- 7-Eleven is offering Latin American customers a way to pay recurring bills with a cash-to-digital solution by fintech company Arcus. By using the Arcus mobile app, 7-Eleven customers can pay online bills in cash, per an announcement.
- Arcus users indicate which bill they want to pay, and the mobile app generates a barcode that a 7-Eleven cashier scans at the counter. Customers pay the bill in cash and receive a receipt as proof of payment. Most payments are posted within three business days, with some posted as quickly as one day.
- The Arcus mobile app is available for Latin American customers to download from Google Play or Apple's App Store. Consumers can start paying bills immediately after setting up an account, per the announcement.
By collaborating with Arcus, 7-Eleven is giving Latin American customers another reason to visit its stores, providing them with a way to pay online bills with cash or to add value to their digital wallets, debit cards and other services, per Arcus' website. In Latin America, 70% of people do not have a bank account, according to Fintech Futures. Arcus aims to provide unbanked and underbanked households with a cash-to-digital payment solution that's more convenient than other methods of paying bills with cash.
7-Eleven traditionally has focused on providing a convenient way to buy snacks, drinks, emergency items and gas. By offering a cash-to-digital payment solution, the store chain is expanding its range of convenient services. Those efforts include this year's test of a cashierless store that lets customers shop with a mobile app. Similarly, the chain last year introduced mobile checkout at stores in New York City and has expanded the features of its 7NOW delivery app in the past few years.
The partnership with Arcus is another sign of how the store chain has worked to enhance its shopping experience through mobile technology. Last year, the chain added loyalty features powered by augmented reality around March Madness and the "Pokémon Detective Pikachu" movie premiere.