Gas Stations, Car Washes & Automotive Companies

Gas stations with “pay at the pump” credit card options, presents a unique set of challenges to business owners. Payment processing for Automotive and Petroleum businesses can be a little complicated, in a competitive environment. Profit margins on gasoline sales are extremely small, so expensive processing fees will hurt the bottom line. Green Pay offers our clients low rates at $.02 per transaction.

Seamless pump controller integration is required to avoid any downtime. We are certified with all pump controllers, including Gilbarco and Ruby, for quick and easy setup and implementation. Green Pay provides prompt availability of funding from “pay at the pump” transactions.

With a number of major stations now “de-branded”, payment options are more important than ever. Most “branded” station owners are restricted to only processing their credit card transactions with the fuel brand they contract with. Now with the proliferation of un-branded stations, profit margins on fuel sales have increased, as more processing options are available.

Car washes and automotive repair businesses can also utilize our processing services. Why not accept additional card types to increase your appeal to fleet card holders as well?

Green Pay offers many cost saving alternatives for processing your credit card transaction, including the acceptance of major fleet cards: Wright Express and Voyager!

Business-Friendly Merchant Accounts for High-Risk Businesses in the Automotive Industry. The automotive industry is a competitive industry. It is inclusive of the used car dealers, auto-repair services, car/ vehicle loan and insurance companies, auction houses, car/ vehicle remodelling services, engine suppliers and used car parts sellers.

Having been labelled as a business with inherent risks, because of the competition, unpredictability, and variability due to the constant array of new products rendering the old ones almost obsolete, it is no wonder that credit processing companies are very reluctant to open merchant accounts for automotive dealers. A bank or a financial processor faces a financial risk when providing services to such a volatile industry. The stakes are high and therefore the interest rates are high and techniques of provision are quite complex. More so, if you’re a new entrant to the business.

The following are some broad aspects that need to be considered when one is looking to setup merchant accounts for start-ups and established businesses in automotive business. When you look for a payment processing firm willing to take-on high risk businesses in the automotive industry, the criteria that you should be looking must have the best deals in terms of

• Reasonable interest rates
  
  
• No hidden costs
  
  
• Lesser chargebacks
  
  
• Congenial for start-ups and high-risk ventures
  
  
• Zero application fee
  
  
• Reasonable or low processing charges
  
  
• Flexibility in services for automotive industries
  
  
• Off-shore payment options
  
  

High Risk Payment Processors for Automobile Industry

There are online merchants who help with automatic credit card processing solutions. For a certain fee charged by the payment processor, these high-risk businesses can give greater payment flexibility and have a more customer friendly approach. Used car dealers, transport service providers, automotive repair services, spare part providers etc., are also covered by such online merchants and their payment processing needs are taken care of for a reasonable fee and reasonable reserve requirements and policies.

Merchant Accounts for Automotive Start-Ups and New Businesses: The new entrants in the automotive businesses may find it difficult initially to find a regular payment processor like PayPal, First Data, or Stripe for their processing solution needs. The rates quoted by many such well-known payment processors maybe very high for a start-up.

There is a definite variation in the rates for a start-up versus the one with a history. This is due to the high risk versus low risk situation for a new business and an already established one with a fair to decent and good credit history. Look for a service provider who gives you competent rates with no hidden costs.

Domestic and Offshore Payment Processing Solutions

It is less-riskier and simpler when dealing with a domestic business enterprise. The laws governing the businesses are the same and people are generally aware of the domestic business policies, risks, and policy changes. Therefore, the rates are also lower. But, there maybe a few business modules which require offshore payment processing facilities. Such businesses come with inherent risks of non-payment, non-compliance, and a not so conducive offshore business environment. A payment processing solution that caters to offshore accounts with a secure and safe payment gateway is very essential for such businesses that have to deal necessarily with offshore business and payment options.

What to do when you’re denied or shut-off and closed by any major credit card processors? Payment processors are always ready to do business with established industry players with a fair to good credit rating and have relatively lower risk factors. Sometimes, things may not work out and you falter, the major players and established banks may deny extension of your account with them. If you’re a novice in a high-risk business module, there are chances that you maybe shut off and closed by major credit card processors. This is because every financial transaction in such businesses comes with an inherent risk. There are online and other payment processors who can offer competitive rates and a well drafted policy of risk management. It is well worth your time and effort to search for such an option which offers reasonable terms and conditions and a friendly customer support system.

A good/ reliable credit card processor is one who gives a wide array of options in providing payment processing solutions. Some of the equipment includes options like terminal facilities both virtual terminal and IP terminal, mobile credit card processing, secure payment gateway when dealing with swipe-reading devices, card-not- present services, an auction clearing house (ACH) payment option, online payment options etc., This in-turn translates into providing flexible payment options for customers and helps them build a customer-friendly approach and improve their business standards. As business flourishes, it is possible to quote the best competent rates and a pragmatic, simple payment structure in the industry.

Be sure to contact us today to learn more about Green Pay, and how we serve the Petroleum industry!