Euronet Worldwide (EEFT): what its 10-K says it depends on

Suppliers

Sponsor banks and ATM cash providers

depends onnamed as a risk

Cash Providers: We rely on third-party financial institutions to provide a significant portion of the cash required to operate our ATM networks.Risk factors (Item 1A)

Mobile operators and content providers

depends onnamed as a risk

Commission and margin revenue or fee reductions by any of the content providers could also have a material adverse effect on our business, financial condition, or results of operations.Risk factors (Item 1A)

Partners and platforms

Visa Direct

depends on · 4.0 billion Visa® debit cards

This enables these companies to build financial solutions with real-time payment capabilities to the more than 639,000 cash pick up locations, 4.1 billion bank accounts, 3.7 billion digital wallet accounts and 4.0 billion Visa® debit cards via Visa Direct® the Euronet money transfer network reaches.Business (Item 1)

Digital media brands (iTunes, Google Play, Sony, Microsoft)

depends on · approximately 73% of total revenues and approximately 78% of gross profit for the epay Segment

In 2025, approximately 73% of total revenues and approximately 78% of gross profit for the epay Segment was from electronic content other than prepaid mobile airtime (digital media products).Business (Item 1)

Mastercard

depends onnamed as a risk

New laws or changes from organizations like Visa® and Mastercard® that limit our pricing or services could substantially affect our business.Risk factors (Item 1A)

Also named by AXP, CASH, COF, CPAY, DDS, FIS, FISV, GPN and 7 more

Visa

depends onnamed as a risk

New laws or changes from organizations like Visa® and Mastercard® that limit our pricing or services could substantially affect our business.Risk factors (Item 1A)

Also named by AFRM, AXP, CASH, COF, FIS, FISV, GPN, JKHY and 6 more

Walmart

depends on

Our sending agent network includes a variety of agents, including Walmart, large/medium size regional retailers, convenience stores, bodegas, multi-service shops and phone centers, which are predominantly found in areas with a large immigrant population.Business (Item 1)

Also named by AIOT, BRK/B, CART, COST, DG, DGX, FDX, KDP and 6 more

Other companies

CoreCard Corporation

100% of the outstanding equitynamed as a risk

On October 30, 2025, the Company completed the acquisition of 100% of the outstanding equity of CoreCard Corporation.Business (Item 1)

UNIDOS CO. LTD (Kyodai Remittance)

60% equity stake

On May 31, 2025, Euronet completed the acquisition of a 60% equity stake in UNIDOS CO. LTD, a leading funds transfer business in Japan operating under the name Kyodai Remittance.Business (Item 1)

Competitors

The Western Union Company

competes with · revenue approximately two times greater than our Money Transfer Segment revenuenamed as a risk

Our competition includes The Western Union Company, the leading competitor with revenue approximately two times greater than our Money Transfer Segment revenue.Business (Item 1)

MoneyGram International Inc.

competes withnamed as a risk

Our competitors include The Western Union Company and MoneyGram International Inc.Risk factors (Item 1A)

Places

Non-U.S. dollar countries

earns from · 76.6% of our revenuesnamed as a risk

For the years ended December 31, 2025 and 2024, 76.6% of our revenues were generated in non-U.S. dollar countries.Market risk (Item 7A)

Central and Eastern Europe

operates innamed as a risk

In addition, as consolidation of financial institutions in Central and Eastern Europe continues, certain of our customers have established or are establishing internal ATM management and processing capabilities.Risk factors (Item 1A)

Asia Pacific

concentrated in

The increase in transactions for the past few years is the result of a significant increase in the volume of lower value, real time payment processing transactions on any wallet or e-commerce site in Asia Pacific.Business (Item 1)

Also named by AIG, AVY, BLK, BNY, CCK, CL, COHR, DCI and 17 more

U.S. to Mexico remittance corridor

concentrated in

Additionally, in the U.S. to Mexico corridor, we usually experience our heaviest volume during the May through October time frame, coinciding with the increase in worker migration patterns and various holidays, and our lowest volumes during the first quarter.Business (Item 1)

Hazards

Ukraine conflict

named as a risk

The ongoing geopolitical tensions, including the conflict in Ukraine and the Middle East, highlight the potential for unforeseen events to significantly impact our business and financial results.Risk factors (Item 1A)

Tourism seasonality

concentrated innamed as a risk

Our EFT Processing business experiences its heaviest demand for cash withdrawals and DCC during the third quarter of the fiscal year, coinciding with the tourism season.Business (Item 1)

Commodities and inputs

Euro

exposed to its price · approximately $110 million to $120 millionnamed as a risk

As of December 31, 2025, we estimate that a 10% fluctuation in these foreign currency exchange rates would have the combined annualized effect on reported net income and working capital of approximately $110 million to $120 million.Market risk (Item 7A)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

British pound

exposed to its pricenamed as a risk

We are particularly vulnerable to fluctuations in exchange rates of the U.S. dollar to the currencies of countries in which we have significant operations, primarily the euro, British pound, Australian dollar, Polish zloty, Indian rupee, New Zealand dollar, Malaysian ringgit and Philippine peso.Market risk (Item 7A)

Also named by ABBV, ADBE, AJG, AME, AMP, APA, BF/B, BRO and 39 more

Australian dollar

exposed to its pricenamed as a risk

We are particularly vulnerable to fluctuations in exchange rates of the U.S. dollar to the currencies of countries in which we have significant operations, primarily the euro, British pound, Australian dollar, Polish zloty, Indian rupee, New Zealand dollar, Malaysian ringgit and Philippine peso.Market risk (Item 7A)

