Dallas-based convenience chain giant 7-Eleven has signed a strategic alliance with privately financed technology company Cyphermint, which will see the latter provide the e-commerce, advertising and Internet cash-payment systems for 7-Eleven Vcom kiosks.
The 24-hour, interactive Vcom kiosks will allow consumers to shop online from within 7-Eleven stores. Customers will be able to pay cash for e-purchases such as event ticketing and online shopping, using Cyphermint’s Pay Cash System. The kiosks will be tested in about 1,000 stores, which will form part of a larger rollout 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 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.”
Patrick Lally, president and CEO of Marlborough-based Cyphermint, said, “7-Eleven is enhancing Vcom to provide customers with around-the-clock access to products and services not traditionally accessible in convenience-store locations.”
It is estimated that nearly 100 million consumers in the US don’t have access to credit cards, and 37 million lack basic bank accounts.