I've posted about this company a (de)couple times in the past, (See: KPG Ventures Funds NPCA and, Why $4.00 a Gallon is More Appealing to NPCA) so when this press release came across the wire, it caught my attention.
Between PayPal accepting STAR debit cards, Fifth Third Issuing RevolutionMoney Cards (see previous post) and RBS WorldPay accepting National Payment Card's, I would think that MasterCard might not want to give us such a hard time with an Internet "Card Present" classification, let alone an "unattended PIN Debit" one. There is a trend developing and MasterCard is in a position to secure their market with an innovative marketing move. My great grandfather told me, It's a lot more expensive to fix the leak AFTER the roof caves in.
Las Vegas, Oct. 22, 2009 -PIN Payments News Blog- RBS WorldPay, the fastest growing top ten payment processor in the US, today announced that National Payment Card Association (NPCA) debit cards can be processed by RBS WorldPay. As the leading provider of merchant branded ACH cards, NPCA offers merchants a card acceptance solution with significantly lower transaction fees than traditional credit or debit cards.
"RBS WorldPay is committed to offering our clients a wide range of card acceptance solutions," said Ian Drysdale, senior vice president of Market Development for RBS WorldPay. "Leading merchants are requesting alternative forms of payment that can reduce costs and increase sales. By processing cards from National Payment Card Association, we are further delivering on that promise."National Payment Card Association first introduced its alternative payment solution in June 2006, earning much attention from industry insiders and consumers. Often referred to as "decoupled debit," NPCA's leading ACH card solution has proven to be a beneficial alternative to traditional card acceptance in both the petroleum industry and other business sectors.
"RBS WorldPay is a premier provider in petroleum card processing. Working with RBS WorldPay highlights the increased national acceptance of our payment solutions for all petroleum merchants, from tier one through mid-tier to single store operators," said National Payment Card Association CEO Joe Randazza.
The NPCA PIN based payment system processes transactions through the Federal Reserve Automated Clearing House (ACH), resulting in lower merchant fees and a self-funded loyalty program that provides immediate savings to consumers. Specifically, the program benefits retailers by helping them save on the interchange fees credit card companies normally charge on each transaction. The merchant can then use some of the savings to incent customer behavior by passing some of that savings along to them right at the pump.
About National Payment Card Association
National Payment Card Association (www.nationalpaymentcard.com ), based in Coconut Creek, FL, is an innovative marketer of ACH decoupled card-based payment systems. The company's primary product is a retailer branded debit card that does not utilize the Visa/Mastercard rails that provides consumers access to funds in their checking accounts so they can pay for goods or services. The ACH Decoupled Debit Card is not a credit or debit card that is linked through the national banking networks, but rather utilizes a user ID for consumer authentication and is processed through the National Payment Card Association network. A Decoupled Debit Card can be a loyalty card, a membership card or Driver's License. National Payment Card Association has filed a series of patent applications for methods of payment processing with a driver's license.
National Payment Card Association is a member of the EFT Network, which is a part of the Electronic Check Council of NACHA. NACHA is the rule-making body for all electronic funds transfers made through the ACH.
About RBS WorldPay US
RBS WorldPay is a leading, single-source provider of electronic payment processing services - including credit, debit, EBT, checks, gift cards, e-commerce, customer loyalty cards, fleet cards, ATM processing and cash management services.
RBS WorldPay is the US-based payment processing division of the Royal Bank of Scotland Group plc. For more information, please visit www.RBSWorldPay.us .
About The Royal Bank of Scotland Group (RBS)
The RBS Group is a financial services company providing a range of retail and corporate banking, financial markets, consumer finance, insurance, and wealth management services. The RBS Group operates in the Americas, Asia and the Middle East serving more than 40 million customers. For more information, please visit www.RBS.com .
Source: Company press release.
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