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Philippines: Technology providers join for easy access to cash

Categories : Cash is efficient
November 16, 2016
Tags : Asia, ATM, Technology, User-friendly
Filippinos will now have better access to cash withdrawals thanks to Fexco's and Encash's partnership for a mobile cash withdrawal solution.
Communication Team / Equipo de Comunicación

The Philippines will soon have access to their first mobile cash withdrawal solution following a partnership between Fexco and Encash.  

In a country where 95% of all transactions are carried out in cash but where only 19,000 ATMs are available to a population of 100 million, this solution will be a blessing to many. In fact, some Filipinos find themselves commuting up to 4 hours only to access an ATM.

The partnership will allow 75 million BancNet customers to withdraw cash at any accredited location which includes retailers, cooperatives and rural banks. The solution is very easy to integrate for merchants – they simply need to download the dedicated mobile app – and will offer them an additional revenue opportunity.

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