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DALLAS - 7-Eleven Inc. has selected CashWorks Inc. to provide check-cashing services at select 7-Eleven stores equipped with the convenience-store company's self-service Vcom kiosk. Terms of the agreement were not disclosed.
Consumers can cash government and payroll checks at approximately 1,000 7-Eleven stores in 13 states where Vcom is installed.
"We chose CashWorks because they specialize in cashing payroll and government checks, expertly applying their risk-decision methodology in the convenience store channel," said Brady Giddens, 7-Eleven's managing director of Vcom. "This is an ideal fit for Vcom and should serve our convenience customers well."
CashWorks has a Central Decision Engine that runs on a proprietary system and uses a wide range of internal and external data designed to evaluate check-cashing requests within a dynamic risk-evaluation architecture.
Vcom, which stands for "virtual commerce," is 7-Eleven stores' proprietary kiosk that offers ATM capabilities and touch-screen convenience to provide customers with financial and other services 24 hours a day. Customers can use Vcom kiosks to conduct ATM transactions, cash checks, purchase money orders and money transfers, access Verizon residential telephone services, pay bills and purchase phone and stored-value cards.