SAN ANTONIO — Convenience-store owners “have become increasingly concerned about EMV compliance,” said Alan Cerwick, president of VP Racing Fuels Inc. “In response, VP has created a new website—EMVsolved.com.
VP’s retail branding program has now partnered with distributors that collectively service more than 3,000 retail locations in more than 40 states. Stations have been converted to the VP brand in 14 states from Oregon to Georgia and Vermont to Arizona. The company said there are more in the pipeline.
VP designed the site to provide store owners with comprehensive information about the Europay, MasterCard and Visa (EMV) and Payment Card Industry (PCI) payments compliance standards.
It includes several videos produced by preferred lender Allied Brand Services LLC (ABS) that explain these issues and the options available to petroleum retailers.
According to ABS president Mike Cerminaro, ABS provides VP’s retail partners with up to 100% financing and other favorable terms for reimaging and signage, discounted point-of-sale (POS) system prices, 0% financing on fuel dispensers and other vendor financing programs.
“The requirements for EMV and PCI compliance are complex and expensive, requiring chip-enabled terminals inside the store, compatible data transmission lines and equipment upgrades in the forecourt,” he said. “ABS can help retailers understand what’s involved in all these upgrades, how to implement them most efficiently and cost-effectively, and provide the necessary financing under very favorable terms.”
On behalf of VP-branded dealers, ABS also has negotiated preferred pricing with the major equipment manufacturers on a broad range of EMV compliant equipment. This includes state-of-the-art POS system equipment from NCR, Verifone and others, as well as the newest fuel dispensers from Gilbarco and Wayne.
“I view the solutions we offer in four key categories—expense reduction, revenue enhancement, equipment financing and most recently, assistance with EMV compliance,” said Cerwick. “On the expense side, our credit card solution reduces the retailer’s expense on every transaction with the lowest processing fees in the industry, and we also give them the freedom to buy fuel on the open market, saving up to $.08-.10 on every gallon purchased. Combined, the total savings are substantial.”
“Regarding revenue, not only has our solution led to increased volumes of regular and premium gallons sold at every location that has converted to the VP brand to date, but VP-branded products create totally new revenue streams that aren’t available with any other brand,” Cerwick continued. “These stores become a destination for performance enthusiasts looking for VP’s off-road race fuel blends, performance chemicals, small-engine fuels, apparel and other products, each of which is high ring and high margin.”
“Financing capital investments can be a concern for store owner, so we provide a solution through [ABS],” Cerwick added.
Kingston, N.J.-based ABS is a leading specialty equipment finance company focused exclusively on the retail petroleum industry. ABS is a preferred financing partner of VP Racing Fuels, Brenntag North America for its bulk diesel exhaust fluid (DEF) equipment program and a variety of equipment manufacturers, independent gas distributors and jobbers.
Based in San Antonio, VP has fueled champions in every form of motorsport on land, sea and air since 1975. VP is the official racing fuel of Tudor United SportsCar Championship, AMA Supercross, TORC: The Off Road Championship, NMRA, NMCA, World of Outlaws Sprint Cars and Late Models, Pirelli World Challenge, PDRA and Rally America, among more than 60 VP-sponsored series and sanctioning bodies.
Gas stations and convenience stores that join VP’s retail branding program also distribute VP’s other product lines, including ethanol-free VP Small Engine Fuels, formulated for two-cycle and four-cycle outdoor power equipment; VP Madditive performance chemicals; VP PowerWash and more. VP also markets VP PowerMaster hobby fuels for radio-controlled (R/C) racing.