7-Eleven, the most famous and most patronized convenience store in the country announced that by June, their stores will adapt financial transactions and will have automated teller machines or ATMs. Yes, you read that right, the company’s management said that 7-Elevens will have ATMs and people who would be in a store has the chance to do real-time financial transactions at their disposal.
So would this mean that 7-Eleven would start being an all-in-one store? Let’s see…
What types of ATMs would be available?
According to the company, 7-Elevens will have ATMs that can both do cash withdrawals and cash deposits. This will be perfect for people because they need not to haggle for the nearest ATM anymore.
Philippine Seven Corporation (PSC), the holder of the 7-Eleven franchise in the whole of the country said that they’ve partnered with PAPI or the PITO AxM Platform Incorporated or the local Japanese unit of the Seven Bank Ltd., the banking mogul to send out and establish ATMs to 7-Elevens in the country.
As per the PSC, the features of the “cash-recycling” ATMs would be the machines being able to perform withdrawals that dispense bank notes. The conglomerate even added that the availability of these 7-Eleven stores would be available everyday at any given time!
Among the features of the ATMs is a cash recycling function that enables the machines to dispense banknotes deposited by the 7-Eleven stores and customers of PAPI partner banks. All ATM cardholders can benefit from these ATMs 24 hours a day, seven days a week.”
Now that 7-Elevens will have ATMs, it’ll be easy for all of us to find cash. We have grown accustomed to the fact that we try to look for the nearest ATM from that 7-Eleven store you are in. Now, though, that won’t be a problem!
Before 2019 ended, the PSC recorded a total of 2,864 7-Eleven stores in the country. In contrast to that, the Seven Bank Ltd., had more than 25,000 ATMs in Japan which clearly gives out the hint that they’re planning on expandin.
Recycling ATMs outside Japan
The PSC said that through their partnership with the Japanese businesses and financial corporations, they’ll share some of their fast-growing ideas to the Philippines. Moreover, they said that these recycling ATMs that would be the first time outside Japan, would be what would mend and mitigate the rapid and outburst growth of the Philippine market.
Through PAPI and its partnership with PSC, the Japanese financial institution will be able to bring its range of ATM solutions to the fast-growing Philippine market, its first rollout of recycling ATMs outside Japan.”
Previous plans of ATMs in 7-Eleven stores
If you reside in areas like Metro Manila, you would notice that some 7-Eleven stores have ATMs. This was because the Jose Victor Paterno, the PSC Chief Executive Officer (CEO) and President announced that 7-Elevens will have ATMs back in July of last year.
He said that they took the time to think about this plan; more to formalize it to provide proper knowledge and information for people. Now, they’ve decided to pursue this plan.
There has never been a better time to formalize this collaboration than today, as a growing and increasingly digitized economy provides demand for digitizing cash, as the rapid growth in our Cliqq payments business has shown.”
He even added that the massive downloads of their CLIQQ App is a clear representation of how important payment channels are for Filipinos. Because of these data, Paterno said that installing and establishing recycling ATMs in 7-Eleven stores would be a benefit.
In addition, he mentioned that they plan on establishing and building other project and infrastructures to their current mapped plan.
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 six million downloads of our Cliqq app.”
What do you think about the fact that 7-Elevens will have ATMs? Could this be a good idea for the public? Or would this cause chaos inside convenience stores without the additive fact of purchase?
Let’s wait for the next few years for its nationwide roll-out; we’ll see whether or not the fact that 7-Elevens will have ATMs is something we really need.
Source: Yahoo News Philippines