7-Eleven to soon host ATMs

The Philippine 7-Eleven convenience chain will soon have automated teller machines (ATMs) in all of its stores through a partnership with a unit of Japanese financial institution Seven Bank Ltd.

In a disclosure to the Philippine Stock Exchange on Monday, Philippine Seven Corp. said it had signed a partnership with Seven Bank’s subsidiary PITO AxM Platform Inc. 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.

Among the features of the ATMs to be deployed is a cash recycling function that enables the machines to dispense banknotes deposited by 7-Eleven stores and customers of PAPI partner-banks. INQ