7-Eleven, Inc. to Implement Visa ReadyLink in Its U.S. Stores

7-Eleven, the worlds largest convenience store chain and one of the nations largest independent gasoline retailers, will work with its Visa member acquiring financial institution to implement the service. This service will allow consumers to add funds to eligible Visa reloadable prepaid cards at the nearly 5,350 stores that 7-Eleven operates and franchises in the contiguous U.S.Visa ReadyLink also enables Visa and its member financial institutions to further meet the needs of underserved consumers. According to Visa estimates, there are approximately 80 million underserved consumers in the U.S. - those who lack access to a payment card or are without a traditional banking relationship. This consumer segment receives approximately $1 trillion in annual income and relies heavily on cash for everyday transactions.Visa ReadyLink adds a significant enhancement to the VisaNet infrastructure, using VisaNets scope, efficiency and reliability along with standardized settlement processes and timing. Implementation of the service will help to support continued adoption of prepaid products while enabling merchants to increase traffic to retail locations and drive customer loyalty.While direct deposit is the primary method many cardholders use to fund Visa reloadable prepaid cards, Visa research shows consumers also want the flexibility to add funds to their cards at everyday shopping locations, such as supermarkets, drugstores and convenience stores.Cardholders will be able to load funds onto participating Visa reloadable prepaid cards at 7-Eleven stores later this year.