Also named by ADBE, BEN, BF/B, BTU, CSGP, EZPW, GPC, HRB and 13 more

Indian rupee

exposed to its pricenamed as a risk

We are particularly vulnerable to fluctuations in exchange rates of the U.S. dollar to the currencies of countries in which we have significant operations, primarily the euro, British pound, Australian dollar, Polish zloty, Indian rupee, New Zealand dollar, Malaysian ringgit and Philippine peso.Market risk (Item 7A)

Also named by ACN, ADBE, AJG, AVY, BEN, CIEN, CTSH, FDS and 11 more

Polish zloty

exposed to its pricenamed as a risk

We are particularly vulnerable to fluctuations in exchange rates of the U.S. dollar to the currencies of countries in which we have significant operations, primarily the euro, British pound, Australian dollar, Polish zloty, Indian rupee, New Zealand dollar, Malaysian ringgit and Philippine peso.Market risk (Item 7A)

Also named by MCD, UNM

Regulators

Consumer Financial Protection Bureau (CFPB)

subject tonamed as a risk

The CFPB audits our compliance with these rules, and we may be subject to fines or penalties for violations of any of such rules.Business (Item 1)

Also named by ABNB, AFRM, ALLY, AN, AUB, AXP, BAC, CASH and 61 more

Office of Foreign Assets Control (OFAC)

subject to

In addition to anti-money laundering laws and regulations, our products and services are subject to economic and trade sanctions laws and regulations promulgated by OFAC and other jurisdictions in which our products and services are offered.Business (Item 1)

Also named by ABNB, ADP, AIG, APP, BMI, BMNR, BPOP, CAT and 46 more

Financial Crimes Enforcement Network (FinCEN)

subject to

In summary, our Money Transfer Segment, as well as our agent network, is subject to regulations issued by the different state and foreign national regulators who license us, the Office of Foreign Assets Control ("OFAC"), the Bank Secrecy Act as amended by the USA PATRIOT Act ("BSA"), the Financial Crimes Enforcement Network ("FINCEN"), as well as any existing or future regulations that impact any aspect of our money transfer business.Business (Item 1)

Also named by ABNB, ADP, AFRM, BMNR, COIN, CORZ, FISV, SNEX and 2 more

U.S. state banking departments

subject to

Licensing requirements in the U.S. are generally driven by the various state banking departments regulating the businesses of money transfers and issuances of payment instruments.Business (Item 1)

Laws and programs

Uncommitted Loan Agreement (ATM vault cash)

depends on · $250.0 million, or 12% of our total debt obligations

Also, $250.0 million, or 12% of our total debt obligations, relates to an Uncommitted Loan Agreement, fully drawn and outstanding at December 31, 2025, for the sole purpose of providing vault cash for ATMs, that expires no later than June 19, 2026.Market risk (Item 7A)

EU Pillar Two Directive

subject to · 15 percent minimum effective tax rate

While we do not anticipate that the Pillar Two Directive will have a material impact on our tax provision or effective tax rate, we continue to monitor evolving tax legislation in the jurisdictions in which we operate, including eligibility for any transitional safe harbor rules.Risk factors (Item 1A)

General Data Protection Regulation (GDPR)

subject tonamed as a risk

Any failure on our part to meet the requirements of the GDPR could result in the imposition of fines and penalties that could affect our financial results.Business (Item 1)

Also named by A, AB, ABNB, ADBE, ADP, AGX, AIOT, AJG and 100 more

Foreign Corrupt Practices Act (FCPA)

subject tonamed as a risk

Because our services are offered in many countries throughout the world and we do business with a number of banks and other financial institutions owned or controlled by foreign governments, we face a higher risk associated with FCPA, the U.K. Bribery Act and other similar laws than many other companies and we have policies and procedures in place to address compliance with the FCPA, the U.K. Bribery Act and other similar laws.Business (Item 1)

Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more

Payment Card Industry Data Security Standard (PCI DSS)

subject tonamed as a risk

We could also experience a significant increase in payment card transaction costs or lose the ability to process payment cards if it fails we fail to follow payment card industry data security standards, which could materially adversely affect our business, reputation, results of operations and financial condition.Risk factors (Item 1A)

Also named by ABNB, AZO, BJ, BKNG, CASH, CASY, COST, DOV and 20 more

U.K. Bribery Act

subject tonamed as a risk

We are also subject to the applicable anti-corruption laws in the jurisdictions in which we operate, such as the U.K. Bribery Act, thus potentially exposing us to liability and potential penalties in multiple jurisdictions.Business (Item 1)

Also named by EMR, FSS, GXO, PH, TTEK, ULTA, WDFC

U.S. immigration policy and enforcement

subject tonamed as a risk

Because a significant portion of our U.S.‑based remittance transactions are conducted in person, reduced customer willingness to enter retail or agent locations may decrease transaction volumes.Risk factors (Item 1A)

Bank Secrecy Act / USA PATRIOT Act

subject to

In summary, our Money Transfer Segment, as well as our agent network, is subject to regulations issued by the different state and foreign national regulators who license us, the Office of Foreign Assets Control ("OFAC"), the Bank Secrecy Act as amended by the USA PATRIOT Act ("BSA"), the Financial Crimes Enforcement Network ("FINCEN"), as well as any existing or future regulations that impact any aspect of our money transfer business.Business (Item 1)

Also named by NTRS, RF

Second Payment Services Directive (PSD2)

subject to

Certain of our European product offerings, including in particular our money transfer services, merchant acquiring, and bill payment products, are regulated payment services requiring a license under the Second Payment Services Directive (PSD2).Business (Item 1)

Electronic Fund Transfer Act

subject to

In this regard, the U.S. federal government has implemented U.S. federal regulations for electronic money transfers, including the Electronic Fund Transfer Act, which provides consumer protections for international remittance transfers.Business (Item 1)