MANILA, Philippines — A subsidiary of Tokyo-based Seven Bank Ltd. is set to deploy 2,500 automated teller machines and cash recycler in 7-Eleven stores nationwide as it aims to partner with more local banks.
Pito AxM Platform Inc. (PAPI), a partnership between Seven Bank and 7-Eleven operator Philippines Seven Corp. (PSC), continues to deliver safe and convenient banking 24/7 after installing its 2,000th ATM in the country and its first in Davao City.
PAPI president Masanori Sakaguchi said that the demand for ATM access in the Philippines continues to grow over the past few years.
“We hope to make bank transactions more accessible and practical for Filipinos from different areas, which is why we intended to start our installations in Mindanao before the end of 2022,” Sakaguchi said.
PSC and PAPI plan to deploy additional cash recyclers in over 2,500 7-Eleven stores nationwide by the end of 2022. It also aims to enter into more partnerships with other local banks.
PSC president and CEO Jose Victor Paterno said the partnership started expanding its ATM network in the Visayas last June.
“We now have over 150 ATMs installed across stores in Cebu City. Now, we are proud to provide ATM coverage in the island of Mindanao, marking our latest milestone in our effort to provide ATM convenience to our communities nationwide,” Paterno said.
In February 2020, PAPI partnered with PSC to install, operate and maintain ATMs at 7-Eleven stores in the Philippines.
As part of its commitment to sustainability, these ATMs are equipped to be cash-recyclers. Each also has a unique feature of adapting the ATM screen interface depending on the customer’s bank for familiarity and ensuring great customer experience.
PSC head of finance Lawrence de Leon pointed out that the ATMs offer a pioneering solution to cash handling requirements.
“There is no need to go to the bank to deposit sales for the day, allowing store operators to focus more on serving our customers. Our deposits then fund the withdrawals of both bank and non-bank clients. This innovation brings us closer in fulfilling our mission of providing modern convenience in the communities where we are present,” he said.
Cardholders of BDO Unibank Inc. and Land Bank of the Philippines still enjoy free withdrawals at 7-Eleven stores. Meanwhile, the P10 fee for other banks remains the lowest charge in the market.