Convenience stores sell up to 80% of all gas in the U.S. Like everyone else in the current economy convenience stores are hurting because of the high gas prices and are looking for ways to cut costs. Credit card fees average more than 10 cents per gallon, so in order to cut these expenses, convenience stores are passing along savings to price-conscious customers. High gas prices hurt their bottom line. Customers spend less in the store which is the profit driving items for the convenience store.
The National Association of Convenience Stores have long been critical of the swipe fees charged by Visa and Mastercard to process transactions, saying it hurts both consumers and its members. Swipe fees cost the average family $700 a year for fuel. One way to cut these expenses if offering that discount to customers paying with cash.
To learn more about how we can help you save on credit card fees, contact us at (844) 4-FEEPASS.