Petroleum Card Services
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Petroleum Card Services Overview
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Founded in 1999, Petroleum Card Services (pcs4fuel.com) is a merchant account provider based in Minden, Nevada that specializes in providing credit card processing services to privately own gas stations. Interestingly, Petroleum Card Services (PCS) is a subsidiary of iPayment and uses First Data as the card processor. Although PCS does not process in-house, it appears to manage the customer service of its accounts directly, instead of outsourcing to First Data. In addition to supplying merchant accounts, PCS also sells and leases pay-at-pump and countertop card acceptance equipment.
Petroleum Card Services Sales Tactics & Marketing Strategy | A+
PCS does not utilize any deceptive advertising or sales tactics that were apparent to this reviewer. The company appears to rely on telemarketing and various other marketing tactics to acquire new accounts.
Petroleum Card Services Fees, Costs & Contract Terms | A
According to an agent of PCS, this provider offers month-to-month contracts with no cancellation fee. Additionally the agent stated that PCS passes the wholesale Interchange processing cost onto merchant with only a five cent ($0.05) markup, and no percentage markup whatsoever. Merchants signing up with PCS are advised to carefully read their contract to make sure this is actually the case since it almost sounds too good to be true. Aside from processing fees, PCS also charges a $5 monthly statement fee and a $100 annual PCI compliance fee (or $10/mo instead of the annual charge). Since the PCI compliance fee is somewhat high, PCS’ grade in this section drops slightly to an “A” instead of “A+.”
Petroleum Card Services Complaints & Service | A+
As of this review, no complaints about PCS have been filed online. There could be two possible reasons for this: First, PCS appears to handle its customer service in-house and is able to better serve its merchants than if outsourced it. Or, second, PCS complaints get attributed to either iPayment or First Data instead of PCS. For the purposes of this review we are going to give PCS the benefit of the doubt and rate using the first scenario.
Petroleum Card Services Better Business Bureau Report | C
Currently, PCS is not accredited with the BBB and has a “C” rating based upon one complaint filed in the last 36 months. Since the BBB grade is only factoring a single complaint, and has no other negative information to report, it will not be weighed heavily in the PCS’ overall rating on this website.
Bottom Line
Overall Petroleum Card Services scores well in our review of the company. Since PCS is a subsidiary of iPayment and uses First Data as the card processor, be sure to fully read and understand the terms of your merchant account agreement before signing with this company.
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