BTI Payments Offers Innovative Self-Service Kiosks for Unbanked and Underservedby Fintech Philippines February 22, 2022
Self-service kiosks are a safer alternative, especially in today’s challenging times of COVID-19 because they are contactless. It provides a safer and more convenient way for people to meet their transactional requirements.
For a country like the Philippines, where there is still heavy reliance on cash for daily transactions, self-service kiosks installed in essential outlets proved vital during the lockdowns.
The paying public don’t have to travel far from their residence or workplace since there are alternative kiosk locations to meet their payment needs like supermarkets, pharmacies and convenience stores.
While the self-service kiosks are still at a nascent stage in the country, one company that has made it accessible is BTI Payments.
BTI Payments owns and operates 800 self-payment kiosks that are strategically placed nationwide to offer a variety of services including e-cash, e-money, loading, bills payment, RFID, and mobile phone top-ups.
A wholly-owned subsidiary of Australia-based Banktech, BTI Payments is certified by the Banko Sentral ng Pilipinas as an operator of payments systems that develops and deploys payments kiosks and independent ATMs.
“We’ve been able to serve at places where people are at.
We’re available in regular destinations where people will frequently visit.”
said Dan Ibarra, Chief Executive Officer, BTI Payments.
That’s the convenience that BTI Payments provides in terms of access.
Since its start of operations, BTI continues to serve its growing base of more than 3 million unique customers.
In 2021, these customers made over 9 million transactions with a turnover volume of almost PHP 20 billion.
The company has built an infrastructure to fully serve this untapped market to perform digital transactions.
Ibarra explains, that aligned with the target market of e-money wallets, BTI provides access to financial services for the unbanked or underserved.
All it takes is a few steps on the kiosk and transactions are processed and posted in real-time.
In order to make a payment, one can go to a store to find a Pay & Go self-service kiosk and insert the cash for the transaction.
They will have to enter their account number, mobile number and the payment will be processed immediately.
If there is any change that needs to be returned, the remaining amount will be credited to the MySukli wallet associated with their mobile number.
The Pay & Go kiosks are beneficial for the store owners in creating value for their customers by providing them with a hassle-free and contactless way to pay.
The kiosks are also an effortless way to offer more value-added services in any commercial establishment, turning them into financial hubs, increasing foot traffic and sales.
BTI offers an end-to-end solution, from deployment, to maintenance and customer care.
The Pay & Go kiosks accepts cash-ins from e-wallet players like GCash, PayMaya, Coins.ph and recently ShopeePay.
“The greater segment of our customers is the rapidly growing base of digital wallet users. They top-up through our kiosks to do various transactions like shopping online, ordering, or transferring money and paying bills.”
The growth and adoption of digital wallets is further fueled by mobility restrictions due to the ongoing pandemic, as many have moved away from traditional over-the-counter cash-in centers.
They have become frequent users of BTI’s self-service kiosks.
Ibarra is confident that its network will play a significant role in ensuring that such communities have a safe and convenient way to transact financially.
By taking the technology to places where financial service providers are not prevalent, BTI enables digital players to have a footprint of touchpoints to reach their customers.
Peter Blackett, General Manager, Strategic Development and Asia as well as Vice-Chairman of the Board at Banktech Australia said,
“BTI is committed with its mission to make services available to numerous communities by converting common stores to financial hubs.
By enabling communities access to financial transactions through its services, the company will continue to grow and make its services integral to more users.”
He also mentions that the growth in business volumes has been threefold in recent years.
He believes that the infrastructure developed by BTI Payments and the ongoing revolution towards digital transactions will drive and sustain the growth momentum for many years to come.