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Nationlink (interbank network)
From Wikipedia, the free encyclopedia
Nationlink is an interbank network and EFTPOS network in the Philippines. Unlike the main existing networks, which are BancNet, Expressnet and MegaLink, Nationlink is not expected to compete with those networks. Instead, it seeks to complement those networks by extending the reach of ATMs in the countryside, as the main networks are largely concentrated in urban areas. Its closest competitor is expected to be the Encash Network Service, set for launch at the end of 2006.
Nationlink's members is expected to consist mostly of savings banks, credit unions, rural banks, cooperatives and non-governmental organizations, and would largely be concentrated in the rural areas, where the reach of ATMs are more limited than in the cities. The network is expected to focus heavily on the overseas Filipino worker (OFW) market, since many OFWs and their dependents hail from the provinces. It also intends 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 also the first Philippine interbank network to depend largely on wireless communications, relying on a new product called Shops.Work.Unplugged, or SWUP, a product offered by the Philippine Long Distance Telephone Company, or PLDT. Nationlink ATMs have built-in wireless modems which communicate with the PLDT landline telephone network wirelessly. Through SWUP, the network can install ATMs almost anywhere.
The network debuted in Davao City on May 18, 2006, and is supported by PLDT, Microsoft, Intel and Diebold, as well as other companies.
When Nationlink debuted on May 18, the following banks were its launch customers:
- Asian Hills Bank
- Bank of Cebu
- Community Rural Bank of Dapitan City
- Enterprise Capital Rural Bank
- Legaspi Savings and Loan Bank
- Opportunity Microfinance Bank
- Peninsula Bank
Two cooperatives also joined the Nationlink network.
- Philippine Daily Inquirer article on the launch of Nationlink
- Philippine Star article on the launch of Nationlink
- Manila Times article on the launch of Nationlink
| Philippine interbank networks |
|---|
| BancNet | ENS | Expressnet | MegaLink | Nationlink |