Convenience store chain taps provider for electronic settlement processing
Dallas — March 12, 2004 — National electronic payment processor Paymentech has won a multi-year contract to provide settlement processing for 1,663 Circle K convenience stores located across the United States.
Circle K is a subsidiary of Alimentation Couche-Tard Inc., a Canadian convenience store chain and the fourth-largest convenience retailer in North America. Paymentech already provides services to Alimentation company Mac's Convenience Stores, which operates outlets in the U.S. Midwest and Canada.
Paymentech said it processes more payment transactions than any other company in North America, and more than half of all Internet transactions, for retailers accepting U.S. and international payments via traditional point of sale, Internet, catalog and recurring payments.
In addition to Circle K and Mac's Convenience Stores, Paymentech provides electronic payment processing to numerous petroleum marketers at nearly 20,000 petroleum/convenience store locations across the country.
"This is a great win for us, and a natural partnership, since we are already working with Mac's Convenience Stores," said Scott Cruickshank, chief marketing officer at Paymentech.