World's Leading Convenience Retailer Signs Deal With NCR to Build, Deploy And Maintain Self-Service Kiosks
The convenience of automated financial and e-commerce services at 7-Eleven stores is growing as a result of a three-year, multi-million-dollar agreement announced today by 7-Eleven, Inc. (NYSE: SE) and leading financial self-service solutions provider NCR Corporation (NYSE: NCR) of Dayton, Ohio.7-Eleven will begin adding its Web-enabled Vcom(TM) kiosks to 1,000 stores later this year, launching a new business the company refers to as "a virtual store within a store". The kiosks will be built, installed and maintained by NCR.
Vcom is 7-Eleven stores' kiosk that offers 24-hour, touch-screen convenience coupled with automated teller machine (ATM) capabilities to provide customers with financial and other services. Vcom is unique because of the variety of offerings and payment methods on a single, self-serve device. Vcom complements and expands 7-Eleven's existing financial services business. Customers already conduct some 100 million ATM transactions and purchase $4.5 billion in face value of money orders annually at 7-Eleven's U. S. stores.
Jim Keyes, president and CEO of 7-Eleven, said, "Vcom makes existing services more convenient at 7-Eleven and presents an important, new growth opportunity for the company. We developed the innovative concept, brought together industry-leading partners and proved through comprehensive testing that people want 24-hour access to these kinds of automated services. We look forward to offering Vcom at an initial 1,000 7-Eleven stores."
Keyes added, "7-Eleven chose NCR to develop Vcom because of their position as the leading global ATM technology provider. We look forward to working together on the continued expansion of this new business."
Howard Lance, NCR president and chief operating officer of its retail and financial group, said, "From our perspective, the decision by 7-Eleven to team with NCR reinforces the leadership position that both of our companies enjoy. This is a result of very close collaboration over the last several years on this and other significant projects."
The agreement calls for 7-Eleven to use NCR's Convenience Connexions(TM) solution and includes the purchase of 1,000 NCR Personas 78s, software and a complete set of services and support to expand Vcom, which has been tested in 98 7-Eleven stores in Texas and Florida. NCR's APTRA(TM) open architecture software platform will permit a robust set of automated services in the three- foot-wide, self-service terminal.
Through exclusive agreements with its Vcom partners, 7-Eleven currently offers customers ATM transactions, check cashing through Certegy Check Services(SM), a division of Certegy Inc.; and Western Union money order purchases and money transfers. Other Vcom offerings planned for the initial 1,000-store rollout are telecommunications services through Verizon Communications, Inc., and e-shopping using Cyphermint, Inc.'s secure cash- payment technology, called Pay Cash System(TM), to access select e-commerce products, such as event ticketing, weather reports, lottery results and travel directions.
Said Keyes, "These and other Vcom services we plan to add allow us to expand our relationship with current customers and attract new ones who want the 24/7 service that Vcom can provide. Those who do not have traditional banking relationships or access to e-shopping will find a new level of convenience at their local 7-Eleven."
In exchange for 7-Eleven granting strategic partners exclusive rights to offer their products through Vcom kiosks, the service partners pay placement fees, a percentage of the transaction fees and expense reimbursement. 7-Eleven has received more than $220 million in placement-fee commitments from its other service partners, most of which are funded as Vcom kiosks are deployed. 7-Eleven continues discussions with companies to provide services that will enhance the Vcom experience.
About 7-Eleven
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry and is observing its 75th anniversary in 2002. Headquartered in Dallas, Texas, 7-Eleven, Inc. operates or franchises approximately 5,800 7-Eleven(R) stores in the United States and Canada and licenses approximately 17,000 7-Eleven(R) stores in 17 other countries and territories throughout the world. During 2001, 7-Eleven(R) stores worldwide generated total sales of more than $31 billion. Find out more online at www.7-Eleven.com .
About NCR Corporation
NCR Corporation is a leading global technology company helping businesses build stronger relationships with their customers. NCR's ATMs, retail systems, Teradata(R) data warehouses and IT services provide Relationship Technology(TM) solutions that maximize the value of customer interactions. Based in Dayton, Ohio, NCR (www.ncr.com ) employs 30,300 people worldwide.
NCR and Teradata are trademarks or registered trademarks of NCR Corporation in the United States and other countries.
CONTACTS: Carole Davidson
7-Eleven, Inc.
Investor Relations
214-828-7021
cdavid01@7-11.com
Margaret Chabris
7-Eleven, Inc.
Public Relations
214-838-7285
mchabri@7-11.com
Lorraine Russell
NCR Corporation
Public Relations
937-445-3784
lorraine.russell@ncr.com
Gregg Swearingen
NCR Corporation
Investor Relations
937-445-4700
gregg.swearingen@ncr.com
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SOURCE 7-Eleven, Inc.; NCR Corporation
CONTACT: Carole Davidson, Investor Relations, +1-214-828-7021, or
cdavid01@7-11.com , or Margaret Chabris, Public Relations, +1-214-838-7285, or
mchabri@7-11.com , both of 7-Eleven, Inc.; or Lorraine Russell, Public
Relations, +1-937-445-3784, or lorraine.russell@ncr.com , Gregg Swearingen,
Investor Relations, +1-937-445-4700, or gregg.swearingen@ncr.com , both of NCR
Corporation
URL: http://www.ncr.com
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