7-Eleven's Vcom Rolls into Orlando

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7-Eleven's Vcom Rolls into Orlando

ORLANDO, Fla. -- 7-Eleven Inc., operator of more than 5,800 convenience stores in North America, launched the national rollout of its proprietary Vcom kiosks with the installation 49 units in Orlando, Fla.

Vcom is 7-Eleven's self-service machine that offers ATM capabilities and touch-screen convenience to provide customers with financial and other services 24 hours a day. Currently, customers can conduct American Express ATM transactions, purchase Western Union money orders and money transfers, pay bills through Western Union's Quick Collect payment service and cash checks through Certegy Check Services. Customers can pay by cash at Vcom by inserting as many as 30 bills at a time into a bunch-note acceptor on the machine.

The Dallas-based company plans to install approximately 400 kiosks in various markets in the United States before the end of 2002 as part of its initial 1,000-store rollout taking place through the second quarter of 2003.

"We selected Orlando for the national launch 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 Jay Giesen, 7-Eleven vice president and general manager of Vcom. "Our research tells us that customers want to do multiple financial and personal tasks at one time, have 24-hour access to cash and a choice of convenient locations."

Giesen added, "Vcom adds a new dimension of convenience for our customers, and we believe they will like this innovative way of cashing checks, purchasing money orders, transferring money and paying bills. Our customers in Orlando already are responding positively, and the Vcom transaction count is reflecting that."

7-Eleven anticipates that Vcom will offer additional services, such as touch-screen access to online shopping and telecommunications by early 2003. The e-commerce offerings will be provided by Cyphermint Inc. through its Pay Cash System, which allows customers to pay at the kiosk with cash, as well as with a check, money order, or credit card. Telecommunications services will be available through Verizon Inc.

7-Eleven also anticipates Vcom will offer loan and credit services, car insurance, deposit capability, event ticketing, travel directions and road maps.