Financial services provider BTI Payments is setting its sights to serve a growing market of digital services. To date, BTI has reached over 1,000 locations nationwide and is continuously expanding its reach to bring its services closer to the underserved market.
BTI Payments is moving forward following its legal dispute with Manila Express Payments Systems (MEPS), which was recently resolved through the Philippines Dispute Resolution Center Inc. (PDRCI).
BTI has accepted PDRCI's ruling and is implementing its terms. For its part, MEPS has decided to go through the appeals process. This, however, does not impact BTI's ability to continue with its current self-service payment solutions and focus on meeting the needs of its key partners for more deployments.
Basic financial services to be bridged
Access to financial services remains a significant issue for many Filipinos, particularly those living in low-income and minority communities. According to a 2021 report from the Bangko Sentral ng Pilipinas, 42.9 million adults, which is equivalent to 56% of the population, do not have a bank account.
This lack of access to mainstream financial services means they cannot use the appropriate tools, services and resources to manage their finances, build wealth, and improve their livelihoods for themselves and their families.
Cash to digital
BTI Payments is working on innovative solutions to bridge the gap between cash and digital transactions. BTI’s Pay & Go kiosks and Cash Connect ATMs allow individuals to access financial services regardless of location or financial capabilities. The company's goal is to contribute to financial inclusion and serve the excluded public.
Pay & Go kiosks allow users to purchase airtime, pay bills and load their digital financial accounts. CashConnect ATMs are deployed in locations where they are needed most. With these solutions, BTI Payments is making it easier for millions of Filipinos to access their financial accounts.
BTI Payments is a leading provider of self-service payment kiosk solutions in the Philippines, holding certifications from the Bangko Sentral ng Pilipinas (BSP) and accreditation as an independent ATM deployer from Bancnet.
The company is a subsidiary of Banktech, a well-established ATM and payment technology enterprise with over 30 years of experience in the industry. Banktech owns and operates over 16,000 payment terminals in Australia, India and Southeast Asia.