7-Eleven signs NCR and Co-op Network ATM deals
18 November 2005 | 2080 views | 0
7-Eleven, Inc. has signed a five-year agreement with NCR Corporation (NYSE:NCR) to more than double its advanced-function financial services kiosk program and replace other in-store automated teller machines (ATMs) at various 7-Eleven locations throughout the United States.
The value of this agreement has not been disclosed; however, it also includes hardware and software maintenance services and incident management. Rollout will begin this month.
Additionally, NCR will service the majority of 7-Eleven stores existing base of non-NCR ATMs. A dedicated Service Management Office will monitor service delivery performance on an ongoing basis. The 7-Eleven units use NCR's industry-leading Personas M Series ATMs and APTRA software platform for enhanced Windows-based functionality.
7-Eleven's existing network of 1,050 advanced-function financial kiosks is one of the most expansive uses of check-imaging technology in the ATM marketplace today. NCR manufactured the prototype, which was first introduced in Austin in 1998. Based on NCR's Personas M Series, the kiosks offer more functionality than an ATM unit. Its product line includes check cashing, Western Union® money orders and transfers, bill payment and Verizon long distance services. The goal in offering these services is to provide banked, unbanked and under-banked customers with easy-to-use, self-service options in convenient 7-Eleven locations.
Rick Updyke, vice president of business development for 7-Eleven, said, "Our network offers financial access and convenience to the mass consumer market, not just to the population who have bank accounts and ATM cards. We've proven the acceptance of these services in more than 1,000 7-Eleven stores across the United States. In addition, we are currently using Check 21 capabilities to electronically deposit checks several times a day and are positioned to accept consumer bank deposits. NCR and 7-Eleven have come a long way together, and we look forward to expanding our program with NCR."
Andy Orent, vice president for NCR's Financial Solutions Division, Americas region, said, "Our long partnership with 7-Eleven has produced some of the most innovative and compelling new uses for self-service in the industry, if not the broader financial services marketplace. We are thrilled with 7-Eleven's decision to expand its financial services network and that NCR's technology, Managed Services and expertise is helping to make it happen."
Separately, CO-OP Network, the nation's largest credit union network of surcharge-free ATMs, and 7-Eleven, Inc. have reached an agreement to provide ATM access for Network members in 7-Eleven stores across the United States. Approximately 5,300 7-Eleven stores in 30 states will offer surcharge-free ATM access to 24 million credit union cardholders carrying the Network logo beginning Dec. 1.
"Driving new customers to our stores will be one of the primary benefits of this relationship," said Rick Updyke, 7-Eleven's vice president of business development. "7-Eleven's convenient locations will provide millions of CO-OP Network credit union members with greater access to surcharge-free ATM services."
CO-OP Network consists of 1,848 member credit unions with a combined total of 24 million cardholders. These credit union members currently have surcharge-free access to 25,000 Network ATM terminals across 50 states and throughout Canada at credit union branches, airports, supermarkets and convenience stores.
"CO-OP Network's goal is to recommend using ATMs in well-lit, high-traffic areas, which makes 7-Eleven a great partner for us," says Stan Hollen, CO-OP Network CEO. "7-Eleven, with its well-recognized brand and broad store coverage in the United States, will provide an ideal complement to our existing ATM locations.
"Since 2000, CO-OP Network ATM access has grown by more than 500 percent," added Hollen. "With more ATMs where our members live, work and shop, credit unions are providing a convenient way to compete nationally with larger financial institutions."