7-Eleven, Inc. has added automated check-cashing capability to its Vcom financial kiosks in 36 stores in Fort Myers/Naples, Fla., following an initial launch in 58 Texas stores. This 94-store pilot test of the service includes an aggressive marketing effort and in-store greeters to promote customer awareness and trial of the service.
Vcom is 7-Eleven stores’ web-enabled, integrated financial services kiosk that merges ATM capabilities with the flexibility of Internet-based applications and 24-hour, touch-screen convenience. The current capabilities of the kiosks include ATM transactions, Western Union money orders and money transfers and check cashing through Certegy Check Services(SM), a division of Certegy Inc.. Future services may include telecommunications products and services, bill payment, event ticketing, travel directions and road maps.
During the pilot, 7-Eleven is offering free check-cashing membership enrollment and promoting the new service through advertising, in-store signs and special events … all aimed at consumers who use a check-cashing service. Also during the test period, a new customer’s first two payroll checks will be cashed free. According to recent industry publications, 30 million people cash 180 million checks valued in excess of $55 billion at check-cashing establishments.
“Self-service check cashing on Vcom is another innovation in 7-Eleven’s 75-year history of defining convenience,” said John Harris, vice president of 7-Eleven stores’ Florida division. “At the same convenient location where they stop for gasoline, milk or other convenience items, our customers can have immediate access to their cash, 24 hours a day, seven days a week, in a safe, secure neighborhood environment.
“We know thousands of our customers cash checks somewhere else but shop at 7-Eleven for basic purchases,” Harris said. “By offering check cashing on Vcom, we’re saving them time and an additional stop. This is a good customer value, and it just makes sense. We invite consumers to come in and see how fast and easy check cashing can be.”
To use the Vcom check-cashing service, a customer applies for membership and is immediately issued a Vcom card. Thereafter, the member can access the fully automated check-cashing service simply by inserting the card and check into the Vcom kiosk, then entering their PIN and pertinent information about the check via the touch screen. In moments the check is verified, authorized and, if approved, the customer receives the cash, minus a transaction fee. The membership requirements and transactions fees are comparable to other check-cashing establishments, but the typical Vcom self-service transaction takes less than two minutes.
About 7-Eleven, Inc.:
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Headquartered in Dallas, Texas, 7-Eleven, Inc. operates or franchises approximately 5,800 7-Eleven stores in the United States and Canada and licenses approximately 16,000 7-Eleven stores in 17 other countries and territories throughout the world. During 2000, 7-Eleven(R) stores worldwide generated total sales of more than $29 billion. Find out more about 7-Eleven, Inc. on the World Wide Web at [http://www.7-Eleven.com].