BancNet

rdf:langString BancNet

rdf:langString BancNet

rdf:langString Nestor V. Tan

rdf:langString Fabian S. Dee

rdf:langString BancNet logo.svg

rdf:langString BancNet (also spelled Bancnet) is a Philippine-based interbank network connecting the ATM networks of local and offshore banks, and the country's single interbank network in the Philippines in terms of the number of member banks and annual transactions. Due to its status as the country's single ATM switch operator, it is designated by the Bangko Sentral ng Pilipinas (BSP) as the country's national ATM network. BancNet is also the exclusive gateway of China's UnionPay, allowing access to the nearly 1 billion ATM cardholders from China. BancNet is allied with global payment brand JCB International. Through this alliance, JCB cardholders can make cash advances at participating BancNet member ATMs nationwide.Bancnet interconnects with international card networks Diners Club, Discover, KFTC, Mastercard, and Visa. BancNet serves more than 41 million ATM cardholders of its 124 members and affiliates with over 21,000 ATMs and more than 304,000 POS terminals. In 2008, Expressnet outsourced its ATM operations to BancNet. On January 30, 2015, BancNet and MegaLink announced their merger and will retain itself as its brand. With this and having no more competition, BancNet has become the Philippines' single ATM switch and major cashless transactions and payments network operator.