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English Español Philippines: 7-Eleven to add modern ATMs in stores

The partnership with PAPI will facilitate real-time cash deposits and withdrawals in 7-Eleven stores starting June.



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Author: PetrolPlaza Correspondent Pablo Plaza

Convenience store branch Philippines Seven Corp. (PSC), operator of 7-Eleven brand in the country, is partnering with PITO AxM Platfrom, Inc. (PAPI) to add new ATMs in its stores.

PSC announced that the partnership with PAPI, a subsidiary of its sister firm Seven Bank Ltd., will facilitate real-time cash deposits and withdrawals in 7-Eleven stores starting June. The ATMs will be equipped with a “cash recycling” function that will allow them to dispense banknotes deposited by 7-Eleven and customers of PAPI partner banks.

“The payments we take in initially provide a steady supply of cash for ATM customers to withdraw, and we look forward to building other services atop the combined infrastructure of nearly 3,000 stores, recycling ATMs and 6 million downloads of our Cliqq app,” commented president and chief executive officer of PSC, Mr. Paterno.

The entry of “recycling ATMs” through 7-Eleven will be the first time Seven Bank is bringing the technology out of Japan and into the Philippines.

Both companies will initially offer basic ATM services upon the start of the project, but they are also aiming to provide new services through PAPI’s ATM platform in the future as well. The deployment of the ATMs is expected to be in all stores in the next few years.

PSC had 2,864 7-Eleven stores in its network as in December 2019. The company’s partnership with PAPI is expected to expand sister firm Seven Bank presence in the Philippines.

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