MegaLink
Philippine banking-technology company and ATM network operator that was later repurposed following its merger with BancNet.
Last updated August 24, 2026
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Overview
MegaLink was a Philippine banking-technology company and electronic payments network established in September 1989 by four banks: Equitable Banking Corporation, Far East Bank and Trust Company, Philippine National Bank, and United Coconut Planters Bank. It was created to provide shared banking infrastructure, particularly automated teller machine (ATM) connectivity, electronic transaction processing, and related software and services for financial institutions. The company launched its network on March 19, 1990, becoming one of the organizations involved in the development of shared ATM services in the Philippines. Its activities extended beyond operating an ATM network. MegaLink was also described as a developer of mobile and banking software and as a provider of systems supporting ATM networks and point-of-sale transactions for banks. These capabilities placed it within the broader Philippine financial-technology and interbank-payments ecosystem rather than solely in the consumer banking sector. MegaLink developed relationships with other payment networks and financial institutions over time. In 1995, it formed an alliance with BancNet, another major Philippine electronic banking network. MegaLink was also linked with Expressnet, and in 2003 it launched an electronic settlement arrangement with the Bangko Sentral ng Pilipinas, the Philippines' central bank. In 2006, the ATM Industry Association recognized MegaLink as a founding member in the Philippines. Its international connectivity expanded in 2011 when it became interconnected with the Korea Financial Telecommunications and Clearings Institute, enabling a relationship with South Korea's financial transaction infrastructure. The company's independent network identity changed substantially in 2015. In late January of that year, MegaLink and BancNet announced a merger under which BancNet became the surviving entity. MegaLink was subsequently repurposed rather than continuing as a standalone competing ATM network. It remained listed as a BancNet member under the independent ATM deployer category, while its assets were sold to Hitachi, the Japanese technology conglomerate. The available reference material identifies MegaLink as a Hitachi subsidiary after this transaction, but does not provide sufficient information to establish its current corporate structure, operating status, headquarters, or continuing public-facing activities. MegaLink's historical importance lies in its role in the consolidation and interconnection of Philippine electronic banking infrastructure. Its story reflects the transition from bank-owned, separately operated ATM systems toward shared national networks, central-bank-linked settlement, cross-network interoperability, and eventually consolidation around BancNet.
History
MegaLink was formed in September 1989 by Equitable Banking Corporation, Far East Bank and Trust Company, Philippine National Bank, and United Coconut Planters Bank. The founding banks created the company to develop shared electronic banking infrastructure and to support ATM services across participating institutions. At the time, shared networks offered banks a way to expand customer access to cash and account services without requiring every institution to operate a completely separate national infrastructure. MegaLink launched its network on March 19, 1990. Its principal role was to provide connectivity and transaction-processing capabilities for banks, particularly through ATM networks. The company also developed mobile and banking software and supplied systems for ATM and point-of-sale transactions. Its business therefore combined network operation with financial-technology services for institutional customers. In 1995, MegaLink forged an alliance with BancNet. The relationship connected two important participants in the Philippine electronic banking sector and anticipated later consolidation in the market. MegaLink was also linked with Expressnet, another Philippine banking network. These alliances helped develop interoperability among bank networks and broadened the practical reach of electronic banking services. MegaLink continued to expand its institutional connections during the 2000s. In 2003, it launched an electronic settlement arrangement with the Bangko Sentral ng Pilipinas. In 2006, the ATM Industry Association signed MegaLink as a founding member in the Philippines, reflecting the company's participation in the international ATM industry. In 2011, MegaLink became interconnected with the Korea Financial Telecommunications and Clearings Institute, creating a link with South Korea's financial transaction network. The company's independent existence changed in 2015. In late January, MegaLink and BancNet announced a merger. BancNet became the sole surviving entity, while MegaLink was repurposed. After the transaction, MegaLink was listed as a BancNet member under the independent ATM deployer category. Its assets were sold to Hitachi, and MegaLink was identified as a Hitachi subsidiary. The available source material does not establish whether the MegaLink name continues as an operating commercial brand, a corporate subsidiary, or an infrastructure designation, so its present status is recorded as unknown.
