Powered by National Payment Card Association's payment platform, Fleet One merchants will receive the following best-in-class consumer payment option, including:
A merchant-branded consumer debit card. Significantly lower transaction fees than credit or debit cards. A real-time [image-nocss] merchant reporting system containing the consumer's name, address, email, phone number, shopping frequency and dollars spent. The merchant's cardholders will have a web-based consumer enrollment system, a web portal to view transactions and update personal profiles, and email notification from the merchant acknowledging/confirming every purchase. "Fleet One is pleased to offer our accepting merchants a new and substantially less costly payment solution specifically designed to attract and retain consumers and pump more profits back into their businesses," said Michael Thompson, senior vice president of sales and marketing at Fleet One. "With this new program, Fleet One offers its retail clients a merchant branded, consumer debit card solution requiring no additional POS programming or equipment investment."
"Fleet One is being proactive and showing a unique sensitivity by helping its installed base of petroleum retailers address the high processing cost of credit and debit card fees associated with consumer payment settlement," said Joe Randazza, CEO of National Payment Card Association. "We welcome the opportunity to offer Fleet One a payment solution that will allow it to expand its expertise to the consumer sector."
In addition to a lower transaction fee, National Payment Card Association's solution is designed to change consumer payment behavior with an immediate price rollback reward at the time of purchase. The discount can also be provided via a back end reward process, where the discount is calculated based on gallons purchased so the consumer is debited the net amount. The rewards are funded by passing a portion of the transaction savings from traditional interchange fees to consumers at the merchant's discretion. (Interchange fees cost American consumers nearly $2 of every $100 they spend using credit cards. For retailers, interchange fees are the second-highest store level cost behind labor.)
Nashville, Tenn.-based Fleet One provides fuel cards and fleet management solutions to businesses and government agencies, as well as the merchants that serve them. Customers use Fleet One fuel cards at convenience stores, truckstops and maintenance merchants across the country to capture purchasing data and pay for fuel and fleet maintenance on cars, vans and trucks of all classes and sizes. It also offers private-label fuel card programs, real-time reporting, tax-exempt billing, vehicle tracking tools, electronic payment authorizations, billing and financial settlement. Fleet One is a division of Fleet One Holdings LLC, an affiliate of LLR Partners and FTV Capital.
National Payment Card Association, based in Coconut Creek, Fla., is a payment processor of decoupled debit cards. The company's primary product is a retailer branded debit card that does not use the Visa/MasterCard rails, but rather provides consumers access to funds in their checking accounts so they can pay for goods or services. A decoupled debit card is not a credit or debit card that is linked through the national banking networks, but rather utilizes a user ID for consumer authentication and is processed through National Payment Card Association's network. A decoupled debit card can be a loyalty card, a membership card or driver's license. National Payment Card Association has filed a series of patent applications for methods of payment processing. National Payment Card Association is the only nonbank company (not associated with credit/debit card bank associations or financial processors) whose decoupled debit platform has been designed exclusively for the gas station/convenience store industry.
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