The deal allows customers to send and receive funds around the clock at over 530 7-Eleven stores in Australia
International convenience store chain 7-Eleven has extended its agreement with payment services provider Moneygram in Australia to allow customers to send and receive funds 24-7 at self-service kiosks located in over 530 7-Eleven stores.
It’s been reported that over 60% of transactions made at these kiosks are completed after normal business hours.
Driving repeat business
"Introducing MoneyGram has provided our customers with another reason to visit 7-Eleven,” said Warren Wilmot, CEO of 7-Eleven Stores Pty Ltd. “Thousands of new and repeat customers use this service every year, enhancing our convenient, one-stop shopping for Australians,"
7-Eleven is one of the world’s largest convenience store chain with close to 53,000 stores in 16 countries. The retailer offers consumers a number of services including automated money orders, automatic teller machines (ATMs), phone cards and, where available, lottery tickets.
Transfer services through kiosk
MoneyGram is the only funds transfer provider in Australia to offer money transfer services through a kiosk. The relationship between 7-Eleven and Moneygram has been in place since 2010, supported by technology company Cullinan Consulting Group which provides the kiosks and retailer assistance technology.
According to the World Bank, the Australia remittance market is approximately $7.3 billion as of April 2014. Money transfer transactions sent from Australia primarily go to India, the Philippines, Fiji, Zimbabwe, Pakistan, Bangladesh and South Africa.