- 2015
Merger with BancNet and repurposing
[1]MegaLink and BancNet announce a merger. BancNet becomes the surviving entity, MegaLink is repurposed, and its assets are sold to Hitachi.
- 2011
Interconnection with South Korea's KFTC
[1]MegaLink becomes interconnected with the Korea Financial Telecommunications and Clearings Institute.
- 2006
ATM Industry Association membership
[1]MegaLink becomes a founding member of the ATM Industry Association in the Philippines.
- 2003
Electronic settlement launch
[1]MegaLink launches an electronic settlement arrangement with the Bangko Sentral ng Pilipinas.
- 1995
Alliance with BancNet
[1]MegaLink forms an alliance with BancNet.
- 1990
MegaLink network launches
[1]MegaLink launches its Philippine electronic banking and ATM network on March 19.
- 1989
MegaLink is established
[1]MegaLink is formed in September by Equitable Banking Corporation, Far East Bank and Trust Company, Philippine National Bank, and United Coconut Planters Bank.
Products and positioning
A Philippine business-to-business financial-technology and payments infrastructure provider focused on ATM connectivity, bank software, electronic settlement, and point-of-sale transaction systems.
ATM network · 1990
MegaLink ATM network
MegaLink's core historical offering was a shared ATM network serving participating Philippine banks. The network enabled customers of connected institutions to access ATM services across a broader footprint than an individual bank could provide alone. It was later integrated into the broader BancNet-centered network structure.
Financial software
Banking and mobile software
MegaLink was described as a developer of mobile and banking software for financial institutions. The available material does not identify specific software product names, versions, or current availability.
Banking transaction systems
ATM and point-of-sale systems
The company provided systems and services supporting bank ATM networks and point-of-sale transactions. These institutional tools formed part of MegaLink's broader role as a banking-technology and transaction-processing provider.
Settlement service · 2003
Electronic settlement
In 2003, MegaLink launched an electronic settlement arrangement with the Bangko Sentral ng Pilipinas. The reference material does not provide the service's technical specifications or current status.
Brand decisions
2015
Merge with BancNet and repurpose MegaLinkM&ABackground
MegaLink operated in a Philippine electronic banking market where multiple networks had developed alliances and interoperability links.
Action taken
MegaLink and BancNet announced a merger, with BancNet as the sole surviving entity. MegaLink was repurposed, and its assets were sold to Hitachi.
Aftermath
MegaLink was listed as a BancNet member under the independent ATM deployer category and was identified as a Hitachi subsidiary. The source does not provide transaction financials or further details about the continuing operating structure.
Recent events
- 2015
MegaLink and BancNet announce merger[1]
M&A
MegaLink and BancNet announced a merger in which BancNet became the sole surviving entity. MegaLink was subsequently repurposed, while its assets were sold to Hitachi.
- 2011
MegaLink becomes interconnected with South Korea's KFTC[1]
Other
MegaLink established an interconnection with the Korea Financial Telecommunications and Clearings Institute, extending the network's links to South Korean financial infrastructure.
- 2006
ATM Industry Association recognizes MegaLink as a founding Philippine member[1]
Other
The ATM Industry Association signed MegaLink as a founding member in the Philippines.
- 2003
MegaLink launches electronic settlement arrangement with the Bangko Sentral ng Pilipinas[1]
Product launch · Other
MegaLink launched an electronic settlement service involving the Philippines' central bank, supporting the development of institutional electronic banking infrastructure.
- 1995
MegaLink forms alliance with BancNet[1]
Other
MegaLink entered an alliance with BancNet, deepening cooperation between two Philippine electronic banking networks before their eventual merger.
Sources1 sources
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