7-Eleven puts Net shopping in stores
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Thread: 7-Eleven puts Net shopping in stores

  1. #1
    System_Overload
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    Thumbs up 7-Eleven puts Net shopping in stores

    I think this is really cool.... I love 7-Eleven...

    The newest way to shop online uses one of the oldest payment methods: cash.


    Convenience store chain 7-Eleven, which is testing out interactive kiosks in nearly 100 stores, plans to allow those kiosks to accept cash for online purchases later this year. The company plans to add its so-called Vcom kiosks to each of its 5,800 stores during the next 18 months.

    "This broadens e-commerce into the unwired, the unbanked, and people not comfortable using credit cards online," said Brady Giddons, 7-Eleven's director of business development for the kiosks.

    But consumers may have to pay for the convenience, as 7-Eleven is considering charging a transaction fee on orders placed through its Vcom kiosks. And they won't see the same selection they would find on a regular Internet-connected PC: 7-Eleven plans to limit the number of merchants and items offered on its kiosks.

    "I like the fact that (7-Eleven is) going after a market with pent-up demand," said Jim Van Dyke, a financial services analyst with Jupiter Media Metrix. "But the question is, are (their customers) dying to get online, and if they do get online, will they buy anything?"

    Credit cards have been the predominant payment form on the Web since the beginning of e-commerce because they offer an instant way for consumers and businesses to transact. But they are not a perfect payment solution. Millions of customers don't carry credit cards, and many of those who do are uncomfortable using them online because of security concerns.

    But consumers have had other options. Online stores such as Amazon.com have allowed customers to pay with checks or money orders. And such nonelectronic payment methods have long been the primary way to pay for items bought on eBay's auction site. Meanwhile, numerous alternative payment companies such as Flooz and Beenz have come and gone over the years.

    But 7-Eleven's move may be the biggest effort yet to challenge credit cards' pre-eminence. The company estimates that 100 million U.S. consumers don't have credit cards, and some 37 million don't even have a basic bank account. Meanwhile, about half of 7-Eleven's customers don't have credit cards, said Pat Lally, chief executive of Cyphermint, whose Pay Cash system will allow the Vcom kiosks to accept cash.

    7-Eleven will have about 10 to 15 merchants offering products through the kiosks, Giddons said. And each merchant will only offer their top 10 or so products. The idea is that customers will be able to use the machines quickly so that other customers can conduct transactions, Giddons said.

    "It's important for us to keep the transaction times small, very brief," he said. "We want to create an environment where they can make an easy decision. We don't want people to be able to surf around or read an excerpt of a book."

    Cyphermint plans to charge merchants a commission on products sold through the Vcom kiosks and will sell advertisements on the machines, Lally said. The company and 7-Eleven are considering charging consumers a $1 transaction fee for each purchase they make through the kiosks, he said. Cyphermint and 7-Eleven plan to share the revenue generated by the sales.

    Among the possible e-commerce services sold through the kiosks would be concert tickets, prescription drugs, airline tickets and maps, Lally said. Cyphermint is considering charging customers a $1 fee for printing out a map or printing out door-to-door directions from the Internet, he said.

    "I think maps are going to be a big seller," he said.

    7-Eleven will be adding Cyphermint's Pay Cash system to its kiosks in the fourth quarter.

    7-Eleven began testing its Vcom kiosks in Texas in late 2000. The company expanded its test to Florida last summer.

    The Vcom machines offer ATM services and allow customers to cash checks, buy money orders, and transfer money. Through a deal 7-Eleven has with Verizon Communications, customers will be able to view and pay their Verizon phone bills through the kiosks later this year.

    Facing competition from Wal-Mart and grocery store chains that carry essentially the same products, 7-Eleven and other convenience stores have been under pressure to find new sources of revenue and new customers. Vcom is one of 7-Eleven's efforts to try to differentiate itself from competitors, analysts and company representatives said.
    The Source


    System_0verload

  2. #2
    Senior Member
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    I hope that their network security is better than their hotdogs .
    OpenBSD - The proactively secure operating system.

  3. #3
    System_Overload
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    Talking

    *lol* Hey now I like there hotdogs.....


    System_0verload

  4. #4
    Banned
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    I like that idea, beats having to go down to the bank or postal office to get money orders and having to mail it (when merchants accept it)

  5. #5
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    A Slurpie with your E-Bay.... Hmmmmmm. What an interesting concept.
    The COOKIE TUX lives!!!!
    Windows NT crashed,I am the Blue Screen of Death.
    No one hears your screams.


  6. #6
    System_Overload
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    Talking

    Darn you {PP}Apocalypse now I want a Slurpie!!!


    system_0verload

  7. #7
    Originally posted here by smirc

    I hope that their network security is better than their hotdogs .

    Thank you. Come again!

  8. #8
    System_Overload
    Guest

    Talking

    Originally posted here by Conf1rm3d_K1ll



    Thank you. Come again!
    *Falls to the Floor* *lol* That was a good one!!!! Funny stuff....


    system_0verload

  9. #9
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    ggood idea, but i wonder how they will monitor it, and how will they know im not an uberHax0r takin all the moeny? lol

  10. #10
    Senior Member cwk9's Avatar
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    Feb 2002
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    New job title: System admin at the 7-11
    Its not software piracy. Im just making multiple off site backups.

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