Euronet makes second investment in partnership with Marker Trax, Koin

December 11, 2023 8:05 PM
Photo: CDC Gaming Reports
  • Rege Behe, CDC Gaming Reports
December 11, 2023 8:05 PM
  • Rege Behe, CDC Gaming Reports

Marker Trax and Koin Monday announced that financial-technology and payments-provider Euronet has made a second investment in a partnership with the companies. The investment indicates a more collaborative relationship among the three companies.

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The partnership leverages Euronet’s global-payments network, which includes 1.9 billion wallet customers and connections to more than 4.2 billion personal bank accounts. Euronet also owns Ria Money Transfer, which Marker Trax and Koin regard as one of the world’s largest remittance-payments companies.

Euronet’s operations in more than 200 countries and territories are also expected to provide a footprint for Marker Trax, a cashless digital alternative to casino markers, and Koin, a gaming solution, to expand global reach and capabilities.

“Euronet was among the first major technology partners to realize the full significance of the transformative effect Marker Trax was set to have on the gaming industry,” said Marker Trax President Charlie Skinner in a statement. “They immediately saw what we had achieved and showed tremendous confidence in our future growth. They’re one of the world’s most influential and forward-thinking financial and technology companies and extending our partnership will yield significant benefits for all parties.”

According to a release, Euronet’s Ren payments platform, known for its scalability and cloud-native architecture, has facilitated Marker Trax’s expansion in North America through Euronet’s first investment. The latest investment and partnership will help further innovations and international goals for Marker Trax and Koin.

“We’re changing how people think about digital payments in the resort environment. Our partnership with Euronet indicates the progress we’ve made, but more important, of how well we’re positioned to transform the digital payments landscape,” said Koin President Gary Larkin. “Supported by Euronet’s payments expertise and strong global presence, we’re set to take a leading role in the ongoing transformation of payments within the gaming and hospitality industries.”