Bengaluru, October 21, 2024: AGS Transact Technologies Limited, one of the leading providers of integrated omni-channel payment solutions in India, providing digital and cash-based solutions to banks and corporate clients, today announced that the Philippines’s largest bank-agnostic network of mobile ATM RCBC ‘ATM Go’ deployed by the Philippines’ fastest growing bank Rizal Commercial Banking Corporation (RCBC) and powered by our international Group Company Novus Technologies Pte. Limited, has reported remarkable growth. RCBC’s ATM Go serves as the last mile in delivering banking services nationwide.
The Bank announced ATM Go’s revenue increase by 50%, and gross transaction value rose by 31%, as of August 2024. Additionally, compared to the previous year, the number of deployed terminals and merchant partners surged by 113% and 150%. By August 2023, ATM Go had already hit US$ 132.1 million in value (PHP 7.5 billion).
AGS Transact’s international Group company earns revenue in the form of monthly fixed fee and transaction fee.
The pioneering RCBC ATM Go powered by Novus Technologies, is Philippines’ first bank-agnostic, last-mile, and community mobile ATM, and has been built in a partnership between Novus Technologies and RCBC. It boasts of 100% nationwide coverage, available in 96% of cities and 51% of municipalities. This innovative solution enables cash withdrawals and deposits, bank transfers, account management, e-load purchases and bill payments. To date, it has benefitted over 10 million families, with 60% of transactions conducted by rural women engaging with ATM Go agents on a monthly basis in geographically isolated and underserved areas.
As the only private universal bank present in all provinces of the Bangsamoro Autonomous Region in Mindanao, RCBC is uniquely positioned to drive financial inclusion. It has witnessed over 90% of ATM Go transactions originating from rural communities and 68% of our users being rural women, which reaffirms the powerful role that access to banking services plays in empowering individuals. Further, around 60% of these transactions are linked to Conditional Cash Transfer (CCT) programs.
RCBC’S ATM GO leverages the secure and robust technology stack provided by Novus Technologies, ensuring reliable access to cash withdrawals, deposits, transfers, and bill payments, even in remote areas. Further, the seamless integration of Novus’ platform with RCBC’s core systems enables real- time transactions, promoting financial inclusion for millions who face barriers to traditional banking. It is PCI-DSS compliant and equipped with advanced fraud detection mechanisms.