a bit more research

At the risk of being accused of ramping, I'm just throwing in a few more things I've found.
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This site shows e-pays current 15000 "points of sale"
http://www.e-payasia.com/about_ourdistnetwork.html

There are a total of 15000 points of sale (not including the recent 4500 atm's).
There are two different types of "points of sale"
(1) Terminals (such as petrol stations and Convenient Stores)
(2) SMS top ups.

Terminals have 7200 points of sale
And SMS has 7800 ponts of sale.
Totals 15000 points of sale.

An interesting point is SMS "points of sale" only exist in Indonesia, so there is obvious room for growth in Malaysia,Thailand and Pakistan.
The site also shows the breakdowns for the 7200 terminals, which are dominant in Malaysia (4600) again this displays room for growth in Indonesia, Thailand and Pakistan for terminals.
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http://www.e-payasia.com/about_achievementstodate.html

Euronet owns 40% of epay Malaysia and EPY (previously owned by Orion gateway) owns the other 60% as shown in the above chart.
Euronet is a far bigger company because it owns all of e-pay UK, poland -irleand-Austalia & NZ.........plus Erounet have a few more strings in their bow, one of them being ATM related software technology.

When EPY moves into china for "mobile top ups" Euronet go in with them because they are partners 40-60.
Eruonet have just made the first move into China's ATM's which is the prelude for the epay-Malaysia expansion.

http://biz.yahoo.com/bw/060125/20060125005484.html?.v=1

Euronet Enters China with an ATM Outsourcing Agreement with Postal Savings and Remittance Bureau
Wednesday January 25, 9:18 am ET

"Our proven ATM outsourcing and deployment solutions will provide PSRB the speed to market they demand to expand their ATM network, along with centralized management of their ATMs to operate efficiently in a competitive market."
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One last thing, Simon Loh currently holds 100 million shares (previously I said 140 million) the 100 million shares are escrowed until December 2006, if EPY does achieve $5 million in net profit for the full year, a further 36,250,000 shares will be issued to Simon Loh as final settlement of the purchase of e-pay Malaysia.
I would expect him to receive an offer from Erounet on that date, it is in Erounets interest to aquire the final 60% of EPY and they will be paying a lot more than the current 18c per share ;-)

http://www.e-payasia.com/investor_sharecapitalstructure.html