Euronet, the global payments processor and cross-border transfer company, has reported its Q1 2026 results, with its Money Transfer segment seeing slight growth despite volatility caused by the conflict in the Middle East and other economic pressures.
Euronet’s Money Transfer division – made up of consumer remittance company Ria, real-time cross-border payments network Dandelion and foreign exchange service provider Xe – saw revenues increase by 2% YoY in Q1 2026 to $425.2m. This supported 11% growth in Euronet’s overall revenue to $1.01bn for the quarter.
However, Money Transfer segment revenue fell 4% on a constant currency basis, with the company attributing this decline to the ongoing impact of the US remittance tax on cash transactions impacting transfers sent from the US to Mexico, as well as reduced volume in the Middle East.
Meanwhile, adjusted EBITDA for Euronet’s money transfer division fell 6% to $48.3m, resulting in a margin of 11% – down from 12% in Q1 2025. During the latest earnings call, CEO Michael Brown explained that the company expects pressures caused by immigration policy and Middle Eastern conflict to only impact Euronet’s results in the short-term, with plans to focus on improving efficiencies to help drive growth across its three main business segments.
Of these, EFT Processing, which contains the company’s ATM and PoS terminal network, saw the fastest growth, with revenue rising 27% to $295.4m. Euronet’s epay segment, made up of its prepaid and payment processing solutions, also saw faster growth YoY (10% to $293.5m). Despite this, the Money Transfer segment continues to make up the largest share of overall revenue, accounting for 42% in Q1, while EFT and epay both accounted for 29%.
Euronet says that it was largely able to offset headwinds impacting its Money Transfer segment through growth in consumer-to-consumer digital transactions, growth in markets outside of the US and the expansion of the Dandelion cross-border payment network.
Though the overall number of transactions fell by 2% compared to Q1 2025, Euronet reported 35% growth in digital transactions, alongside a 42% increase in new digital customers. The company’s Dandelion cross-border payments network has also seen further expansion, increasing to around 651,000 network locations by the end of Q1 – a 4% increase YoY. Overall, Brown said that Euronet saw “strong double-digit growth” for Dandelion, resulting in its “strongest quarter to date”.
During Q1, Euronet also established new stablecoin rails in partnership with stablecoin infrastructure player Fireblocks. Using these rails, and with plans to expand them further over time, the company intends to reduce the need to pre-fund correspondent banks across the globe, meaning money transfers are cheaper and require less setup, as well as being faster – particularly over weekends.
Following these results, Euronet said that it remains confident it can fulfil its full-year plan to deliver between 10% and 15% adjusted EPS.
