A 7-Eleven store Photo by LEO M. SABANGAN II.
The Philippine 7-Eleven convenience store chain operator has teamed up with a unit of Japanese financial institution Seven Bank Ltd. to deploy automated teller machines (ATMs) in its stores.
In a disclosure to the Philippine Stock Exchange on Monday, Philippine Seven Corp. (PSC) said it had signed a partnership with Seven Bank’s wholly-owned subsidiary PITO AxM Platform Inc. (PAPI) to equip local 7-Eleven stores with ATMs.
PSC – the leading convenience store chain operator in the Philippines with a total of 2,864 stores nationwide – expects the deployment of new ATMs to begin this June and cover all of its stores in the next few years. This is seen to give all ATM cardholders safe access to ATMs 24 hours a day seven days a week.
Among the features of the ATMs to be deployed is a cash recycling function that enables the machines to dispense banknotes deposited by 7-Elevn stores and customers of PAPI partner banks.
Seven Bank, which started operating in 2001, specializes in providing ATMs in convenient locations – such as 7-Eleven outlets, airports and train stations – across Japan. In 2019, its ATM network in Japan breached 25,000.