Arcus, a U.S.-based fintech platform, announced on Monday it has formed a partnership with global retail chain 7-Eleven to introduce a suite of payment solutions to its mobile app to focus on “cash-centric” consumers. Through the partnership, 7-Eleven is using Arcus’ technology to power an integrated payment experience for Latin American customers who are paying with cash.
“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.”
Speaking about the partnership, Edrizio De La Cruz, Arcus’ CEO and Co-Founder, stated the collaboration is a representative of Arcus’ goal of giving everyone access to an “exceptional” financial experience. He explained:
“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. Using our technology, 7-Eleven can now offer customers an easier, better way to manage their bills and other recurring payments.”
Hernan Motealvo, Director of Operations at 7-Eleven, further commented:
“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. Arcus was the ideal partner for us due to their real-time payments technology, enabling the fastest payment solutions possible for our customers.”
Arcus then added that the app is available for download for Latin American customers via the Google Play store or iTunes App Store.
Founded in 2013, Arcus notably provides a fully integrated core banking infrastructure that powers fintechs and banks “of the future.” The company noted that more than 40 banks and fintech companies use its technology to facilitate their consumers’ bill payments and management.