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ALEXANDRIA, Va. -- NACS – the Association of Convenience and Petroleum Retailing introduced a new credit card processing program that reduces credit card processing fees to 3.9 cents per transaction (after interchange) for member companies in the program.
The NACS member-only Card Processing Program (CPP), developed with First Data, is designed specifically for small, unbranded convenience store retailers whom NACS said can benefit most from the aggregation of their transactions with others in the industry.
The NACS CPP was first introduced in 2005 with a rate of 6.5 cents per transaction, which led the industry at the time and also drove down processing rates across the industry. As rates continued to drop, so did the rates for the NACS CPP, and the new rate, introduced at the NACS Show last month, is again the industry leader.
"The NACS CPP provides a money-saving price structure for all credit and debit transactions, easy implementation and training and one convenient statement that incorporates all card transactions," stated NACS Director of Products and Services Doug Spencer.
The NACS CPP has no percentage rates, no fee-padding or hidden charges and can support stand-alone transactions. Accepted card types include Visa, MasterCard, American Express, Discover, Diner's, Online Debit, Voyager and Wright Express.
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