FEXCO Partner with Bayad Center to Offer Cash Withdrawal Services to Underserviced Filipinos

FEXCO – one of the world”s leading independent financial technology providers has announced its 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 at selected Bayad Center locations throughout the Philippines, 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 micro ATM, 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.’

Notes to the Editor 

About FEXCO 

FEXCO is Ireland”s most successful multinational payments, financial and business solutions provider, with operations in 29 countries worldwide. Founded and headquartered in Ireland in 1981, FEXCO employs more than 2,300 people across Europe, the Middle East, Asia-Pacific, North America and Latin America.

FEXCO serves some of the world”s biggest brands across multiple industries through a wide range of innovative products and services including; Dynamic Currency Conversion (DCC), Multi Currency Pricing (MCP), Tax Free Shopping and Retail FX. FEXCO also offers bespoke Managed Business Solutions and Outsourcing services as well as a full suite of payment management solutions through its Corporate Payments business.

For 36 years FEXCO has been driven by an entrepreneurial and innovative spirit. This ethos has brought the company to new regions and industries of growth, connecting customers with exciting new opportunities. Through its commitment to partnership and innovation, the company has built an international network of customers. To find out more visit http://www.fexco.com

About EasyDebit 

FEXCO has developed a microATM card solution for merchants, that allows such merchants who do not have card terminals to accept debit and ATM cards from customers and enable them to withdraw cash using their cards. To find out more visit http://www.easydebitasia.com

About Bayad Center  

Bayad Center is the country”s pioneer and leader in the multi-platform bills payment collection business. To know more about Bayad Center visit http://www.bayadcenter.com

MANILA, Philippines, April 15, 2018 /PRNewswire/ —