7-Eleven to Offer Banking Services

7-Eleven Inc. yesterday teamed up with Atlanta-based Equifax Inc. to provide automated check-cashing services at convenience stores in Texas and Florida starting this summer.

The service initially will be available at 94 stores through virtual commerce kiosks (Vcom). Customers will be able to use the kiosks for payroll, personal and other check-cashing services, said 7-Eleven spokeswoman Margaret Chabris. Nationwide rollout at all 5,300 7-Eleven stores in the United States could begin late this year or early 2002.

Equifax, which is best known as the nation's largest credit reporting agency, also authorizes checks and provides credit card processing services. By providing check cashing at 7-Eleven stores, Equifax will be one of the largest check cashers in the United States, company officials said.

Equifax President and CEO Lee Kennedy said the companies have agreed to an eight-year deal. 7-Eleven earlier signed agreements with other companies that also will supply services on the kiosks, the company said. American Express will be primary provider of ATM services, while Western Union will offer self-serve money transfers and money orders.
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