Here’s another convenient service that 7-Eleven has to offer in the coming month: it will now have a “cash-recycling” automated teller machines (ATMs) in 7/11 stores in the Philippines.
You read that right; come the month of June, you can now make real-time cash deposits and withdrawals in the nearest 7-11 shop.
This is possible because Philippine Seven Corp. (PSC)—the exclusive franchise holder of 7-eleven in the country—has come to terms with PITO AxM Platform Inc. (PAPI), a local unit of one of Japan’s banking giant Seven Bank Ltd, to distribute ATMs toward convenience stores.
PSC stated on an exchange disclosure on February 10 that features of these ATMs include a cash recycling function. This allows the machines to release banknotes deposited by 7-Eleven stores as well as customers of PAPI partner banks. What’s more, all ATM cardholders are permitted to use these machines 24 hours, seven days a week.
Let us remember that there had already been plants to set up ATMs in Philippine 7-Eleven shops since July last year. This was made clear by PSC chief executive and president, Jose Victor Paterno. According to Paterno, there has never been a time to formalize such a collaboration than the present.