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ChevronTexaco Reduces Fees for Retailers and Marketers

SAN RAMON, Calif.-ChevronTexaco Corp.'s Credit Card Enterprises (CCE) will reduce processing fees for retailers and marketers on credit and debit card purchases made between June 1, 2005 and August 31, 2005, the company announced.

All charges on electronic third-party credit and debit cards, including Visa, Mastercard, American Express, Discover, Diners Club, WEX and Voyager, made at Chevron or Texaco service stations will receive a 0.10 percent reduction in processing fees. There are no processing fees charged on electronic Chevron and Texaco card transactions. Manually processed transactions are not eligible for the fee reduction.

ChevronTexaco's reduction in fees follows a similar announcement from Shell Oil Products US, which is reducing fees for its retailers from May 1, 2005 until July 31, 2005.

"We are listening to the needs of our marketers and retailers in bringing relief from higher fees due to the increased demand during the summer coupled with the current volatility of the marketplace," said Danny Roden, vice president for North America Marketing for ChevronTexaco. "We are very proud to hold the highest credit card market share of any proprietary oil company credit card. Our retailers and marketers also enjoy the lowest total cost of credit in the industry. We are dedicated to providing our customers with the highest quality credit card processing services at a competitive rate."

In addition, CCE will introduce a proprietary credit card program for new consumer credit card customers beginning this summer. Under the new Credit Card Acquisition Program, new consumer cardholders can earn up to $30 in fuel credits. If the customer is approved for a new Chevron and Texaco proprietary card and uses the card to purchase a minimum of eight gallons twice during their billing cycle, they will earn a $5 credit per month for up to six months. The program will take place in July and August of 2005 and will be supported by a series of marketing and communications programs, including direct mailers and point of purchase displays on site.

CCE has established a program to help grow their credit card base by providing awards to stations for credit card approvals. The standard program is $5 per consumer credit card approval. CCE will launch the Triple Your Awards program by paying stations a $15 award for consumer credit card approvals during the months of July and August in 2005.

In other ChevronTexaco news, the company is rolling out its gasoline with Techron to its network of 1,300 sites in the United States, as well as its locations throughout Latin America.

According to Roden, the company will subsequently roll out its Techron fuel through its other markets. “We're the first oil company to have a standard additive across our entire market,” said Roden. The rollout is being accompanied by a “significant media campaign,” he added, including point-of-sale materials and promotional marketing.

Introduced in 1995 and reformulated in 1998, Techron offers “unsurpassed ability to prevent intake valve deposits and to remove deposits formed by lower-quality gasolines,” said Roden. Techron is available in all three grades of gasoline throughout the ChevronTexaco network.

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