VeriFone & National Payment Card Association Launch Mobile Solution
ATLANTA – VeriFone Systems Inc. and National Payment Card Association (NPCA) are partnering to launch a new mobile payment and rewards solution that lets convenience store and petroleum retailers offer customers smartphone-based payment options at the pump.
Retailers with VeriFone payment acceptance systems can utilize VeriFone's Smart Fuel Controller and NPCA's mobile payment solution to quickly implement a fixed low-cost mobile payment and rewards program built on existing infrastructure used for merchant-branded debit cards.
"Consumers are increasingly drawn to rewards-based fuel purchase programs and they expect to be able to use their mobile phone to complete transactions at the pump," said Dan Yienger, senior vice president and general manager of petroleum for VeriFone. "NPCA and VeriFone are showing how easy it is for [retailers] to offer mobile payment and reward options to customers that increase loyalty and sales."
Retailers have the option to develop their own mobile app or apply their brand to a mobile app supplied by NPCA to let customers pay for their purchases and receive loyalty incentives using their smartphones.
"Many consumers today would rather utilize the capabilities of their smartphones vs. pulling out their wallets," said Danilo Portal, chief operating officer of NPCA. "Using this solution, retailers can easily and cost effectively create mobile loyalty programs that attract and reward high-value customers — without having to replace their existing payment infrastructure."
NPCA's debit-based payment programs provide the ability to drive customer loyalty and reduce the cost of payments, according to the announcement. Fuel discounts are funded by interchange savings that retailers would otherwise pay to banks, and payment processing is done by NPCA using the automated clearing house (ACH) system to clear debits to cardholder checking accounts and net settle with retailers each day.
The VeriFone/NPCA mobile payment solution will be available for beta testing in November.