In its second-largest acquisition, Amazon buys the company for $970 million.
7-Eleven will accept cash payments at its web-enabled kiosks later this year when it expands the kiosks` offerings to e-commerce.
C-store chain 7-Eleven Inc. will accept cash payments at its Vcom web-enabled, in-store kiosks later this year, the company reports. Cash processing will be handled by Cyphermint Inc. Cyphermint will also provide other e-commerce-related services to 7-Eleven.
At 7-Eleven’s Vcom kiosks, customers can make ATM transactions, purchase Western Union money orders and money transfers, and cash checks through Certegy Check Services, a division of Certegy Inc. The offering on Vcom will expand later this year, including accepting cash payments for online shopping and online ticket services.
"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."
Keyes added that the expansion of Vcom, now being tested in 98 Florida and Texas stores, is an important growth initiative for the company.
Cyphermint will orchestrate the timing, frequency and placement of third-party ads and select and recruit online- commerce merchants for Vcom.