Dolphin Debit revenue grew 24% in 2018 thanks to new clients, ATM additions, more transactions
HOUSTON, TX (February 25, 2019) — Dolphin Debit, the full-service ATM management company, enjoyed continued strong growth across all areas of the company in 2018. The company’s revenue grew by 24 percent, and Dolphin Debit saw significant increases in ATM transactions and the total amount of cash dispensed.
Importantly, there were significant gains in the number of ATMs under Dolphin’s management as it added clients from across the country and increased the size of the ATM fleets for many existing clients.
Dolphin Debit experienced significant new client growth in the mid-Atlantic and west coast regions, areas in which Dolphin has expanded its operations in the past two years. There was also a sizable increase in the number of larger financial institutions, those with fleets of 30 or more ATMs, turning to Dolphin to manage their fleets.
Gary Walston, co-founder of Dolphin Debit, noted that for 2018 the number of ATM transactions was up by 22 percent, and the amount of cash dispensed was higher by 29 percent when compared with 2017.
“The primary reason that most credit unions moved their machines to Dolphin Debit in 2018 was compliance,” Walston said. “Early in the year, we saw some credit unions still playing catchup with the EMV mandate and even doing some late upgrades to Windows 7, but overall, their focus was on the coming need to switch over to Windows 10 in 2020.”
Walston said that concern about Windows 10 is further increasing so far in 2019, with more institutions coming on board as Dolphin clients or talking with the company about outsourcing to avoid the associated capital expenditure.
“When it comes to compliance, credit unions are increasingly realizing that the costs involved in upgrading machines nearing the end of their useful life can’t be justified, and the cost to replace ATMs is even greater. That’s when the value of outsourcing their ATM management becomes clear to them.”
About Dolphin Debit Access
Dolphin Debit Access, a subsidiary of Euronet Worldwide, Inc. (NASDAQ: EEFT) is a full-service ATM management company that owns and operates ATMs for financial institutions. Dolphin’s turnkey ATM service includes purchase and deployment of new ATMs, purchase of the financial institution’s existing ATMs, terminal driving, transaction processing, ATM maintenance, armored car service, communications, monitoring and dispatch, and cash management. Dolphin Debit operates all makes and models of ATM equipment in various branch and off-premise venues and works with 325 financial institutions across the United States. Combined with the strength of its global payments parent company, Euronet Worldwide, Dolphin is able to deliver technology and modernization through the company’s REN payments platform.