DALLAS and MARLBOROUGH, Mass. May 01, 2003- 7-Eleven has chosen technology company Cyphermint Inc. to be the e-commerce, advertising and Internet cash-payment system provider for the convenience retailer’s Vcom kiosks.
Vcom is 7-Eleven stores’ self-service kiosk that offers ATM capabilities and 24-hour, touch-screen convenience to provide customers with financial and other services. Currently, customers can make ATM transactions, purchase Western Union money orders and money transfers and cash checks. Vcom is currently being tested in 98 Florida and Texas stores.
7-Eleven customers will be able to pay cash for e-purchases using Cyphermint’s Pay Cash System, a secure payment technology. Cyphermint will be the conduit for Vcom customers to access select e-commerce services such as event ticketing, weather, lottery results, travel directions and online shopping. These, along with Verizon Communications Inc. products and services, are expected to be part of a larger rollout of Vcom at 7-Eleven stores later this year.
“Our alliance with Cyphermint enhances the value of Vcom by providing a convenient way for more people to use or purchase e-commerce products and services,” said Jim Keyes, president and CEO of Dallas-based 7-Eleven. “7-Eleven will open e-commerce shopping to a broader base of customers who do not have traditional Internet access or don’t have or want to use credit cards, which are normally required for online purchases.”
The alliance calls for Marlborough, Mass.-based Cyphermint to orchestrate the timing, frequency and placement of third-party ads along with selecting and recruiting online-commerce merchants for Vcom. Cyphermint expects to announce this summer a comprehensive array of advertising alternatives for vendors wanting to reach the point-of-purchase audience. Shopping destinations through Cyphermint could include online florists, book and music providers.
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