The huge vending machine dispenses cans of Coke, Sprite, Royal, and Lift when customers use the bank's ATM card which is equipped with a special Mondex microchip.
"Consumers always associate ATM cards with expensive items," says BPI VP Georgina Espaldon. "We want our bank card to be used for any kind of purchase."
The bank also forged a tie-up with Coca-Cola Bottlers Philippines Inc to operate the most modern soft drinks vending machine. "We tapped Keycorp, an Australian firm, in developing the prototype of the vendo machine," she said.
In the future, BPI plans to forge tie-ups with fastfood restaurants, pay parking, and cinemas to maximize the use of the ATM chip card.
Copyright August 1998, Crain Communications Inc.