We share three ways commercial clients can reduce fuel costs, even in a volatile fuel market, by partnering with quality suppliers.
Visa is supporting eligible small business owners in the fuel industry by enabling Visa Transaction Advisor (VTA) for no additional charge to help combat fraud at gas pumps. VTA offers real-time risk assessment when consumers pay for fuel at the pump, helping deter fraudulent payment attempts as fuel merchants work toward implementing EMV® technology, proven to reduce fraud. As fuel merchants upgraded their pumps to support EMV payments last year, counterfeit fraud rates declined simultaneously. From January 1 through September 30, 2020, counterfeit fraud rates declined by 22% and counterfeit fraud dollars declined by 32%. At the end of February 2021, approximately 51% of transactions on U.S. fuel pumps were EMV (VisaNet).
As you are aware, in September 2019 Hutchens Petroleum and Rentz-Eden Oil merged to create a stronger more diversified company for the future. During the first months, we have worked to make sure you our valued customers saw no decrease in the level of service you have come to expect. We also have taken this time to evaluate how we could leverage on the strengths of each individual company into a stronger integrated organization. Over the next several months we will be implementing some opportunities we see to improve our service.
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