Seven Bank Establishes Group Company In Malaysia, To Deploy ATMs In Selangor

Iman Aminuddin

13th June 2024 - 1 min read

Japan’s Seven Bank Ltd has expanded its international footprint by establishing its fourth overseas group company in Malaysia, and is set to deploy its first ATMs in Malaysia in Q4 this year.

According to Seven Bank, Malaysia is a promising market for its ATM business thanks to a combination of growing cash circulation and a low ATM machine per capita. With around 15,000 ATM machines around the country, Malaysia has a low 446 ATMs per million people.

(Image: Abdul Razak Latif)

In addition, Seven Bank will also leverage on 7-Eleven convenience stores as strategic sites for its ATM machines, allowing them to be located in regions with limited banking infrastructure. The initial rollout will see Seven Bank ATMs installed first in Selangor between October and December this year.

“As there are few ATMs placed within convenience stores in the locality, we will aim to intertwine finance and retail services by providing new financial services through convenience store ATMs by sequentially installing ATMs in 7-Eleven stores,” the company stated.

(Source: NST)

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Iman Aminuddin

Iman writes about personal finance with curiosity. She is interested in the stories behind money, the hesitation around big decisions, and the small habits that shape financial futures. Off the clock, she is either dissecting a film or climbing her way up the leaderboard in her favourite games.