7-Eleven has applied for ACCC authorisation to partner with Virgin Australia’s Velocity Frequent Flyer program for at least five years.
Under the proposed arrangement, Velocity Frequent Flyer members would be able to earn and redeem Velocity points at all 7-Eleven petrol stations and convenience stores across Australia.
Velocity members would earn points when buying fuel, convenience store products and services like car washes or electric vehicle charging (where available) at any 7-Eleven store. Some items such as gift cards or Opal/Myki/Go card top-ups would be excluded from earning points, but there may be special offers from time to time including bonus points.
Velocity members would also be able to link their Velocity accounts on the My 7-Eleven App. The Velocity partnership would complement 7-Eleven’s existing “Reward Every 7th Visit” loyalty program.
Virgin’s Velocity Frequent Flyer program previously had an extensive partnership with BP petrol stations in Australia. But this partnership ended in January 2020, with BP launching its own BP Rewards loyalty program in partnership with Qantas Frequent Flyer shortly after.
Velocity Frequent Flyer has been without a major fuel retail partner since losing BP last year. Meanwhile, Qantas Frequent Flyer partners with BP, Flybuys partners with Shell & Coles Express, and Everyday Rewards points can be earned at Woolworths Petrol outlets.
7-Eleven not only fills this gap for Velocity, but the new partnership would also help 7-Eleven to compete with other petrol stations and convenience stores.
7-Eleven has fewer stores in Australia than BP, with fewer than 600 petrol stations and around 150 additional convenience stores.
But if this partnership goes ahead as planned – which is likely – Velocity members would be able to earn and redeem points at all 7-Eleven petrol stations and convenience stores in Australia. By comparison, only approximately 1,111 of the 1,499 BP stores in Australia participate in BP Rewards.
7-Eleven also offers a handy Fuel Price Lock.
An interim ACCC decision is expected by the end of May, and final approval is expected in July 2021. The ACCC is inviting public submissions on the proposal.
Join the discussion on the Australian Frequent Flyer forum: Velocity to partner with 7-Eleven
