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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.
BancNet is also the exclusive gateway of China's UnionPay, allowing access to the nearly 1 billion ATM cardholders from the People's Republic of China. BancNet is allied with global payment brand JCB International. Through this alliance, JCB cardholders can now do cash advances at participating BancNet member ATMs nationwide.
BancNet introduced the BancNet Rewards Points program on August 15, 2009, the first points-based rewards system exclusively for debit purchases in the country. Every Php 25 in spend using an ATM debit or prepaid card of a member bank earned the cardholder 1 point. 2,000 points were needed to redeem the cash rebate of Php 100.
Equitable PCI Bank, Inc. (PSE: EPCI) was one of the largest banks in the Philippines, being the third-largest bank in terms of assets. It was the largest bank before it was overtaken by Metrobank in 1995. It is the result of the merger of Equitable Banking Corporation and Philippine Commercial International Bank or PCIBank.
The bank used to issue debit ... Most Visa Debit cards are connected to the national interbank network BancNet and is the ... and Japan's JCB Co., Ltd. are ...
The first bank to make such an announcement about the BancNet-Expressnet tie-up was Chinabank, of which its sister bank, Banco de Oro, is a member of Expressnet. Internationally, Expressnet cardholders (excluding Landbank and local BPI and Banco de Oro cardholders) are connected to Maestro and Cirrus in the cases of BPI and Banco de Oro and PLUS .
Japan Credit Bureau was founded in 1961 by Sanwa Bank (now MUFG Bank) and Nippon Shinpan (now Mitsubishi UFJ NICOS), as the country's second credit card issuer and payment network after the Japanese branch of Diners Club International. JCB firmly established itself in the Japanese credit card market after purchasing, and then absorbing ...
MegaLink implemented a Telco-agnostic mobile banking service. In 2013, MegaLink also interconnected with National ITMX in Thailand. [This paragraph needs citation(s)] In late January 2015, MegaLink and BancNet announced their merger. [1] BancNet is the sole surviving entity, while MegaLink has been repurposed. [2]