Japan’s Seven Bank enters Malaysia, sharpens 7-Eleven’s edge amid stiff competition
The banking arm of the 7-Eleven Group hints at plans to put more of its ATMs into the group’s convenience stores and high-traffic areas
[KUALA LUMPUR] Seven Bank, the banking arm of the 7-Eleven Group and Japan’s largest digital bank, has officially entered the Malaysian market in a move aimed at expanding its presence in South-east Asia by tapping into 7-Eleven Malaysia’s network of 2,600 convenience stores.
The move, Seven Bank’s fourth overseas venture after the United States, Indonesia and the Philippines, is aimed at complementing the retail chain’s operation amid fierce competition in the convenience store arena.
Under its initial rollout, Seven Bank will install 100 automated teller machines (ATMs) in key Malaysian cities, including those in the Klang Valley, Penang, Johor and East Malaysia. For a start, the ATMs will offer basic banking services such as cash deposits and withdrawals.
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