#Cash recycling ATMs

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. "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. With this, BDO Unibank account holders can withdraw or inquire about their balances free of charge at ATMs in 7-Eleven, and will soon be able to use the deposit function that is currently limited to 7-Eleven store cash only. By installing ATMs in 7-Eleven stores, we hope to make access to cash more convenient for numerous Filipinos and play our part in increasing financial inclusion," said Tsuneo Nagashima, President and Director of PAPI. GCash users are now able to withdraw money from any RCBC ATMs nationwide by simply using their GCash QR code. Read more in our articles including "7-Eleven PH rolls out cash-recycling ATMs in select stores" and "GCash users can now cash out via RCBC ATMs".