(23) Concentrations of Business and Credit Risk 
E u ronet is subject to concentrations of business and credit risk. Euro n e t ’s financial instruments mainly include trade accounts re c e i v a b l e s ,
cash and cash equivalents and investment securities. Euro n e t ’s customer base, although limited, includes the most significant intern a t i o n a l
c a rd organizations and certain banks in the markets in which it operates. There f o re, the Company’s operations are directly affected by the
financial condition of those entities. 
Cash and cash equivalents, and investment securities are placed with high-credit quality financial institutions or in shor t - t e rm duration,
high-quality debt securities. Euronet does not r e q u i re collateral or other security to support financial instruments subject to credit risk.
Management believes that the credit risk associated with its financial instruments is minimal due to the control pro c e d u res which monitor
c redit worthiness of customers and financial institutions.  
(24) Research and Development 
The Company regularly engages in re s e a rch and development activities aimed at the development and delivery of new products, services and
p rocesses to its customers including, but not limited to, bill payment and presentment, telephone banking products, applications for wire l e s s
application protocol (“WAP”) enabled customer touch points, other wireless banking products, GSM mobile prepaid re c h a rge products AT M
b rowser products and internet banking solutions as well as significant improvements to core software products. 
The Company’s re s e a rch and development costs incurred for computer products to be sold, leased or otherwise marketed totaled $6.7
million, $3.2 million and $153,000 for the years ended December 31, 2000, 1999 and 1998, r e s p e c t i v e l y. In 2000, $1.0 million was
capitalized and appears on the Company’s balance sheet in prepaid expenses and other assets, net of accumulated amortization of $137,000.
In 1999, $322,000 was capitalized, net of accumulated amortization of $70,000. 
(25) Employee Loans for Common Stock Program 
In October 1999 the Company’s Board of Directors approved and implemented a Loan Agreement Program (“Program”) for cer t a i n
employees under which the Company has loaned sums of money to participating employees in order for them to purchase shares of the
C o m p a n y ’s stock on the open market. The shares are pledged to the Company to secure the loans. As of December 31, 2000 166,195 share s
a re held by the Company as collateral for the loans. The loans carry five-year terms are non-recourse, non-interest bearing loans. The share s
vest to the employees in five equal tranches of 20 percent of the shares for five years, commencing at the date each employee began
employment with the Company. As the shares vest, the employees are entitled to pay off the loans and free the shares of the pledge. These
loans are considered an award of stock options as the loans are non-recourse and the employee is not obligated to pay any interest on the
loans. The loans have been accounted for as a separate component of stockholders’ deficit. In the event that any one of the employees
defaults on the term of the loans, the shares received by the Company will be re c o rded as tre a s u ry stock. 
(26) Sale of Croatian Network 
On November 19, 1999, the Company completed the sale of its Croatian ATM network to Raiffeisenbank Austria, d.d., a Croatian financial
institution (“RBA”), for consideration of $2.7 million. The carrying value of the Croatian assets was $2.0 million, resulting in a gain to the
Company of $657,000, re c o rded as an offset to operating costs. Subsequent to the sale of the network assets, the Company and RBA entere d
into an ATM services agreement whereby the Company will provide ATM management and other related services to RBA for an initial term
of 15 years. 
(27) Employee Benefit Plans