7-Eleven is launching cash-to-digital payments for consumers in Latin America, which was made possible through collaboration with a fintech company named Arcus. Customers of 7-Eleven now have the ability to pay online bills in cash by using the Acrus mobile app. This is possible by cashiers at 7-Eleven locations scanning a barcode from the customer's Acrus app, and customers will then receive a receipt. Cash-to-digital payments will be processed within three business days, however, some may be processed before this.
Overall the ability to make cash-to-digital payments could provide a convenient way for people to pay online bills, especially for those who may not have convenient internet access.
The Acrus app is currently available for both Android and iOS devices.
Image Credit: Courtesy of Arcus
What's Driving This Trend
- Cash-to-digital Payments
- The trend of cash-to-digital payments is disrupting traditional payment methods and providing a convenient way to pay online bills.
- Fintech Collaboration
- The trend of collaboration between traditional businesses, like 7-Eleven, and fintech companies, like Arcus, is opening up new opportunities for digital payments.
- Convenience and Accessibility
- The trend of offering convenient cash-to-digital payment options is addressing the needs of individuals without convenient internet access.
Who This Affects Most
- Retail
- The retail industry can explore cash-to-digital payment solutions to enhance the convenience and accessibility of online bill payments for their customers.
- Fintech
- The fintech industry can further develop collaboration opportunities with traditional businesses to expand cash-to-digital payment services and reach a wider consumer base.
- Mobile App Development
- The mobile app development industry can capitalize on the growing demand for cash-to-digital payment apps and create user-friendly payment solutions for various businesses and industries.
