I googled a little and found a Belorussian article [1] that says, that first it is an American company (despite the name), second, it targets tourists, and third, they use DCC (dynamic currency conversion), so that when you want to withdraw euros from account in euros, they do double conversion, e.g. euro -> USD -> euro with very unfavourable exchange rate.

[1] https://www.alfabank.by/about/articles/main/Euronet_DCC_11_0...