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MegaLink (also spelled as Megalink) is a Philippine-based developer of mobile and banking software as well as a service provider for banks, specifically for Automatic Teller Machine (ATM) networks and point of sale systems for banks. It was established in 1989; it was later repurposed in 2015.
BancNet was founded on July 17, 1990, as the Philippines' second ATM consortium when the ATMs of eight banks, PCI Bank (later Equitable PCI Bank, now Banco de Oro), Security Bank, Chinabank, RCBC, Allied Bank (now part of PNB), Metrobank, International Exchange Bank (now part of UnionBank) and CityTrust Banking Corp. (now part of BPI) formed BancNet.
It is easy to generalize that BancNet, Expressnet EPS, and Megalink Fastlink are direct competitors. In reality, though there is very little overlap in their respective constituencies given that 50% to 60% of all ATM cards issued in the country are for payroll. Cash is the true competition of electronic payment systems.
ENS is a member of MegaLink, which is interconnected with the other Philippine interbank networks, i.e. BancNet and Expressnet. ENS was expected to provide a low-cost solution for banks and cooperatives who wish to implement ATM services compliant with global standards but cannot afford the costs [1] of connecting to the three main networks.
It intends to provide services previously unavailable in more remote areas of the Philippines, such as real-time remittance transfers and electronic bank account access. The network is the first Philippine interbank network to rely largely on wireless communications, specifically on Shops Work Unplugged (SWUP), a product offered by the ...
The UnionBank of the Philippines, one of the leading financial institutions in the country, has launched a two-way bitcoin automated teller machine (ATM), according to a story in local media ...
Expressnet is an interbank network connecting the ATM networks of seven major banks in the Philippines.It has the second-largest number of ATMs (largely due to the vast nationwide presence of Bank of the Philippine Islands Express Teller ATMs) and the smallest number of customers and member banks.
Currently, there are more than 13,000 EPS merchants throughout the Philippines. [citation needed] In 2005, the EPS expanded to include the ATM cards of Banco de Oro and Land Bank of the Philippines, both Expressnet members. However, many EPS merchants claim that their EPS terminal works only with BPI ATM cards or do not know how to use Banco de ...