ALEXANDRIA, Va.—Philippine Seven Corporation (PSC), which is operates 7-Eleven in the Philippines, announced it has installed its 2,000th ATM at a 7-Eleven in Davao City. The installation is the first ATM at a 7-Eleven in the city and was made possible through a partnership with Pito AxM Platform Inc. (PAPI), the local subsidiary of Japan’s Seven Bank, Ltd.
“We started the expansion of our ATM network in the Visayas last June, and 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,” said Jose Victor Paterno, president and CEO of PSC, in a statement.
PAPI and PSC partnered in February 2020 to install, operate and maintain ATMs at 7-Eleven stores in the Philippines, each equipped to be cash-recyclers. The ATMs also can change the ATM screen interface depending on the customer’s bank for familiarity and a better customer experience.
“The ATMs offer a pioneering solution to our 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,” said Lawrence De Leon, PSC’s head of finance.
The two companies plan to deploy cash-recyclers in over 2,500 7-Eleven stores nationwide by the end of 2022. PSC plans to announce additional partnership with local banks soon.
“The demand for ATM access in the Philippines continues to grow as we have observed during 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,” said Masanori Sakaguchi, president of PAPI.
Cardholders of BDO, the largest bank in the Philippines, and PSC’s newest partner bank Land Bank have free withdrawals at 7-Eleven stores. Meanwhile, the P10 fee for other banks remains the lowest withdrawal fee in the market, according to PSC.
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