#7-Eleven ATM

The Philippine Seven Corporation (PSC), an exclusive licensor of 7-Eleven in the Philippines, has started rolling out cash-recycling ATMs that accept cash deposits in select 7-Eleven stores in Metro Manila. According to PSC, it began installing cash-recycling ATMs in alliance with Pito AxM Platform Inc (PAPI), a Philippine subsidiary of Seven Bank Ltd of Japan. Cash-recycling ATMs accept cash deposits via high-speed bill readers and dispense the same bills for withdrawals. According to PSC, this partnership shall establish the largest cash-recycling ATM network in the Philippines. Over 30 ATMs are now operational, and a total of 320 units will be active by June. "Cash-recycling ATMs are standard in Japan because it reduces the need to deliver cash and provides a reliable and convenient experience for receiving deposits. There are few of them in the Philippines because they are considerably more expensive than withdrawal-only ATMs. Seven Bank’s model of allowing several banks to share the ATMs so that more customers could use them without fees, and then installing them in a safe and convenient location like our stores made tremendous sense for us," said Jose Victor Paterno, CEO of Philippine Seven Corporation. Read more in our articles including "7-Eleven PH rolls out cash-recycling ATMs in select stores" and "OnePlus exits US, Europe markets; PH operations to continue".