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February 2007 |
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ACH - not just for regulated payments anymore
Fintech customers have long been using the Federal Reserve's Automated Clearing House (ACH) for regulated beverage payments. Now, that same payment process may help retailers battle the high merchant fees that plague several industries.
Murphy Oil USA Inc., a Fintech customer since 2005, recently announced an agreement with National Payment Card LLC (NPC), an electronic funds payment service bureau that interfaces with POS systems, to institute its patent-pending technology that it says will substantially reduce card acceptance costs at selected Murphy Oil USA retail outlets.
This technology would allow Murphy Oil customers at approximately 984 fueling sites in 12 states to pay at the pump or in-store using just their driver's license with a magnetic stripe that is tied to their checking account. When the sale is made, an electronic check is debited from the customer's account and is processed through the federal ACH system.
Meanwhile Flash Foods, a Fintech customer since 1997, has entered into an agreement with NPC to introduce ACH-based payments by leveraging its existing loyalty card as a payment card. Flash Foods said it will work with NPC and Pinnacle to leverage the strength of its existing loyalty program by having cardholders enroll their loyalty cards as a payment card on Flash Foods' website.
These steps are the first of many towards reducing merchant fees. Learn more about how to use ACH payments for regulated beverages by visiting: www.fintech.net.
Excerpted from NACSonline.com
Do more people want to shop at high-end grocery stores, where there is an olive bar by the deli meat counter? Where to-go-lunch options include sushi and jumbo crab cakes?
Maybe. And at least one major Fintech customer, Food Lion LLC, is looking into it.
A spokesman for the company said it is evaluating all of the Food Lion stores in the Hampton Roads, Virginia area to determine which ones would be changed to Bloom stores, which are more upscale than Food Lion stores, or to Bottom Dollar stores. The company owns 35 Bloom stores, 18 Bottom Dollar stores and more than 1,200 Food Lion stores.
"We realize that we need to provide different shopping experiences for various customer needs," said Karen Peterson, corporate communications manager for Food Lion LLC. "Food Lion may appeal to one shopper, Bottom Dollar m ay appeal to another. Bloom may appeal to yet another. A particular shopper might find something at all three."
Bloom stores, Peterson said, would offer "everything from practical items to the exotic," such as real sugar canes. They are also more high-tech than Food Lion stores. For example, shoppers can set up a grocery list online, at home, and print it out at the store. There also will be kiosks throughout the store to help people select recipes or wines.
Food Lion LLC, offering a store to fit everyone's tastes!
Excerpted from dailypress.com |
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Click here to enter the contest!
Enter our quarterly contest to win a gift certificate to one of a selection of Fintech retailers such as Target, Costco, Kroger, Exxon, Applebees, Outback and others!
First Prize (1 winner)
$500 gift certificate
Second Prize (1 winner)
$100 gift certificate
Third Prize (5 winners)
$50 gift certificate
Congratulations Winners!
Please join us in congratulating our winners of our quarterly Fintech Focus newsletter contest (11/06):
First Prize - $500 gift certificate to one of a selection of Fintech retailers
Manny Gallardo - Latino Wines LLC
Second Prize - $100 gift certificate to one of a selection of Fintech retailers
Carolyn Ashton - United Distributors, Inc.
Third Prize - $50 gift certificate to one of a selection of Fintech retailers
Brent Evans - Western Beer Distributors
Christine Maas - Earl Smith Distributing
Mike Costello - Shipwreck Tavern and Grill
Diane Keyes - Baker Distributing Corp.
Jenifer Noble - Core Mark International
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Distributors
A & B Distributing, Inc.
Alamo City Liquor Inc.
Albert Brothers Dist., Inc.
Anna Fine Wine & Spirits
Avante Beverages / GLI, Inc.
Bacco Fine Wine
Baltic Food Distributing
Bayside Distributing, Inc.
Bellboy Corporation
Biscotti's Family Winery
Choice Brands, Inc. - LA
Doll Distributing LLC
Eagle Rock Rome
Earl Smith Dist Co - St. Clair
Empire Merchants
Epicur Wines, LLC
Euclid Beverage - Galesburg
First World Imports
Gamma Vino, Inc.
Gaylord's Steak and Seafood
Great River Beverages
Green Valley Wine & Spirits
Holloman Distributing Co., Inc.
Independent Dist. Co., Inc.
Indiana Wholesale Wine & Spirits
Marsala Beverage LP
Mishawaka Brewing Co.
S & S Spirits, LLC
Spec's Family Partners
Stevenson Beer Dist. Co. Inc.
