Fexco launch Philippines service

FEXCO has announced a new partnership with Electronic Network Cash Tellers (ENCASH) to launch the first-ever mobile cash withdrawal solution in the Philippines.

Through ENCASH’s substantial customer network, the Fexco EasyDebit solution will soon serve over 75million BancNet cardholders, allowing them easier access to cash across the Philippines, a country significantly underserviced by its ATM network.

The Philippines is a cash-centric culture where more than 95 per cent of all transactions are completed with the Peso in hand.

There are less than 19,000 ATMs for over 100 million people in the country and the local ATM can often be a bus or ferry journey away.

Fexco EasyDebit is a unique service that uses a mobile Point of Sale and a mobile phone allowing customers to withdraw cash using their ATM card at any number of local accredited merchants instead of having to travel to an ATM.

“EasyDebit is testament to the innovative culture we have in Fexco,” Fexco CEO Denis McCarthy said.

“Not only are we focused on developing the next breakthrough FinTech idea but also on building practical solutions that bring real value to our partners the world over. In the area of Negros Occidental, for example, in Central Philippines, it takes over four hours to travel to the nearest ATM, making access to cash extremely difficult for people there.

“EasyDebit will reduce reliance on ATM’s and encourage financial inclusion, a core value of Fexco.

“We are extremely proud to launch this truly innovative but also hugely beneficial service and look forward to extending EasyDebit to Vietnam, Indonesia and Cambodia over the coming years,” he added.