Fuel Cards Get Hot

More from the Ecount Fuel Card announcement:

The Ecount Fuel Card is different than most gas cards. It can be used for gas and more, everywhere Visa(R) debit cards are accepted. Also, the card can be reloaded in value, allowing a company to efficiently conduct recurring reward programs and distribute varying denominations.

PSS World Medical, a national distributor of medical products with over 3,200 employees, commented on their recent launch of the Fuel Card program to their employees.

"PSS World Medical is dedicated to being an employer of choice," stated Eric Miller, Vice President of Finance for PSS World Medical. "We conduct an annual survey of our employees, and this year gas prices and the rising cost of commuting was their number one concern. The Fuel Card program will help defray a portion of their costs on an ongoing basis. We have the best employees at PSS World Medical and will continue to provide exceptional benefits to them."

With employees in all 50 states, PSS World Medical is like many other large companies looking to provide a relevant and valued reward.

"The Fuel Card program is another building block in our ongoing commitment to our employees," continued Miller. "Already the feedback we have received has been tremendous. We are excited to be able to offer our employees this level of benefit."

In 2006, Ecount has already issued tens of thousands of Fuel Cards for leading companies. Many Ecount clients are choosing the Fuel Card, using it for everything from consumer incentives, gifts with purchase, performance bonuses and, like PSS World Medical, employee rewards. The Fuel Card program is being used across many industries as well, from automotive and power sport vehicles to electronics and medical sales.

"With gas prices over $3.00 in many parts of the country, a large number of leading businesses have turned to our Fuel Card," stated Matt Gillin, CEO of Ecount. "Our clients have found it to be a very relevant reward, a great employee benefit and a highly motivating incentive. The Fuel Card is always more appreciated than putting an extra $25 in a paycheck or handing out checks."

The fourth-largest operating expense item for convenience and petroleum stores is credit and debit card fees. These costs rose to 7.8% of gross-margin dollars in 2005 according to the National Association of Convenience Stores. Factors such as more consumers using credit and debit cards to pay for their higher gas bills to the increased adoption of reward cards caused a 50 percent increase in the card interchange fees in the past five years. National Payment Card system settles the transaction as an electronic funds transfer through the Automated Clearing House (ACH) network, thereby saving 48% per transaction for credit cards, 22% per transaction for check cards and 13% for PIN debit cards after the 3 cents per gallon price roll back at the pump.

The National Payment Card fuel payment solution focuses on changing the consumer’s payment method through his/her instant gratification by the price rollback. It is simple for the consumer to use -- the customer enrolls in the program via the Internet giving his or her checking account information and consumer-selected user ID. When purchasing gas, a consumer swipes the payment card, enters his/her user ID at the pump or inside the store as a method of payment and the transaction is sent to National Payment Card for validation and processing in a similar manner as a signature debit card.