Global convenience retailer chooses Arcus platform to power new fintech solutions for customers in Latin America
NEW YORK–(BUSINESS WIRE)–Arcus, a leading fintech platform, today announced a partnership with global retail chain 7-Eleven to introduce a suite of modern fintech payment solutions to their mobile app, focused on cash-centric consumers. 7-Eleven is leveraging Arcus’ technology to power a more seamless, integrated payment experience for Latin American customers paying with cash.
“The partnership with 7-Eleven is representative of Arcus’ goal of giving everyone access to an exceptional financial services experience. Historically, it has been challenging for people who pay with cash to manage their bills and for retailers to reconcile in-store cash payments for external parties,” said Edrizio De La Cruz, Arcus’ CEO and co-founder. “Using our technology, 7-Eleven can now offer customers an easier, better way to manage their bills and other recurring payments.”
The 7-Eleven app, powered by Arcus’ Payments and Cash to Digital solutions, serves as a full-service bill payment center, giving customers using cash a better way to manage their payments. With one trip to their local 7-Eleven store, app users are able to keep track of their payment history, set reminders and securely pay their bills in less than 60 seconds.
“At 7-Eleven, we want to help make life more convenient for our customers. By introducing bill pay services via 7-Eleven’s mobile app, we’re able to help our cash-centric customers with even the tightest schedules to easily and conveniently stay on top of their bills,” said Hernan Motealvo Director, Director of Operations at 7-Eleven. “Arcus was the ideal partner for us due to their real-time payments technology, enabling the fastest payment solutions possible for our customers.”
The app is available for download for Latin American customers via the Google Play store or iTunes App Store. Consumers can begin paying bills immediately by creating an account; adding a bill; showing the 7-Eleven cashier the barcode generated on your smartphone and telling them the amount to pay; and providing cash for payment. The user will be provided with a receipt as proof of payment. Most payments are posted to the account within three business days, though many billers post payments the next business day.
Arcus is the leading platform making fintech possible for everyone. Arcus’ fintech-as-a-service platform helps any business launch a fintech business. The world’s largest and most innovative companies choose Arcus to launch fintech products across the Americas including BBVA, Santander, Walmart, 7-Eleven and Rappi. The company is based in New York City and has raised $13M from Y-Combinator, Ignia, Maverick, Winklevoss, Initialized, HOF and Kapor. For more information, please visit https://www.arcusfi.com/.
7‑Eleven, Inc. is the premier name and largest chain in the convenience-retailing industry. Based in Irving, Texas, 7‑Eleven operates, franchises and/or licenses more than 70,000 stores in 17 countries, including 11,800 in North America. Known for its iconic brands such as Slurpee®, Big Bite® and Big Gulp®, 7‑Eleven has expanded into high-quality sandwiches, salads, side dishes, cut fruit and protein boxes, as well as pizza, chicken wings and mini beef tacos. 7‑Eleven offers customers industry-leading private brand products under the 7-Select™ brand including healthy options, decadent treats and everyday favorites, at an outstanding value. Customers can earn and redeem points on various items in stores nationwide through its 7Rewards® loyalty program, place an order in the 7NOW® delivery app in 28 participating markets, or rely on 7‑Eleven for bill payment services, self-service lockers and other convenient services. Find out more online at www.7‑Eleven.com, via the 7Rewards customer loyalty platform on the 7‑Eleven mobile app, or on social media at Facebook, Twitter and Instagram.