GoTyme expanding kiosks beyond Robinsons stores
Gokongwei-backed GoTyme Bank is looking to expand the number of its kiosks around the country by around a fifth as part of its bid to grow its customers to over 5 million by year-end.GoTyme Bank co-CEO Albert Tinio said they plan to add another hundred to the existing 472 kiosks, which the company said are strategically placed around the Philippines.
“We already ordered a hundred. Fifty are already in the country. Another 50 are coming next month,” Tinio told reporters in a recent interview in Quezon City.
Meanwhile, GoTyme Bank CEO Nate Clarke said they are getting good traction from their kiosks located inside office buildings.
“In particular, we are seeing a lot of excitement and traction with customers in large office buildings that house (business process outsourcing) workers,” Clarke said during the same interview.
Clarke added that they would also begin expanding beyond the stores of Robinsons Retail Holdings Inc., which is under the Gokongwei Group.GoTyme Bank is a partnership between the Gokongwei group and the South Africa and Singapore-based Tyme.
GoTyme kiosks allow people of age 18 years and older to open an account and be issued a Visa debit card within five minutes by submitting a single, valid identification card, a Philippine address and a mobile number.As of July 2024, the two executives said they have over 3.7 million users in the Philippines, which is expected to grow to more than 5 million by the end of this year.
The company said that the number of accounts are growing by around 250,000 monthly, touting that they offer a level of accessibility not available in traditional banking institutions. —INQ
