Technology/Services

7-Eleven to Offer MoneyGram

Service added to 2,250 7-Eleven Vcom terminals

DALLAS -- Global payment services company MoneyGram International and ATM provider Cardtronics said that MoneyGram money transfer and ExpressPayment urgent bill payment services will be offered through 2,250 advanced-function ATMs located at 7-Eleven Inc. U.S. convenience stores beginning in late 2008.

As part of a multi-year agreement, the financial self-service kiosks will facilitate money transfer and ExpressPayment urgent bill payment for walkup customers without the aid of store personnel.

Currently located in more than 20 major metropolitan areas, the financial [image-nocss] self-service kiosks facilitate automated money transfer or ExpressPayment urgent bill payment and dispense cash when receiving a money transfer at the terminal. Cardtronics has the exclusive rights to operate advanced function ATMs at select 7-Eleven stores through 2017.

"The addition of more than 2,000 7-Eleven locations to our network makes MoneyGram services more convenient in many neighborhoods and communities and gives consumers more choices for their money transfer and bill payment services," said Dan O'Malley, senior vice president and president of the Americas for MoneyGram.

"Partnering with MoneyGram to provide money transfer and urgent bill payment services will greatly enhance the financial services on our advanced function ATMs," said Rick Updyke, president of global development for Cardtronics. "We believe that the MoneyGram services give consumers who prefer convenient financial transactions the best value."

Added O'Malley, "While the reach of 7-Eleven stores brings immediate convenience to our customers, a relationship with Cardtronics has added potential as we both have an interest in technology that simplifies financial transactions."

MoneyGram service at the 7-Eleven advanced function ATMs will initially be offered in Arizona, California, Colorado, Delaware, Florida, Maryland, Oregon, Pennsylvania, Texas, Utah, Virginia and Washington.

Headquartered in Houston, Cardtronics is the world's largest nonbank operator of ATMs. It operates approximately 33,000 ATMs, with ATMs in every major U.S. market, approximately 2,500 ATMs throughout the United Kingdom, and approximately 1,800 ATMs in Mexico. Major merchant clients include 7-Eleven, Chevron, Costco, CVS/pharmacy, Duane Reade, ExxonMobil, Rite Aid, Safeway, Sunoco, Target and Walgreens. Complementing its ATM operations, Cardtronics works with financial institutions of all sizes to provide their customers with convenient cash access and deposit capabilities through ATM branding, surcharge free programs and image deposit. Approximately 10,000 Cardtronics owned and operated ATMs currently feature bank brands.

MoneyGram International Inc., St. Louis Park, Minn., is a leading global payment services company. The company's major products and services include global money transfers, money orders and payment processing solutions for financial institutions and retail customers.

7-Eleven Inc., Dallas, operates, franchises or licenses more than 7,600 7-Eleven stores in North America. Globally, 7-Eleven operates, franchises or licenses approximately 35,000 stores in 17 countries. During 2007, 7-Eleven stores worldwide generated total sales of more than $46.6 billion.

Separately, MoneyGram International said during its third-quarter earnings conference call last week that it will offer its money transfer, money order and other services at 6,000 CVS pharmacy stores by year-end, reported The Pioneer Press.

The previously unannounced partnership with CVS eclipses MoneyGram's arrangement with Wal-Mart in the number of stores, said the newspaper. MoneyGram is in about 3,500 Wal-Mart stores. But Wal-Mart stores are larger and draw heavy foot traffic, so they are not directly comparable, said Anthony Ryan, MoneyGram's chief operating officer.

MoneyGram had been testing the CVS partnership, in which its services are sold at photo counters, for the past several months, the report said. It began the official rollout in mid-October and currently is in about 1,400 stores.

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