7-Eleven Expands Financial Services

Expanding on a pilot program it launched at convenience stores in Texas, 7-Eleven Inc. said it plans to introduce financial service through Vcom Web-enabled kiosks to 36 convenience stores in Florida.

Vcom is 7-Eleven's self-serve, fully automated and Web-enabled kiosk that merges the capabilities of an ATM with the benefits of the Internet. During the initial stage of introduction, Vcom will provide financial services beyond those of a conventional ATM including money orders, money transfers and check cashing.

In the future, 7-Eleven anticipates that customers will be able to have touchscreen access to services such as bill payment, deposit capability, event ticketing, travel directions and road maps. Also, Vcom may offer customers online shopping and fulfillment options that use the daily distribution centers serving 7-Eleven stores in Florida.

"We selected Ft. Myers and Naples as a test market because there already is a strong demand for 7-Eleven stores' current financial products, like money orders, which is a good predictor of consumer acceptance of Vcom's financial services," said John Harris, vice president of 7-Eleven's 530-store Florida Division, headquartered in Orlando. "We believe customers will like this innovative way of purchasing money orders, transferring money, cashing checks and having faster ATM transactions. Vcom adds a new dimension of convenience for our customers, and we look forward to the results of this test."

The Dallas-based chain, which operates more than 5,700 convenience nationwide, first installed the kiosks at 58 units in Texas in March. 7-Eleven earlier signed deals for other financial services with American Express, Western Union Financial Services and Equifax.
This ad will auto-close in 10 seconds