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July 14, 2024

Japan’s Seven Bank, 7-Eleven install 1,500th ATM in Cebu

The Philippine unit of Seven Bank Ltd of Japan in partnership with Philippine Seven Corp. (PSC) continues to make safe and convenient banking accessible to more Filipinos as it expands its ATM services across the country, marking the activation of the 1,500th cash-recycling ATM in Casa Mira, Cebu City.

Pito AxM Platform Inc. (PAPI) and the exclusive licensor of 7-Eleven in the Philippines and PAPI, plan to have 150 cash machines operational in Cebu by the end of June.

“We are very happy to serve our precious customers in Visayas, and the ones in Mindanao very soon. We hope everybody appreciates our sophisticated ATM services imported from Japan,” PAPI president Masanori Sakaguchi said.

PAPI and PSC plan to deploy 1,500 additional cash machines by the end of 2022, aiming to cover the majority of over 3,100 7-Eleven stores nationwide.

“We have aggressively expanded the 7-Bank ATM network in Metro Manila and Luzon during the pandemic. This 2022, we reach another milestone as we set foot in Cebu, signaling our further expansion of ATMs in Visayas and Mindanao,” PSC president and CEO Jose Victor Paterno said.

PAPI also introduces government-owned Land Bank of the Philippines as its newest partner bank. Land Bank customers can now enjoy free transactions on ATMs at 7-Eleven stores beginning May 23.

Besides Landbank, PAPI has a partnership with BDO Unibank Inc. headed by bankero Nestor Tan to accommodate free cash withdrawals by its cardholders.

Likewise, other bank account holders may transact through BancNet, with a P10 transaction fee.

“More partner banks will be announced soon,” the company added.

ATMs at 7-Eleven stores are cash-recycling machines. The ATMs also have a unique feature of delivering the ATM interface depending on the customer’s bank, providing familiarity and ease of use.

PSC head of finance Lawrence De Leon said the ATMs provide an innovative solution to the cash handling requirements of 7-Eleven stores nationwide.

“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 creates a lot of value to our customers because of the convenience of having ATMs available 24/7 in a safe and secured location. The ATMs also provide flexibility in cash management since deposits are immediately credited to PSC’s corporate bank account,” De Leon said.