7-Eleven and American Express to Introduce Innovative Self-Service Kiosks In Dallas/Ft-Worth Area.
During the initial roll-out, the units will be installed in over 200 7-Eleven stores throughout the Dallas/Fort Worth area over the course of this year. The expansion into future markets will be determined based on the results of the Dallas test. Terms of the transaction were not disclosed.
The touch-screen kiosks will provide customers with check-cashing services, money orders, and wire transfers. In the future, the two companies expect to introduce a wide range of services, including event ticketing, and e-commerce applications such as on-line shopping.
"Our partnership with American Express brings together two global brands to offer convenient, high-value products to 7-Eleven customers," said Jim Keyes, executive vice president and chief operating officer. "The development of these self-service units is the first step toward our longer-term Internet strategy, which we have named V.com(TM) for virtual commerce. As our V.com(TM) strategy evolves, we want to serve as a point of access for both the purchase and the distribution of a wide range of e-commerce product offerings. These kiosks combined with our nationwide, daily distribution infrastructure and over 5,000 U.S. store locations, positions us to do just that."
"Millions of Americans visit 7-Eleven stores on a daily basis. Now, they will have the added convenience of being able to cash their paychecks and purchase coffee at the same time," said Eugene DeSilva, vice president, New Business Ventures, American Express, noting that the company's partnership with 7-Eleven is a natural extension of American Express' ATM strategy.
Independently, 7-Eleven began testing automated delivery of financial services in early 1998 in its 37 Austin, Texas, stores. The test phase proved that customers were highly receptive to using automated, self-service devices for financial transactions, and that they enjoyed the convenience of accessing these services 24 hours-a-day, seven days-a-week. Some 50,000 customers have enrolled in the check-cashing program since the test began.
American Express currently has a network of over 4,000 ATMs in convenience stores, supermarkets, malls, and hotels throughout the United States. American Express Cardmembers as well as holders of other types of bankcards can access cash from these locations. The American Express Card is warmly welcomed at all company-owned 7-Eleven locations.
With over 19,400 convenience stores worldwide, 7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. More than 5,700 7-Eleven and other convenience stores are operated or franchised in the United States and Canada by 7-Eleven, Inc. IYG Holding Company, a wholly owned subsidiary of Ito-Yokado Co., Ltd., and Seven-Eleven Japan Co., Ltd., has owned a majority interest in 7-Eleven, Inc. since 1991. Seven-Eleven Japan operates just over 8,000 7-Eleven stores under an area license agreement. Find out more about 7-Eleven, Inc. on the World Wide Web at www.7-eleven.com.
About American Express
American Express is a diversified worldwide travel, network, and financial services provider founded in 1850. It is a leader in charge and credit cards, Travelers Cheques, travel, financial planning, investment products, insurance and international banking. For more information, visit www.americanexpress.com.
Contact: Joanne Fisher of American Express, 212-640-6466; or Mary Bell, Investor Relations, 214-828-7021, or Margaret Chabris, Public Relations, 214- 828-7285, both of 7-Eleven, Inc.
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|Date:||Jan 27, 2000|
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