News

CashWorks is 7-Eleven's newest Vcom partner

April 1, 2004

DALLAS - 7-Eleven, Inc. (NYSE: SE - News) has selected CashWorks to provide check-cashing services at select 7-Eleven stores equipped with the convenience-store chain's self-service Vcom kiosks.

Terms of the agreement were not disclosed.

Consumers can cash government and payroll checks at approximately 1,000 7-Eleven stores in 13 states where Vcom is installed.

The chain's previous partner on Vcom check cashing services was Certegy Check Services, a division of Certegy, Inc.

"We chose CashWorks because they specialize in cashing payroll and government checks, expertly applying their risk-decisioning methodology in the convenience store channel," said Brady Giddens, 7-Eleven's managing director of Vcom, in a news release. "This is an ideal fit for Vcom and should serve our convenience customers well."

After a customer enrolls for Vcom membership, the member can access the fully automated check-cashing service simply by inserting their Vcom membership card and their check into the Vcom kiosk slots, then entering a PIN and pertinent information about the check via the touch screen.

The check is verified, authorized and, if approved, the customer receives the cash, minus a transaction fee. The typical Vcom self-service transaction takes less than two minutes, according to the release.