stock-for-stock merger transaction valued at approximately $248 million.

The strategic merger marks a significant milestone in Euronet’s ongoing transformation into a modern, platform-driven financial services provider with a strong focus on high-margin, scalable technology solutions.

This forward-looking acquisition reflects Euronet’s commitment to expanding its presence in the U.S. market and advancing its global portfolio of digital-first payment capabilities. Upon completion, the merger will integrate CoreCard’s sophisticated credit card issuing and processing platform into Euronet’s powerful REN ecosystem, positioning the combined entity as a formidable innovation partner for FinTechs, banks, and next-generation issuers worldwide.

CoreCard’s platform is renowned for its flexibility, speed of deployment, and modern architecture, key attributes in today’s fast-evolving payments landscape. Its cloud-native infrastructure supports dynamic use cases, enabling seamless integrations and rapid go-to-market timelines. CoreCard’s reputation is further underscored by marquee partnerships, including the launch of one of the most successful co-branded credit card programmes in the U.S. with Goldman Sachs, and the issuance of the Coinbase credit card through Cardless.

Through this acquisition, Euronet gains immediate access to a high-performance credit solution trusted by global FinTech leaders and technology innovators. CoreCard’s domain expertise in credit processing enhances Euronet’s service offering and strengthens its competitive positioning in a market historically dominated by legacy platforms.

The combined capabilities of Euronet and CoreCard are expected to enhance customer-centric design, improve speed-to-market, and offer a broader suite of solutions to financial institutions seeking modular, digital-first credit processing services. The transaction is anticipated to be accretive in Euronet’s first full fiscal year post-closing, reflecting the high-margin, recurring revenue profile of CoreCard’s platform.

Under the terms of the agreement, each CoreCard share will be exchanged for a fixed ratio of Euronet common stock based on the volume-weighted average price of Euronet shares before closing. The exchange ratio is subject to a collar mechanism, with full details available in the official merger documentation.

Legal and financial advisors on the transaction include Stinson LLP for Euronet, Kilpatrick Townsend & Stockton LLP for CoreCard, and Keefe, Bruyette & Woods, a Stifel Company, which provided financial advisory support to the CoreCard Board of Directors.

Michael J. Brown, Chairman and Chief Executive Officer, Euronet, said, “More than a product expansion, this acquisition will be a catalyst for long-term growth, and we expect it to be accretive in the first full year post close. By integrating CoreCard’s platform with our own Ren architecture and global distribution network, we will be positioned to become a leading modern card issuer and innovation partner for the next generation of digital finance. This acquisition is a natural extension of our strategy to invest in scalable, high-margin businesses that align with long-term market trends. We also value and respect the work of CoreCard’s employees, who we are eager to welcome to Euronet, and we look forward to their contributions to our company in the future.”

Leland Strange, CEO, CoreCard, said, “Joining Euronet marks an exciting new chapter for CoreCard. Our team has built a modern, resilient credit card processing platform that serves some of the largest companies and financial institutions in the world. We’re excited to bring our capabilities to a global stage. We have spent a lot of time and diligence over the last year exploring the right ‘fit’ for what our team has built over many years, and we believe this is a great outcome for the team and our shareholders. We are joining with a company that has also been built on a strong foundation over many years that has kept a strong team and customer-focused culture with a focus on innovation.”