7-Eleven recently debuted the world's first fully automated Financial Services Center (FSC). This new self service sells money orders, sends money transfers, issues phone cards, and cashes checks, as well as provides ATM services 24-hours a day, seven days a week. To encourage initial customer use, 7-Eleven waived the check cashing sign-up fee during the first month of operation and allowed customers to cash their first six payroll checks free.
Additional products and services can be added to the 7-Eleven FSC platform, including bill payment, branch banking, vehicle registration, and the issuance of airline tickets, smart cards, loans, and insurance.
The FSC is the first to:
In the future, FSCs will be able to process bill payments, stamp sales, and Quick Collect®, a Western Union product that is a "quick pay" to certain already designated lending institutions.
Clark Matthews, president and CEO of The Southland Corporation, which operates 7-Eleven said, "While these new services will appeal particularly to ëunbanked' customers, we believe a broad range of individuals will benefit from the convenience of 24-hours-a-day, 365-days-a-year service, and the many 7-Eleven store locations."
Matthews continued, "The system was designed by ACS and NCR to be flexible enough to support possible expansion into other services, including branch banking, vehicle registration, credit reports, and the issuance of airline tickets, smart cards, loans, and insurance."
Doug McNary, president of Western Union North America said, "Like 7-Eleven, our focus is on unbanked consumers who are looking for a fast and convenient way to take care of their financial needs. Now, these consumers will be able to use their neighborhood 7-Eleven store to send money to family and friends in more than 140 countries around the world or buy a money order to pay a bill ó all with the touch of a few buttons."
Check-cashing customers will enroll in the new service in the same way they currently do at human-operated centers, except the process will be handled electronically. Customers will furnish suitable identification, have their picture taken for future verification, be issued a membership number and obtain approval of checks. After that, customers use their membership number to cash checks from check issuers who have been approved at any 7-Eleven with a FSC.
For more information visit 7- Eleven on the web at
http://www.7-eleven.com or call (214) 828-7345.
