STRATEGIC PARTNERS
January 28, 2002
DALLAS--(BUSINESS WIRE)--March 8, 2001--7-Eleven, Inc. (NYSE:SE) made it official that American Express (NYSE:AXP) will be the primary provider of ATM services for its V.com kiosks, with the announcement of a strategic alliance between the two companies.
V.com is 7-Eleven, Inc.'s Web-enabled, integrated financial services kiosk that will provide financial services such as money orders, money transfers and check cashing in addition to standard ATM functionality.
The V.com pilot is currently in beta test at five 7-Eleven locations in Dallas. 7-Eleven will next conduct a "transactional" test in an additional 89 stores in Texas and Florida with the anticipation of adding V.com to 7-Eleven stores nationally starting as early as the end of this year.
American Express, which currently provides ATM services for about 90 percent of 7-Eleven's 5,300 stores in the U.S., will provide ATM services on V.com in all areas where American Express holds 7-Eleven ATM contracts.
"American Express, with its globally recognized brand, is an ideal partner for V.com," said 7-Eleven president and CEO Jim Keyes. "By extending our relationship with American Express to V.com, we are ensuring customers will have convenient and trustworthy access to the very important ATM financial service, and we can build upon our existing 100 million annual ATM transactions."
