April 12, 2018
FEXCO – one of the world’s leading independent financial technology providers has announced a partnership with Bayad Center, the operator of the Philippines biggest and widest multi-channel payment platform.
Cardholders across the Philippines will now be able to withdraw cash using their ATM cards at selected Bayad Center Authorized Agent locations using EasyDebit’s PIN Entry Device and the Bayad Centre Retail Machine. The partnership sees FEXCO’s EasyDebit’s cash withdrawal service offered alongside Bayad Centers existing remittance and bills payment services, with further roll-out planned in the coming months.
EasyDebit works in the same manner as a traditional ATM allowing cardholders to withdraw cash from their checking and savings accounts, also allowing cardholders to do balance inquiries. EasyDebit is accredited to the highest security standards - PCI DSS, minimizing the risk for potential fraud and skimming activities.
Speaking at the launch, Ann Chan Foley, CEO at FEXCO Philippines, Inc. commented, “We are excited to announce this collaboration with Bayad Center, by offering EasyDebit’s cash withdrawal service through Bayad Center Agents we are significantly increasing access to cash for millions of cardholders throughout the Philippines.”
Bayad Center’s President Mr. Manuel Tuason also commented that “This partnership is in line with the thrust of Bayad Center in increasing its products and services to provide more convenience in the cash withdrawal service for more Filipinos whenever and wherever they may be.”
Servicing underbanked areas of the Philippines, EasyDebit the Philippines first microATM, has experienced a 70% increase in its Merchant base for Q1 2018.
Through partnering with Sari-Sari Stores, Remittance Centers and General Trade Stores, EasyDebit provides convenience to over 75 million Filipino cardholders who otherwise find it difficult to access their cash from their bank accounts.
Ann Chan Foley concluded, “At FEXCO Philippines, we greatly look forward to working with Bayad Center in rolling out this service and other services as we further extend access to cash and payment services for more Filipinos in the remotest part of the country.