Euronet Buys Singapore-based Digital Payment Security Firm, Enters $1.2B Market

Posted February 15, 2024

Leawood-based fintech company Euronet Worldwide Inc. announced its acquisition of Singapore-based Infinitium Holdings Pte. Ltd, expanding its reach to many countries in Southeast Asia.

Infinitium is a digital payments company that provides risk management and payment authentication services to banks across Singapore, Malaysia, Indonesia, Hong Kong, Brunei, Cambodia, the Philippines and India. That company offers 3D Secure (3DS) technology, which helps address fraud in eCommerce transactions by reducing the risk of unauthorized online payment transactions.

The 3DS market is estimated to be $1.2 billion and is forecasted to reach $2.8 billion by 2030, according to a release. Global e-commerce losses as a result of fraud reached $48 billion in 2023.

“Every stakeholder in the payments ecosystem has a strong incentive to adopt 3DS soon,” Euronet executive vice president and CEO Kevin J. Caponecchi said in the release. “With this acquisition, we have enhanced our Ren payments platform with industry-leading technology that provides modern, multi-channel transaction authentication across issuing and acquiring domains. With Infinitium’s next-generation payment gateway, we have added significantly more addressable market opportunity with this valuable enhancement to the Ren platform.”

The transaction will add approximately 200 software developers and architects to Euronet’s global workforce and a senior management team will remain with Euronet following the completion of the transaction.

Euronet ranked No. 7 on Ingram’s Top Area Public Companies by revenues in the 2023 Power Book. The company had a gross revenue of $2.9 billion in 2021 with more than 200 local and more than 5,600 worldwide employees respectively.