Fourth ATM network set to go online

The country’s fourth network of automated teller machines (ATMs) is scheduled to go online next week, interconnecting the automated tellers and point of sales (POS) of rural banks, thrift banks, cooperatives, and non-government organizations (NGOs) all over the country.

Filipino-owned Infoserve Inc. said the Nationlink Network Corp. (NNC) was scheduled to launch "Nationlink," the fourth of such networks after Megalink, Bancnet and Expressnet.

Infoserve president and chief executive officer Jess dela Cruz III told reporters yesterday within the next year, the network planned to link up to a hundred ATMs of rural banks, thrift banks, cooperatives, and NGOs nationwide.

According to de la Cruz, Nationlink would be concentrated in the Visayas and Mindanao area after NNC entered into an alliance with the Enterprise Bank in Mindanao, Asian Hills in Bukidnon, Peninsula Bank in General Santos, Bank of Cebu, Legaspi Savings Bank in Bicol, Opportunity Microfinance Bank in Antipolo, and two cooperatives.

De la Cruz said Nationlink’s main market would be overseas Filipino workers whose families are in the rural areas with little or no access to large banking networks that are concentrated mainly in urban areas.

De la Cruz said the network would also target microfinance clients that prefer banking with rural banks, cooperative banks and thrift banks.

"Getting these previously unserved customers into the banking system, and giving them more convenient access to their cash, will definitely boost our economy," De la Cruz pointed out.

De la Cruz said Nationlink was supported by international and local partners led by telephone giant PLDT, chip maker Intel, American ATM maker Diebold, and Microsoft.

According to de la Cruz, NNC planned to get a chunk of the remittance business, setting up remittance kiosks as well as cash-in or cash-out counters in the countryside to provide OFWs a cheaper alternative in sending their money to the Philippines.

"Nationlink will allow more Filipinos in the rural areas to enjoy modern electronic banking conveniences like ATMs. It will provide local and foreign money remittance, microfinance and modern banking services to Filipinos who live in far-flung areas," dela Cruz said.