While apparent even before the pandemic hit, the possible ramifications of having limited access to financial tools, became more obvious when the lockdown began.
Thankfully, access to and usage of these financial services surged last year as a result, mostly because of the joint efforts by government bodies like the Bangko Sentral ng Pilipinas (BSP) and private sector industry players like BTI Payments Philippines, Inc., which successfully boosted financial inclusivity in the country.
A vision to provide more access ‘where Filipinos are at’
A subsidiary of Sydney-based, ATM-market-industry leader Banktech, BTI Payments Philippines Inc. was established in 2015 with the vision of providing payment solutions in underserved and underbanked communities. At the time, ATM density in the country was very low with an ATM to population ratio of 22 to 100,000 compared to neighboring counties which had 50 to 100 machines, serving every 100,000 residents.
With this lack of accessibility, BTI Payments began to deploy “Cash Connect” ATM machines accredited by Bancnet, in both urban and rural areas frequented by Filipinos. These machines allow anyone with an EMV-enabled and Bancnet accredited ATM card to withdraw cash conveniently.
In line with their mother company’s drive for innovation, BTI Payments also launched “Pay and Go” kiosks in community markets and convenience stores to further provide Filipinos easy and more convenient access to both e-money services and digital transactions.
At present, BTI Payments owns and operates more than 600 Pay & Go kiosks and Cash Connect ATMs nationwide, providing safer alternatives for Filipinos to transact at more locations, given today’s strict lockdown requirements.
A mission to innovate
The company’s successful and timely drive in the country can be attributed to the many innovations employed by Banktech, including its state-of-the-art ATM transaction processor called EFTEX, that is constantly updated to ensure the maximum security of their customers.
More than technological innovations, BTI Payments also employs a dynamic customer-first approach in upgrading its systems. Since its establishment, the company has regularly updated its transaction options, continuously simplified its machine interface, and further enhanced their customer care service through various digital channels that customers can easily access via Facebook, electronic mail, and chat.
Helping pave the way for economic recovery
“We are committed to doing our part in enabling digital transactions and contribute to financial inclusivity in the country, which is beginning to see results with the 5,000% surge in digital transactions, recorded by the BSP in 2020 and continues to increase this year.” said May V. Warren, Corporate Affairs Manager.
“We are doubling up on our efforts to provide more access points by installing more kiosks in new markets, and consistently innovating based on the valuable feedback from our customers.
So far, these efforts have yielded positive results. We want our services to reach and benefit more people in regional parts of the country. Our goal is to be a mainstream channel for transactional services especially during these trying times, more so during these times of limited mobility,” Warren added.
Alongside providing safe, secure, and accessible solutions through its machines, BTI Payments Philippines Inc. looks to enable increased economic activity to help foster the country’s much-needed recovery, sooner rather than later.
Find out more about the expertise of BTI Payments at btipayments.ph.
![](https://2ndopinion.ph/wp-content/uploads/2024/11/300x250.png"")
