STRATEGIC PARTNERS
December 26, 2001
TAIWAN -- Taiwan's Chinatrust Commercial Bank has signed a contract with American retailer 7-Eleven to install ATMs at 7-Eleven stores across the island. The agreement is part of 7-Eleven's plan to create a global financial services network and e-commerce platform.
7-Eleven, which has a similar agreement with Grand Commercial Bank in Taiwan, plans to ultimately have ATMs in 2,800 outlets, representing 80 percent of its stores on the island.
Chinatrust has already installed 25 ATMs in northern Taiwan. The ATMs feature standard functionality such as cash withdrawal, account queries and funds transfers. In the second stage of the program, advanced functionality such as ticketing will be added to the machines.
If the pilot project succeeds, Chinatrust expects to install more than 100 ATMs throughout Taiwan by the end of this year, increasing the number to 700 or 800 in 2002. Chinatrust Commercial Bank currently has a network of around 600 ATMs in Taiwan.
