Ayala-led Bank of the Philippine Islands (BPI) has tapped Euronet Worldwide Inc., to enhance its ATM infrastructure to better serve customers who still rely on cash.
The expansion of its ATM network into Southeast Asia includes the installation of the company’s independent ATMs in the Philippines as well as the acquisition of 500 non-branch ATMs from BPI.
BPI COO Ramon Jocson said the partnership with Euronet reflects its strong commitment to continuously enhance the banking experience.
“Euronet’s global expertise in managing ATM operations ensures that our clients will continue to experience secure and convenient banking through our ATMs. We look forward to the many client-centric innovations that we can provide through Euronet in the future,” Jocson said.
Euronet Chairman and CEO Michael Brown said the continued diversification of its ATM network outside of Europe is an important element of its growth strategy.
“This agreement positions us as a catalyst of ATM consolidation with our superior technology, operational services and extended presence globally. The new geographies we entered are already proving to be solid investments, and we will continue to be aggressive in seeking similar opportunities in all parts of the world,” Brown said.
Euronet will assume full responsibility for managing 300 of the acquired ATMs and integrating them with the company’s independent ATM deployer (IAD) in the Philippines, which will more than double Euronet’s ATM footprint in the country.
The remaining 200 ATMs will continue to operate under the BPI brand with end-to-end operations outsourced to Euronet. BPI customers will not be charged to use these ATMs.
Meanwhile, BPI will continue to own and operate more than 2,500 ATMs located across its extensive branch network in the Philippines.
Himanshu Pujara, Managing Director at Euronet Asia Pacific, said the company is excited to partner with one of the most reliable financial institutions in the Philippines.
“The ATM estate of BPI is one of the best-managed networks in the country, and through this partnership, we are committed to providing the highest standards of service to the customers of BPI and other customers using these ATMs,” Pujara said.
