Philippine Seven Corp. (PSC), the exclusive licensor of 7-Eleven brand in the Philippines, said Thursday it will be installing its stores in the southern Philippines with automated teller machines (ATMs) after it expanded its ATM network to a total of 1,000 stores in Metro Manila, Cavite, and Laguna.
The convenience of withdrawing money at 7-Eleven stores was made possible through PSC’s partnership with Pito AxM Platform Inc. (PAPI), a subsidiary of Seven Bank Ltd. of Japan.
Seven Bank, which operates more than 25,000 ATMs in Japan, established PAPI in April 2019 to promote its ATM business in the country.
In February 2020, PAPI entered a business alliance with PSC, intending to install, operate, and maintain ATMs at 7-Eleven stores in the Philippines.
In a statement, PSC said that in partnership with PAPI it will install 1,200 ATMs in 7-Eleven Stores in NCR and major markets in Luzon.
By the end of 2022, ATMs will be available in the cities of Cebu, Cagayan de Oro and Davao “allowing the alliance of the two companies to increase its presence in the underserved segments of the market,” the company said.
“Installing ATMs in more stores is one of the key pillars of our Convenience Plus strategy. Convenience Plus has been our approach to meeting more customer needs since the start of this pandemic. Our stores now offer not only a wider assortment of merchandise, but we are also leveraging our store network to offer bills payments, e-wallet cash-ins, and other financial services to serve our communities better,” said Jose Victor Paterno, president and CEO of PSC.
“The ATMs provide an innovative solution to the cash management requirements of our 7-Eleven stores. The sales are deposited by our store operators and the ATMs ‘recycle’ the cash to fund withdrawals of the customers of the different banks. This also creates a lot of value to the individual bank account owners because of the convenience of having ATMs available 24/7 in a safe and secured location,” said Lawrence de Leon, PSC head of Finance.
For his part, Tsuneo Nagashima, chairman of PAPI, said, “We are very grateful to PSC and our many other partners for their support in reaching this milestone of 1,000 ATMs installed.”
“Yet this is just the beginning. We look forward to delivering the safety and convenience of our ATM service in many more 7-Eleven stores as we grow the install base,” Nagashima said.
Masanori Sakaguchi, president of PAPI, likewise, said, “The more we install ATMs, the higher the expectations of our customers grow. We are committed to working hard every single day together with our partners including PSC …….