BancNet cardholders traveling to the United States will soon be able to access their ATM accounts anywhere in the U.S. through a new reciprocal agreement between BancNet and NYCE Payments Network, LLC, a leading U.S. electronic payments network and an FIS™ company.
The agreement between BancNet, the Philippines largest ATM network, and NYCE creates the first ever connection between a local Philippine ATM network and a U.S. network. It will allow cardholders reciprocal access to ATMs in both networks.
With this breakthrough development, cardholders of participating BancNet member banks will be able to withdraw cash and check their account balances through more than 400,000 ATMs across the U.S. located in all 50 states and U.S territories. NYCE also has over two million retailer locations throughout the U.S. BancNet and NYCE will work together to create new extended real-time payment services for their respective customers.
The reciprocal agreement will also enable the approximately 100 million NYCE cardholders to transact at participating BancNet ATMs when in the Philippines. BancNet has over 6,500 ATMs throughout the Philippines, including various popular tourist destinations like Boracay, Cebu and Palawan.
According to BancNet president Robert Blas, the interconnection with NYCE “is in line with our consortium’s mission to continuously develop new convenient services for our customers.”
“We are very pleased to enter into this new relationship with BancNet and its members,” said Neil Marcous, president, NYCE Payments Network, LLC and SVP, FIS. “We believe that this is an important first step in new services for cardholders in the Philippines and the United States.”
FIS is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Florida, FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 425 on the Fortune 500 and is a member of Standard & Poor’s 500® Index.
