News

Trintech to provide transaction reconciliation for 7-Eleven's Vcom program

November 24, 2002

DALLAS and DUBLIN, Ireland -- 7-Eleven, Inc. will use Trintech Group Plc's (Nasdaq: TTPA; Neuer Markt: TTP) ReconNET 6.1 to manage transaction reconciliation and management needs for its Vcom™ kiosks.

According to a news release, ReconNET will help 7-Eleven reconcile the various Vcom transactions -- including check cashing, money order purchases and transfers, telecommunications services and e-shopping -- against incoming cash automatically.

"Trintech's ReconNET solution will help us to streamline a complex and time-consuming process," said Michelle Waters, 7-Eleven's manager of revenue accounting, in the release.. "As part of our Vcom initiative, ReconNET allows us to improve cash management with the confidence that our revenues will be reported accurately and in a timely manner."

According to the release, more than 275 companies use ReconNET, including Target Corporation, Eddie Bauer, The Limited, Radio Shack, Foot Locker, Best Buy, Hallmark Cards, Verizon Wireless, Sprint PCS, Kroger, AMC Theaters, Budget Rent a Car, Outback Steakhouse, Burger King and Wendy's.

Part of Trintech's PayWare suite of products, ReconNET provides enterprise reconciliation and exception management software for managing multiple transaction types, including cash and check deposits, card payments and disbursements, for verification, exception identification, resolution and analysis. ReconNET identifies and manages exceptions, such as missing deposits, fraudulent checks or unresolved chargeback, according to the release.

Founded in 1987, the Trintech Group provides secure electronic payment infrastructure solutions for card-based transactions for traditional commerce, e-commerce and mobile commerce. The Irish company has a U.S. office in Addison, Texas.