Treasure Coast Beverage, LLC
Tuckers Beverage, Inc.
Universal Wines and Spirits
Valle Vista Country Club
Venture Marketing
Bars
Big Daddy's of Lake Norman
Brian's Wonder Bar
Derek & David, LLC
Improv City Place, Inc./Wet Willies
Las Margaritas Restaurant
New Phillips Lounge
Nick & Howard LLC
Oakfield Lanes
Shamrock's Tavern / Bugsy's, Inc
The Goose's Acre Bistro & Irish Pub
VFW Post 4194
Convenience Stores
Brainerd - Beer Div
Everybody's Oil Corp / Milk Barn
Fastrack Market & Deli
Fifth Day Quincy, LLC
Gardner's Market / Farm Stores
JJL, Inc.
Martin Oil Company
Meca Petroleum
Mian, LLC / Stop N Go
Milo's One Stop / CHA, Inc.
Ossie, Inc.
Roadhouse 54
RWJ Management Co., Inc.
Singh Petro II, Inc.
Smoker Friendly / Klafters Inc.
Sugarloaf Restaurants
Ventura Market
Zoom's Inc. |
Drug Stores
Rite Price Foods
Hotels
Best Stay - Coldwater, Inc.
The Metropolitan Hotel, LLC
W2005 New Century Hotel Portfolio / Broadway Hospitality
Supermarkets
Bloomfield Township Market, LLC
Hardin Grocery
Pinny Food Center
Liquor Stores
Beer N All
Orland Park Liquors
Tivoli Wines LLC
Wine Styles
Other
Aero Services Partners
Fraternal Order of Eagles
-Delaware OH
Mojave Crossing Casino
Summit Dining Room
at Cincinnati State Technical CC
The Vernon Club, LLC
Restaurants
Austin Java City Hall
Azoni's Management LLC
Baker Street Pub & Grill
Bamboo - Novi, LLC
Bar Louie Glendale
Bar Louie Oak Park #756
Barefoot Golf Resort
BBQ Ventures of Kansas, LLC
Beechwood Inn
Blue Agave Restaurant
Boone County Golf Courses
Boston's The Gourmet Pizza
Buddy's Pizza
Buffalo Wild Wings - BV
Buffalo Wings & Rings
Burke Mountain Operating Co.
Carolina Meadows
Cavanagh's Social Club
Centro
Cocoa Beach Cookeries
Coozans Hot Wings
Dan McGuinness Pub
Dolce Group Atlanta - Dolce
Duplin Land Development Inc.
Edwardsville Wine Group
Empire Liquors
Escalante's Comida Fina, Inc |
Restaurants
Fast Eddie's - Odessa
Fast Eddie's Aggreland, Inc.
Gem Partners LP / Ruby Tuesday
Giordano's Restaurant
Great Wolf Lodge - Mason
Grillroom Bonita
Grow Union Centre, LLC / Mesh
Hurricane Wings Tequesta
Jasper AZ LLC dba Jaspers Peak
Johnny Carino's of Skagit Valley
Lone Tree / Bartums
Maitake Inc / Mellow Mushroom
Matador Tacoma
McFadden Lane Inc.
Mesa Restaurants
New Pioneer Co-op
Ocean Ridge Plantation
Old Chicago
Old Town Sports Grill
Osprey Otsego Properties
Owl's Eyes, Inc.
Palm Harbor Steakhouse
Phase 54
Pickle Barrel Night Club
Quaker Steak & Lube
Red White and Brew Bistros Inc.
Rene Roman Inc. dba Lalos
River Hills Country Club
Russo Family Tradition LLC
S-Corp/Champions Bar & More 1
Sagebrush Cantina Inc
Seaside Store
Sizzlin 5 Inc. / Brann's Catering
Slendido at Rancho Vistoso
Smoke Rise Golf & CC
Smokin Joe's Casino
Snowflake Inn, LLC
Sonny's BBQ Mobile
Southern Restaurant Group, Inc.
Swan Lake Holdings, LLC
Tadesco's Grillside
Teeluck LLC dba Chit Chat
The K Club, LLC
The Ritz Carlton - Sarasota
The Rose Restaurant
The Tilted Kilt
Tijuana Flats / BR-3, LLC
Tilted Kilt Pub & Eatery
Tom's Oyster Bar
Triphammer Hospitality Assoc
Tuesday Group
Wildwood Geneva, LLC
Wintzell's Oyster House
Wow Food Concepts, LLC
Zona 78 / Stone River Venture |
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| 7702 Woodland Center Blvd., Suite 50 | Tampa, FL 33614 |
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