MegaLink is a Philippine-based developer of mobile and banking software as well as a service provider for banks, specifically for automatic teller machine networks and point of sale systems of banks in the country. From its establishment in 1989 until 2015, it pioneered the interconnectivity of several banks in the country by way of being the first interbank network with different banks as its members. At planned re-purposing and decommissioning, it had a total of more than 2,921* automated teller machines nationwide and handled more than 795,000* transactions a day. MegaLink was the largest interbank network in the Philippines with 13.1 million cardholders. MegaLink was also known for its belief in universal sharing with the motto of "The Card for All." By late January 2015, MegaLink and BancNet announced their merger. BancNet would be the sole surviving entity, while MegaLink would be re-purposed. MegaLink now lists itself as a BancNet member, under the independent ATM deployer category.
History
MegaLink was formed in September 1989 by Equitable Banking Corporation, Far East Bank and Trust Company, Philippine National Bank and United Coconut Planters Bank, with its fundamental belief in universal sharing, it became the first operational shared ATM network in the Philippines. MegaLink was launched on March 19, 1990 with shared resources of 88 ATMs, a base of 130,000 cardholders, and an average of 200 transactions a day. MegaLink is the first Philippine consortium to link with both BancNet and Expressnet. MegaLink Milestones:
1990 MegaLink became the first shared operational ATM network in the Philippines.
1992 The founding banks of ATM Bersama, an Indonesian interbank network, turn to MegaLink's expertise as their model for a shared services network which eventually led to a partnership.
1994 MegaLink introduced Telephone banking as the world's first consortium-based phone banking facility.
1995 With its belief of universal sharing, MegaLink forged an alliance with BancNet for ATM transactions, and links up with VISAPLUS and MasterCardCirrus through Equitable Bank for International transactions.
1996 MegaLink hosted the 1st Philippine Electronic Banking Conference and Exhibition attended by over 300 participants from the industry.
1997 MegaLink interconnected with Expressnet for ATM transactions.
1998 MegaLink activated the Automated Reconciliation and Settlement System as well as MIS with Transaction Query system to its members.
2002 MegaLink launched the Exposure Limit Management System to manage inter-bank settlement risks.
2003 MegaLink launched Electronic Settlement with Bangko Sentral ng Pilipinas and becomes the first non-bank to participate in BSP's PhilPass. MegaLink also established its Disaster Recovery Site.
2005 MegaLink is the first to implement full ATM Switch Outsourcing in the country with iBank as its pilot bank. Debit Bills Payment via SMARTmobile phones becomes available.
2006 ATM Industry Association signs up MegaLink as founding member in the Philippines counting the Philippines as its 50th member country.
2007 MegaLink opens its membership to non-banks and accepts ENCASH Network Services ENS and MASS-SPECC Cooperative Development Center, which counts ATM networks in Singapore, Malaysia, Thailand and Indonesia as members. This membership paves the way for interconnection of ATM networks between member countries.
2009 MegaLink hosted the 5th Asian Payment Network Forum attended by APN members from Indonesia, Malaysia, Thailand and Singapore. ATM networks from Korea and the Philippines, non-members of APN, were invited to attend as observers. MegaLink also launched Batch-to-online IBFT service.
2010 MegaLink launched Load Fulfillment, Internet banking and Cross Border acquiring service. MegaLink interconnected with BancNet and Expressnet for POS transactions.
2011 MegaLink interconnected with Korea Financial Telecommunications and Clearings Institute in South Korea for Cross Border ATM and POS transactions.
2012 MegaLink launched its own Internet Payment Gateway service and implemented a Telco agnostic Mobile banking service. MegaLink was elected as the APN chairman.
2013 MegaLink interconnected with National ITMX in Thailand for Cross Border ATM and POS transactions and MegaLink re-launched the VISA International Acquiring service. MegaLink was re-elected as APN chairman.
2015 MegaLink, through its member bank BDO Unibank and alliance partner BPI, was the first to introduce touchscreen ATM terminals via machines from Diebold.
Final members
Note that all these banks have been moved to BancNet after the completion of the merger.
