The Philippines is expected to experience a surge in fraud committed against holders of automated teller machine (ATM) and credit cards over the next few years—the downside of having more people involved in the banking system as the country’s economy booms.
People withdrawing money from automated teller machines (ATM) are instinctively on their guard against anyone peeping from behind and seeing their bank details.
The Philippines’ first nonbank automated teller machine (ATM) deployer Electronic Network Cash Tellers (Encash) has sold 40 percent in new equity to foreign strategic investors, raising fresh funds to scale up a nationwide network targeted to breach the 1,000-ATM mark in five years’ time.
