1. Why would a convenience store want to have a self-service kiosk offering financial products?

Estimates are that 15 percent of U.S. households do not use banks. That means they don’t have savings or checking accounts and seldom have credit cards since most require a bank account for approval. The “unbanked”

still need financial services. Self-service kiosks placed in convenience stores, malls, and other public locations are meeting that need.

Financial services kiosks allow consumers to withdraw cash, purchase money orders, cash paychecks, transfer money, pay utility and telephone bills, and purchase prepaid credit, debit, and gift cards. Some kiosks are even set up to allow customers to receive their wages in cash from employers or their pensions or other payments from the government. In addition to the value the kiosks provide to people who do not have bank accounts, they also provide convenient access to financial services for people who do have bank accounts. You can quickly pay a bill while filling up your gas tank or purchasing a cup of coffee.