SMRT Breaks Into Philippines Market In New 3-Year Deal 

SMRT Holdings Berhad, a specialist in enterprise Internet of Things (IoT) solutions, announced that its subsidiary, N’osairis Technology Solutions Inc. (NTSI), secured a project from Pito AxM Platform, Inc (PAPI) through a Letter of Offer (LOO). The project entails deploying managed ATM infrastructure solutions across designated ATM sites in Luzon, Philippines.

PAPI, a subsidiary of Seven Bank Ltd., a prominent Japanese bank with a global ATM network, operates in the Philippines market, focusing on ATM services such as balance inquiry and cash transactions. SMRT will implement its IoT solutions at designated ATM sites specified by PAPI by the end of 2024.

Following deployment, SMRT will manage the network infrastructure of these sites for three years from the installation date of each site.

SMRT Group Managing Director, Maha Palan, expressed enthusiasm about entering the Philippines market, considering it a significant achievement for the Group.

He highlighted the growth potential in recurring income from managing additional sites. Currently, over 50% of the Group’s revenue comes from recurring sources.

Palan emphasised the opportunity to replicate their business model in other potential markets across ASEAN as they expand into the Philippines.

He reiterated the company’s commitment to becoming a leading provider of end-to-end IoT services in the region, expressing confidence in their growth strategy.

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