31 July 2024,
Seven Bank, the banking arm of the Japanese parent chain of 7-Eleven plans to add more ATMs in Southeast Asia, particularly in Malaysia. This expansion is due to growing cash usage in the Southeast Asian market, according to a report by Nikkei Asia.
Seven Bank currently has 20,000 ATMs deployed oversees with around 27,000 in Japan. The bank gathers fees from partner banks in other countries. It has partnered with a Malaysian company that operates around 2,500 7-Elevens and will begin installing ATMs in those locations starting in November.
Currently in many Southeastern Asian countries, access is ATMs is limited as there are only 29 ATMs per 100,000 adults in the Philippines, 48 in Indonesia and 54 in Malaysia. Seven Bank aims to address this need, and currently has 3,017 ATMs in the Philippines and 7,959 in Indonesia.
The bank also plans to add additional features to its oversees ATMs such as biometric authentication, account opening and AI to predict cash demand.
“We’re also considering putting ATMs in supermarkets, shopping malls and other locations,” Tsuneo Nagashima, managing executive officer at Seven Bank, said in the report.
Source : atm marketplace
Full Article : https://www.atmmarketplace.com/news/7-eleven-to-deploy-atms-in-malaysia/
