Intevacon is in business to equip petroleum marketers with the best proprietary fleet card in the industry. We define our success by our customers’ success, and this means that we stay focused on the Petroleum Marketer. Merchants are critical to transaction volume, which one would also think makes them a big influencer in the payments cycle. Interestingly, merchants don’t always receive the priority that they merit.
Apple recently announced its much-anticipated iPhone6, complete with the Apple Pay capabilities of near field communication. Already, there is a waiting list for consumers wanting to get their hands on an iPhone 6; however, there are concerns that there may not be adequate merchants to satisfy this new purchasing tool. A NACS article titled “Apple Built It—Will Merchants Come?” notes the potential added expense for merchants to adopt a new payment system. In a Wall Street Journal article published last week, the CEO of Crone Consulting is quoted saying, “Apple has rallied the issuing bank side, but not the merchant side.”
Another article recently posted in PYMNTS.com also cites similar disregard for the role that the merchant plays when it comes to networks. In a discussion about bank-owned networks, the article says, “[…] the networks actually forgot that they had more than one customer group to serve and that was the merchant.” The world of payments is changing, and merchants seem to be doing a lot of the leg work without reaping the benefits or having any influence.
While other entities may neglect the influence and respect due to merchants, Intevacon continues to build its success on the success of our customers. There are several key elements to Intevacon’s business model which point to our commitment to serve Petroleum Marketers. Our system was designed with our marketers in mind, so we provide a system that empowers marketers to create and manage their fleet accounts according to their own business rules. We maintain that Petroleum Marketers are best fit to manage their own fleet card accounts and manage those relationships. After all, it is those relationships that cultivate loyalty and repeat business at merchant sites. We appreciate all of our Petroleum Marketers, and we commit to continue creating opportunities to help them grow in success.