11 Jul The Top Industry Solutions to Grow Your Propane Operation
When LP Gas magazine asked readers to describe their views on the propane industry, the two most commonly used words were “growing” and “changing.” In 2017, U.S propane exports were at an all-time high, and that trend is expected to continue. As the industry continues to grow, it will be more important than ever for propane operations to take measures to increase efficiency and optimize workflows. And technology is helping many businesses accomplish just that.
Here are 3 solutions to help your propane operation maximize revenue and drive growth:
Fuel Management Systems
A Fuel Management System can often be a significant up-front investment, but the benefits typically outweigh the cost. Reducing manual data entry means you can have confidence that your information is accurate and up to date. Some operations have saved up to 15% in fuel consumption, simply because their fuel management software allowed for precise billing data and less end-user error.
The capacity to verify drivers and vehicles at the pump can also help reduce fraud, saving you from further financial risk down the line.
Payment Processing Integration
Once you’ve invested in your Fuel Management System, you’ll want to partner with a payment processor that can integrate with your chosen system. This integration gives you the ability to run your operation from a convenient, central hub. Access in-depth transaction reports right alongside your inventory and delivery schedule, schedule recurring payments, and accept the most secure payments in the form of EMV chip cards.
The downside to integrating payment processing with your existing Fuel Management System? The process can be a little confusing. Not all processors will be able to integrate with all systems, so you’ll want to find a provider that will determine compatibility before you move forward with opening a merchant account. Ideally, any potential processor will handle all the legwork for you, confirming compatibility and completing the integration with no disruption to your operations.
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Velocity Filters
Adding velocity filters can greatly reduce the likelihood of chargebacks, especially on unmanned pumps. These filters limit the number of declines that are allowed before a customer will be forced to see the attendant or choose a different payment method. This prevents card testing, a practice that Visa describes as “swiping, inserting, or waving a payment card for authorization without pumping.” Card testing typically happens when a fraudster is carrying a number of stolen or fraudulent cards and is searching for one that has not yet been cancelled.
If one of these stolen cards is used to make a purchase, it’s inevitable that the true cardholder will eventually see the transaction and dispute the purchase. And that means you’re out inventory AND money.
Not sure whether velocity filters are the right solution for your business? Another option is to implement a delay between authorizations. While this doesn’t make card testing impossible, it makes it very inconvenient and time-consuming for any potential fraudsters.
Final Thoughts
As the industry trends toward technological advancement, propane controllers should make sure they’re planning for success. From accounting, to deliveries, to inventory, make sure your partners understand the unique struggles of the propane industry and help you overcome them.
BASYS Processing as a business partner
Does your current processor understand the unique struggles of your industry? Do they provide great rates and personal customer service? Are they offering solutions to grow your business and being proactive about helping you reduce risk and increase your savings?
Contact BASYS today to learn more about innovative payment solutions that will save you time and money. We make accepting debit cards and credit cards convenient, safe and affordable.
BASYS Processing features:
• A friendly, live voice will answer the phone when you call; no automated phone systems
• In-house PCI Compliance team to walk you through the process step-by-step, improving security and reducing costs
• Accept payments in person, over the phone or online
• Next-day funding options
About BASYS Processing
BASYS Processing provides credit card and debit card processing services, plus solutions that include terminals, virtual terminals, e-commerce, mobile, and point-of-sale, customized to fit any need. Banks, associations, and software partners depend on us to strengthen their reputations and relationships with their customers by providing remarkable service paired with ultimate flexibility and pricing. Merchants depend on us to make accepting credit cards and debit cards convenient, safe & affordable. BASYS was founded in 2002 on one philosophy: to take care of our merchants, partners, and employees so they never want to leave. We are dedicated to working one-on-one with our customers to design the perfect solution. BASYS is Personal Payment Processing.
Learn more at basyspro.com, and connect with us online at: