The retailer will add terminals to 3,000 Speedway locations and test services like cryptocurrency purchases with ATM solution provider FCTI.

7-Eleven testing new financial services in stores

Courtesy of 7-Eleven

Dive Brief:

  • 7-Eleven has expanded its partnership with ATM solution provider FCTI, according to a Friday announcement.
  • The two companies will be testing several new financial services, “including automated store deposits, cryptocurrency purchases and redemptions as well as a number of other cash in and cash out services” like prepaid reloads and online betting redemptions, said Rick Updyke, FCTI’s vice president of business development, in an email.
  • The broadened relationship will also bring Los Angeles-based FCTI’s ATMs to Speedway stores beginning early next year, said Updyke

Dive Insight:

As customers increasingly look for convenience and retailers look for ways to draw more people past the pumps, bringing more banking features to stores could make these 7-Eleven and Speedway stores even more of a destination. After the test period for the new financial services is complete, the two companies will decide which of these services will get a wider rollout. 

This expanded partnership, building on an agreement that began in 2015, will increase the number of 7-Eleven Inc. locations with FCTI ATMs from 8,600 to 11,600 by the end of 2025. There are currently no plans to add the ATMs to Stripes stores, Updyke confirmed.

This is just the latest technology update for Speedway, after 7-Eleven announced in January that it would be incorporating its proprietary store and fuel point of sale system at those sites.

Irving, Texas-based 7-Eleven operates, franchises and/or licenses more than 13,000 convenience stores in the U.S. and Canada.

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