Expressnet - History

History

Expressnet was founded on February 14, 1986, when the ATMs of Bank of the Philippine Islands (BPI) and its subsidiary, BPI Family Savings Bank, the founders of Expressnet, were connected for the first time. The first Expressnet transaction was also conducted on this year.

Soon thereafter, in December 1991, Landbank joined the consortium, followed by HSBC in February 1992. Banco de Oro joined in April 1995, BPI Direct Savings Bank, another BPI subsidiary, joined in 2000, and HSBC Savings Bank, a subsidiary of HSBC, became the latest Expressnet member on April 1, 2001.

Expressnet and another Philippine interbank network, MegaLink, formed an alliance on May 6, 1997, with the main ceremony held at Ayala Center. This meant that 2.3 million Expressnet cardholders could use their cards with MegaLink ATMs, and 2.7 million MegaLink cardholders could use their cards with Expressnet ATMs.

On July 13, 2005, Expressnet and BancNet signed a memorandum by executives of both networks. At present, all Expressnet ATMs advertise full connectivity with BancNet ATM cards & that BancNet currently maintains Expressnet's facilities.

Expressnet is also known for its Express Payment System (EPS), which was at first the debit card system of the BPI Express Teller ATM card. In 2005, the network expanded to include cardholders of all Landbank E.A.S.Y. (Express Access for Savers like You) and Banco de Oro (both local and international) ATM cards.