MegaLink
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MegaLink (also spelled Megalink) is an interbank network connecting the ATM networks of twenty-three major banks in the Philippines. It is the largest interbank network in the Philippines in terms of members, ATMs, and transactions, but is the second-largest in terms of member banks.
MegaLink is also known for its belief in universal sharing, which in turn led to it being the only ATM consortium linked to both BancNet and Expressnet.
At present, MegaLink has 9.5 million customers and has 1,668 ATMs operating 24 hours a day. However, if the BancNet and Expressnet ATMs are counted, MegaLink has a hold on 5,750 ATMs nationwide, the largest in the Philippines. With this belief, the motto of MegaLink is "The Card for All."
History
MegaLink was formed on September of 1989 as the first ATM consortium in the Philippines. Consisting of Equitable Bank (now Equitable PCI Bank), Far East Bank (now part of BPI), Philippine National Bank, and United Coconut Planters Bank, MegaLink became operational on March 19, 1990 with a total of 88 ATMs, 130,000 customers, and an average of 200 transactions a day.In 1993, ATM Bersama, an Indonesian interbank network, looked to MegaLink to establish its model, which eventually led to a partnership. Bills payment via ATM was also launched that year, as well as PayLink, the MegaLink EFTPOS network. In 1994, MegaLink ATM cardholders were opened to the outside world when Equitable Bank linked its ATMs to the PLUS and Cirrus networks of VISA and MasterCard respectively. PhoneLink, the MegaLink telephone banking service, was also launched.
With its belief in universal sharing, MegaLink forged an alliance with BancNet in 1995 and with Expressnet on May 6, 1997.
Internet banking and mobile phone banking for Smart customers were launched in 2004, while bill payment facilities to Smart subscribers became available in 2005. Inter-bank funds transfer via the ATM was also launched in 2004.
Today, MegaLink is known as the largest Philippine ATM consortium, with 9.5 million customers, 23 member banks, and 300,000 transactions.
Members
MegaLink is the primary network of the following banks listed below:Current members
- Asiatrust Bank
- Bank of Commerce
- Development Bank of the Philippines
- Equitable PCI Bank
- Equitable Savings Bank
- GSIS Family Bank
- Insular Savings Bank
- International Exchange Bank
- GE Money Bank(GE Capital Bank)
- LBC Bank
- Maybank²
- One Network Bank
- Pacific Ace Savings Bank
- Philam Savings Bank
- Philippine National Bank
- Philippine Veterans Bank
- Planters Development Bank
- Premiere Development Bank
- Queen City Development Bank
- Robinsons Savings Bank
- Union Bank of the Philippines
- United Coconut Planters Bank
See also
External links
- [MegaLink]
| Philippine interbank networks
|
|---|
| BancNet | ENS | Expressnet | MegaLink | Nationlink |
| Interbank networks by region | |
| Multiregional: | Cirrus | Maestro | PLUS |
| Africa: | 123 | CashNet | Interswitch |
| Asia Pacific: | 1Link | ALTO | Artajasa | atm5 | ATM BCA | ATM Bersama | BancNet | Cashnet | CashTree | CSC | ENS | ETC | Expressnet | Himbara | JETCO | Link | MEPS | MegaLink | MITR | MNET | Nationlink | Superkasa | UnionPay |
| Caribbean: | ATH | Midas | Unired |
| Europe: | 4B | Altın Nokta | BankAxept | BKM | CB | DIAS | Eufiserv | Euronet | Multibanco | Ortak Nokta | Otto | ServiRed | StarNet |
| North America: | Credomatic | Interlink | Interac | NYCE | Pulse | RED | Red Total | SHAZAM | STAR | The Exchange |
| South America: | Interbank | Link | Redbanc | Telebanco | Unicard |
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