Encash Network Services, or ENS, is an independent switch network in the
Philippines
The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no),
* bik, Republika kan Filipinas
* ceb, Republika sa Pilipinas
* cbk, República de Filipinas
* hil, Republ ...
. It initially connected the ATMs of four rural banks. In its 30 months of operation as of May 2010, this network eventually expanded to more than 101 ATMs, targeting all rural banks and cooperatives. ENS is a member of
MegaLink, which is interconnected with the other Philippine interbank networks, i.e.
BancNet
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 tr ...
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
of connecting to the three main networks.
ENS operates a switch-in-front architecture, connected to appropriate transaction authorization entities. These were to include Member Bank CA/SA systems, electronic money/wallet systems, and
Visa or
Mastercard. The switch network is geared toward accepting transactions using other front-end devices, e.g., POS. Thus, ENS presents both rural and commercial bank ATM cardholders with more access to ATMs.
On June 8, 2010, ATM withdrawals for the year reached one million, while ENCASH ATMs dispensed more than Php 3 Billion.
ENS launched the ATM portion of its interbank network on November 16, 2007.
See also
*
BancNet
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 tr ...
*
MegaLink
*
Expressnet
*
Nationlink
*
ATM usage fees
ATM usage fees are the fees that many banks and interbank networks charge for the use of their automated teller machines (ATMs). In some cases, these fees are assessed solely for non-members of the bank; in other cases, they apply to all users.
...
References
External links
Encash Network Services websitePhilippine Daily Inquirer article on the launch of the Encash Network Service
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Interbank networks
Financial services companies of the Philippines
Companies based in Makati