MANILA, Philippines - Automated teller machine (ATM) operator MegaLink has expanded its services to mobile phone users, enabling cellphone subscribers to load up or pay their bills through the network.
The two largest mobile phone service providers — Smart Communications Inc. and Globe Telecoms — have already enrolled in the newest service of MegaLink.
MegaLink president and chief executive officer Benjamin P. Castillo said Smart has expanded its capabilities since it has been working with the ATM provider for two years, while Globe is a recent partnership.
Aside from mobile phone loads, the service includes balance inquiries, fund transfer, credit top-up and bills payment.
Castillo said they are exploring other mobile banking services which the two telcos can jointly offer to the banks.
“MegaLink can offer its services to smaller banks that may not afford or may not have the know-how,” he said. Outsourcing of non-core banking services reduces a bank’s operating costs and allows the institution to focus on its core business.
Meanwhile, MegaLink revealed that it has been averaging 11 million transactions per month in its 2,800 terminals spread out nationwide through its 20 bank and non-bank member institutions.
It has a card base of over nine million who can access any of the 8,000 ATMs nationwide. Of its 20 members, two are non-banking institutions, one rural bank, eight thrift and development banks, and the rest are commercial and universal banks.