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DALLAS - 7-Eleven Inc. and Alliance Data Systems Corp., a provider of transaction, marketing and credit services, will team to offer consumers greater convenience and new benefits by introducing two stored-value programs.
Under the terms of a six-year agreement, Alliance Data will provide stored-value and loyalty-marketing services for 7-Eleven stores' Vcom electronic commerce kiosks. Vcom is 7-Eleven stores' proprietary, self-service machine that offers financial and other services 24 hours a day.
Currently, customers can conduct ATM transactions, purchase money orders and money transfers, cash checks, and soon they will be able to pay certain bills online. 7-Eleven plans to install Vcom kiosks in 1,000 of its stores by the end of May and, based upon the kiosks' performance, the company could deploy an additional 2,500 kiosks in its stores starting in late 2003. Customers also will be able to use their Vcom stored-value cards for most purchases within the store and at the gasoline pump.
Using Alliance Data's Dynamic Value program, which combines stored-value and loyalty-marketing functionality, 7-Eleven stores' Vcom kiosks will begin allowing consumers this spring to store money on the Vcom card after either cashing checks at the kiosks or loading cash onto the card. Vcom members can later access new loyalty capabilities that can include real-time, point-based rewards and other customized loyalty programs developed by 7-Eleven and Alliance Data.
In a separate three-year agreement, Alliance Data will provide stored-value services for the new 7-Eleven Convenience Card for sale beginning in February at participating 7-Eleven stores around the country. The Convenience Card is re-loadable and includes a corresponding keychain card for greater convenience.
"Our partnership with Alliance Data Systems will help enable us to enhance the quality of service that we provide to each of our customers," said Jim Keyes, president and CEO of 7-Eleven. "By combining Alliance Data's expertise in transaction processing and in loyalty marketing, 7-Eleven can reward our customers for their purchases in real time at the point of sale."