Partnerships / Acquisitions

MoneyPass And FCTI Offer Surcharge Free ATM Access At 7-Eleven

MoneyPass announced news on Wednesday (Aug. 2) that it and FCTI reached a multi-year agreement for the MoneyPass Network to provide surcharge-free ATM access at more than 8,000 7-Eleven locations in the United States.

In a press release, the companies said that starting this month, MoneyPass access will be rolled out across ATMs in approximately 8,000 7- Eleven convenience stores nationwide. The fee-free ATM roll-out is expected to continue through the first quarter of 2018. At its completion, MoneyPass will have an estimated 33,000 surcharge-free ATMs in the United States, it said in the press release.

“The addition of the 7-Eleven stores to the MoneyPass Network brings value to both organizations,” said Douglas Miraglia, president of the MoneyPass Network, in a prepared statement. “MoneyPass card issuers can promote the expansion of convenient surcharge-free ATM access to their cardholders. And 7-Eleven looks to increase foot traffic to their locations from the 87 million cards of the MoneyPass Network.”  

Meanwhile Jeffrey Wernecke, co-CEO of FCTI, said the partnership with MoneyPass aligns with the company’s focus of delivering fee-free ATM programs that provide incremental value and increase foot traffic. “We are pleased to begin offering MoneyPass surcharge-free ATM access on FCTI’s ATMs at 7-Eleven,” he said.  

Back in January, NEC Corporation of America (NEC), a leading provider and integrator of advanced IT, communications, networking, retail and biometric solutions, announced it will be the new exclusive point-of-sale (POS) provider to 8,600 7-Eleven stores throughout the United States and Canada.

“We wanted to reach tech-savvy customers with a POS system that would streamline operations and improve customer engagement,” said Raj Kapoor, CIO and senior vice president at 7-Eleven at the time. “Providing an engaging digital in-store experience is something we are investing in for the long term, and NEC has the best POS hardware and software to take us there.”


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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