FORT WORTH, Texas--(BUSINESS WIRE)--VALID Systems announced this morning that the Circle K convenience store chain is rolling out a new, state-of-the-art check cashing program to its company-owned locations, anchored by VALID’s groundbreaking decisioning and identification technology. Circle K joins major players in banking and financial services in VALID’s growing network of customers and partners.
750 of Circle K’s 3,000+ stores currently have this check cashing program. For many years C-Stores have known the benefits of having customers in their stores with money in their pockets. VALID has proven nearly 100% of its customers spend 3 times more than the typical customer. The multitude of behavioral facts we are seeing will change the check cashing and General Purpose Reloadable (GPR) landscape going forward. This new approach is easier and faster for customers and clerks to use, and will allow service to a wider range of customers in a safe and secure manner, representing a major step forward in retail check cashing.
The new system integrates existing hardware alongside new technologies. The verification and approval process is fully automated; the entire transaction takes approximately 60 seconds. Funds are loaded onto a Money Network branded GPR card provided by First Data. Customers can withdraw cash immediately from an onsite ATM, or use it like any other debit card.
By bringing multiple industry leaders together to optimize this program, VALID has once again demonstrated its capacity to advance financial services. It is this flexibility and strategic vision, as much as its groundbreaking technology, that has led to the success of the program. VALID believes Circle K’s check-to-card program is a strong model for the industry, providing consumers with immediate access to cash, all the benefits of a GPR card and the convenience of one stop shopping.
John Templer, Jr., VALID’s CEO, commented, “Circle K is a national and international leader in the convenience store sector. VALID’s retail product was designed with companies like Circle K in mind – offering the safety, cost-effectiveness, speed and convenience vital to implementation and operation in a multi-store environment. We look forward to helping Circle K deliver robust growth in the years to come.”
VALID Systems currently has over 3,000 check-to-card locations across the U.S. with multiple industry leading partners.
About VALID Systems:
Headquartered in Fort Worth, Texas, VALID Systems leadership team has delivered cutting-edge products to the underbanked financial services space for over 20 years. Our unparalleled consumer and product knowledge puts us at the forefront of innovative check cashing and GPR solutions. VALID’s products are deployed coast-to-coast; its customers include top banks, financial services companies and retailers. VALID has a fast, flexible, low-cost approach to better attracting and serving new and underbanked consumers.
VALID’s patented internet-based decisioning and identification system -- the most advanced on the market today – is utilized across its product line. Platforms include PC, POS, API, Terminals, and ATMs. VALID partners with multiple segment and industry leaders to deliver products that are easy to use, have low start-up and operational costs, and provide the highest degree of customer satisfaction. For more on VALID, visit: http://www.validadvantage.com.