Philippine Seven Corp. said it has partnered with Japan’s Seven Bank to put up a network of automated teller machines (ATM) in its 7-Eleven stores.
The new ATMs will facilitate both deposit and withdrawal compared to the current ATMs in select stores that allow only withdrawals, the company said.
The deployment of ATMs, to be done through Seven Bank’s local unit PITO AxM Platform Inc. (PAPI), will be begin in June and will cover all 7-Eleven stores.
Among the features of the new ATMs will be a cash recycling function that enables the machines to dispense cash deposited by the 7-Eleven stores and customers of PAPI partner banks.
Philippine Seven said the ATMs will initially offer basic ATM services but will later on include new services.
“In 2019, Seven Bank surpassed 25,000 ATMs in its home country. Through PAPI and its partnership with PSC (Philippine Seven), the Japanese financial institution will be able to bring its range of ATM solutions to the fast-growing Philippine market, its first rollout of recycling ATMs outside Japan,” Philippine Seven said.
Seven Bank is a unit of Seven & i Holdings Co. Ltd., the parent company of 7-Eleven Japan. Seven Bank specializes in providing ATMs in convenient locations across Japan.
