BEIJING - Diebold Inc., in an effort to provide cash and other financial services for consumers, is cooperating with the Chinese oil supplier Sinopec Corp. and local commercial banks to deploy ATMs in Sinopec's fuel stations in Beijing.
Sinopec is China's largest oil-refining and petrochemical company and is an official sponsor of the Beijing 2008 Olympic Games.
According to a news release, Diebold and Sinopec have developed a plan to deploy ATMs in select Sinopec fuel stations in the Beijing metropolitan area beginning in September 2007.
Financial institutions in China have expressed interest in deploying and expanding their off-premises ATMs in fuel stations along two major thoroughfares in cities just outside Beijing, Diebold says. The Beijing branch of China Merchants Bank has installed its first Diebold Opteva 562 ATM at Shi Li He gas station, which is located in one of the busiest commercial areas in Beijing. Other Sinopec stations in and around primary business districts in Beijing also are being targeted by other China banks.
Sinopec's Beijing branch says it plans to remodel its 268 fuel stations in the Beijing area before the 2008 Olympics. The renovated stations are expected to provide additional services, such as convenience stores and automated car washes. Quick service restaurant drive-thru lanes also are expected at some of the larger stations.
"It is a win-win proposition for all parties involved," said Daniel Hu, Diebold's vice president and managing director for North Asia and China. "With its secure and well-established network in the Beijing area, Sinopec is strengthening its overall competitive advantage in the marketplace by providing more value-added services through this network-remodeling initiative. And because Sinopec owns nearly 30,000 fuel stations throughout China, it is also an excellent opportunity for banks to leverage this huge network, increase revenue and expand consumer touch points via high quality, around-the-clock ATM services."
