Euronet in reverse in Australia
The ePay business of US payments processor Euronet Worldwide continues to wilt, with revenue down 13 per cent over one year and 26 per cent over two years, to US$78 million. Tough trading in the years up to 2013 forced an impairment of goodwill of US$12 million on Euronet's Australian arm, which derives most of its revenue from mobile phone recharge.The 2015 annual report for Euronet, released this week, also shows the firm has not had to make any contingent payment to the vendors of Pure Commerce, a business bought in early 2013 for around US$31 million. The contingent payment had a notional value of US$30 million.