Euronet Worldwide acquires BPI ATMs to expand network in the Philippines

Global financial technology and payments solutions provider Euronet Worldwide Inc. is expanding its automated teller machine (ATM) network in the Philippines with the acquisition of hundreds of non-branch ATMs from the Bank of the Philippine Islands (BPI).

In a news release, Euronet said it acquired 500 non-branch ATMs from BPI.

The company said it will assume full responsibility for managing 300 of the acquired ATMs and integrating them with Euronet’s independent ATM network in the Philippines, “which will more than double Euronet’s ATM footprint in the country.”

The remaining 200 ATMs will continue to operate under the BPI brand with end-to-end operations outsourced to Euronet.

Euronet said that BPI customers will not be charged to use the acquired ATMs through a network participation arrangement.

“The diversification of our ATM network outside of Europe where we already have a strong presence is an important element of our growth strategy,” said Michael Brown, Euronet chairman and CEO.

“This agreement positions us as a catalyst of ATM consolidation with our superior technology, operational services and extended presence globally. The new geographies we entered are already proving to be solid investments, and we will continue to be aggressive in seeking similar opportunities in all parts of the world,” said Brown.

Euronet said BPI will continue to own and operate more than 2,500 ATMs located across the bank’s extensive branch network in the Philippines.

“We are excited to partner with one of the most reliable financial institutions in the Philippines. The ATM estate of BPI is one of the best-managed networks in the country, and through this partnership, we are committed to providing the highest standards of service to the customers of Bank of the Philippine Islands and other customers using these ATMs,” said Himanshu Pujara, managing director of Euronet Asia Pacific.

“BPI’s partnership with Euronet reflects our strong commitment to continuously enhance the banking experience. Euronet’s global expertise in managing ATM operations ensures that our clients will continue to experience secure and convenient banking through our ATMs. We look forward to the many client-centric innovations that we can provide through Euronet in the future,” said Ramon Jocson, chief operating officer of BPI.—Ted Cordero/AOL, GMA Integrated News