SMRT makes inroads into Philippines via managed ATM infrastructure deal

PETALING JAYA: Pure play enterprise internet of things (IoT) solutions provider SMRT Holdings Bhd’s wholly owned indirect subsidiary N’osairis Technology Solutions Inc (NTSI) has been granted a project by Pito AxM Platform Inc (PAPI) through a letter of offer for the deployment of managed ATM infrastructure solution at designated sites across Luzon, the Philippines.

PAPI is a fully owned subsidiary of Seven Bank Ltd, a Japanese bank and leading global ATM network and financial service provider with some 27,000 and 17,000 ATMs installed in Japan and outside Japan respectively. PAPI, which was incorporated in the Philippines in 2019, focuses on offering ATM services such as balance inquiry and cash withdrawals and deposits for its customers in the Philippine market.

SMRT will deploy its IoT solutions at ATM sites designated by PAPI, by the end of 2024. Following the deployment, SMRT will manage the sites’ network infrastructure for three years, commencing from the installation date of each site.

Group managing director Maha Palan said, “Building on our success in the Indonesian market, we are excited to have successfully penetrated the Philippine market with this project. This is indeed a major milestone for the group. With the additional sites that we will manage, we will further grow our recurring income base. Currently, more than 50% of our revenue stems from recurring sources.”

As it expands its footprint into the Philippines, it is well-positioned to replicate its proven business model in other potential markets across Asean, he said.

On balance, he added, SMRT remains confident in its current growth strategy, and are committed to its goal of being the leading provider of comprehensive end-to end IoT services in the region -