Send an Email to:

• carol.hassell@equifax.com
• mchabri@7-11.com

Equifax, 7-Eleven Team Up

E quifax, Inc. has formed a major alliance with 7-Eleven Inc. to provide fully automated check-cashing services through its Vcom, or virtual commerce, kiosks. This agreement aligns Equifax with 7-Eleven's other Vcom partners, including American Express and Western Union, in the creation of a new era of interactive kiosks that will offer significantly enhanced services in its more than 21,000 convenience stores worldwide.

Equifax Payment Services adapted its proven Paycheck Accept product, widely used in the grocery and gaming industries, to provide this fully automated program. Consumers simply enter their information into the kiosks, allowing Equifax to verify the identity of the individual in real time. Once the consumer has been authenticated, a membership card and PIN (personal identification number) are issued for use in all check-cashing transactions.

To begin a transaction, the consumer inserts a membership card, checks into the machine, and then enters a PIN and pertinent information about the check via a touch-screen application. Equifax then validates the information, performs an on-line check authorization, and issues an approval or decline back to the consumer - all within a matter of seconds.

Equifax also provides 24/7 customer assistance for consumers with lost or stolen cards or security PIN resets. In addition to check cashing, the automated Vcom units fully support ATM services, including money orders and money transfers.

"We chose Equifax as our Vcom check-cashing partner because the company is the premier provider of check-cashing services, and its focus on innovation, growth and technology is perfectly aligned with our Vcom strategy," says James W. Keyes, 7-Eleven president and CEO.

According to recent industry publications, 30 million consumers cash 180 million checks valued in excess of $55 billion at check-cashing establishments annually. By providing check cashing in the thousands of 7- Eleven outlets, Equifax Payment Services will be one of the largest check cashers in the U.S.

For more information , contact Carol Hassell of Equifax, (408) 855-8217 or carol.hassell@equifax.com, or Margaret Chabris of 7-Eleven, (214) 828-7285 or mchabri@7-11.com.