Visa Acceptance for Oils
Electronic payments are at the heart of the convenience offered by self-service gas stations. Visa acceptance can help petroleum retailers navigate the complexities of accepting cards at the pump without compromising security and deliver benefits including:
- Gains in efficiency – By requiring little to no involvement by a station employee, transactions are less likely to have errors, and customers can get back on the road faster.
- May help increase sales – Customers who use cards tend to spend more and make more frequent purchases.
- Access to more customers – With 2 billion cards issued worldwide and acceptance in 200 countries and territories,¹ Visa acceptance can help you reach more customers.
- More satisfied customers – Today’s customers want options for how they will pay, and they are increasingly choosing payment cards over cash. This is especially true of Gen Yers who are even less inclined to carry cash. For 24- to 30-year-olds, 63% of their monthly spending is on a card.²
Minimize risk, maximize convenience
Customers love being able to pull into a gas station, fill their own tanks, and pay at the pump – all without needing to involve an employee. But for merchants, providing self-service payments comes with challenges and security concerns.
Visa’s Real-Time Clearing
Visa’s Real-Time Clearing (RTC) program has been designed to help retail petroleum merchants facilitate faster, more affordable, and convenient payment acceptance at the pump. The program has three primary benefits:
- Reduces the impact of holds on cardholder accounts/funds.
- Provides greater protections for merchants.
- Speeds the flow of funds through the payment system.
Invested in the future of oils
Our ongoing commitment to safe, reliable transactions is just one way Visa supports petroleum retailers’ goals to serve more customers and do it more efficiently. Visa also innovates around new products and technologies to broaden available payment options. These include initiatives around mobile payments like V.me by Visa, our digital payment service; Visa payWave for even faster checkout via mobile phone; and chip cards for extra security.
1 Visa Inc. data, as of 31 March 2011
2 Forrester Research, Online Bill Payment Forecast 2009-2014