text: As an electronic payments processor and outsource 
  provider to banks and mobile operators, we see four 
  major trends driving the growth of our business. One is 
  the tremendous growth worldwide in electronic financial 
  transactions, particularly in emerging markets that are 
  going from cash-based to electronic payments. Two, 
  increased bank consolidation in Europe is creating more 
  ATM outsourcing opportunities. Three, we see a contin- 
  uing market for off-premise convenience ATMs in retail 
  locations. Four, a whole new customer base of mobile 
  phone operators is creating another electronic payment 
  bridge to generate transactions. 
  
  I can’t say this enough: 
  the market for distribu- 
  tion of prepaid mobile 
  airtime is huge in 
  Europe. Right now in 
  that market there are 
  more than 300 million 
  mobile customers and 
  more than 50% are 
  
  I have never been as excited about our potential since 
  we started this company. The world is changing around 
  us, and Euronet is uniquely positioned to provide the 
  secure, integrated solutions that meet the growing 
  demand. Our core business is now at a point where it is 
  essentially meeting its cash needs through its recurring 
  revenue stream. Our core transaction business grew 
  39% last year. Now that we’ve hit a critical mass, we 
  have more opportunities to pursue with bank and mobile 
  operator markets, and we continue to build on recurring 
  revenue generated by our transaction-processing engine. 
  
  prepaid customers. The mobile phone market in Europe 
  is expected to grow to more than 460 million by 2005. 
  Prepaid is also the fastest growing segment for mobile 
  phone operators in the US, and approximately 80% of 
  all mobile service in Indonesia is prepaid. 