Gokongwei-backed GoTyme Bank will launch its automated teller machine (ATM) services in the Philippines in March, becoming the first digital bank to include this service in its banking ecosystem.
GoTyme bank has partnered with United States-based payment services firm Euronet Technology Services Inc. to launch a cobranded ATM service for account holders.
“We are expanding our network to even give you more access for cashouts. In fact, by the end of this year, you can expect to see several strategically located ATMS across key areas in the country such as mall, transportation terminals, groceries, offices and tourist spots,” GoTyme Bank head of technology Gigi Puno says.
For his part, Euronet managing director Sriram Jayakumar says that the partnership stems from their shared commitment with GoTyme Bank to provide secure access to cash and other payment services to millions of Philippine customers.
“GoTyme Bank, through our partnership, is able to leverage our unique platform to accelerate physical deployment of ATMs throughout the country,” he says, highlighting that ATM machines can be launched in less than 45 days.
Online banking boom
GoTyme Bank CEO Nate Clarke says the bank has seen a high level of growth since its Philippine launch in October 2022, noting a huge demand for an “upgraded banking experience.”
“In just 15 months, 2.5 million customers have switched to GoTyme Bank. In 15 months, we are already the No.7 bank in terms of Instapay transactions, the No. 4 bank by active Visa cards, the No. 4 by monthly active users,” says Clarke.
sA partnership between the Gokongwei group and the South Africa and Singapore-based Tyme, GoTyme Bank is one of the six digital banks licensed by the Bangko Sentral ng Pilipinas.
To date, GoTyme has 450 kiosks nationwide where adults can open an account and be issued a Visa debit card within five minutes by submitting one valid identification card, Philippine address and mobile number.