Petroleum Card Services Review

Founded in 1999, Petroleum Card Services is a merchant account provider that specializes in providing credit card processing for gas stations. Petroleum Card Services (PCS) is a subsidiary of Paysafe and uses First Data (now Fiserv) as its card processor. Although PCS is not a direct processor, it appears to manage the customer service of its accounts directly instead of outsourcing this service to Fiserv.

Payment Processing

Petroleum Card Services specializes in processing debit and credit card transactions for gas stations. Their offerings include EMV card readers, swipers, EBT support, wireless payments, and compatibility with various POS terminals.

Fleet Card Processing

Petroleum Card Services provides fleet card processing, allowing businesses to accept payments via fleet cards commonly used to manage fuel expenses. This service simplifies transactions for businesses and their corporate customers.

Mobile Payment Solutions

Recognizing the need for mobile transactions, Petroleum Card Services offers a mobile payment solution. This service enables businesses to process card payments using mobile devices.

E-Commerce Solutions

With the increasing importance of online commerce, Petroleum Card Services has developed a secure online payment processing solution. This service helps businesses manage online transactions safely and efficiently, supporting online shopping and pre-payments for fuel.

Virtual Terminal Services

For businesses handling remote transactions, Petroleum Card Services offers a virtual terminal service. This allows businesses to manually enter card details into a secure online system, providing a practical solution for remote payment processing.

Integrated Business Tools

Petroleum Card Services offers integrated software solutions for business management. These tools include payment processing, inventory management, CRM, and data analysis.

Low Complaint Total

As of this review, only a few negative Petroleum Card Services reviews have been filed online, most of which can be found in our comment section below. Among these complaints, one is related to customer service, another seems to be the fault of the merchant rather than Petroleum Card Services, and a third appears to be an isolated incident that was successfully resolved. Two complaints received responses from a company representative, who addressed the concerns professionally. If you have your own Petroleum Card Services review to share, please feel free to do so in the comments below.

Petroleum Card Services Customer Support Options

Petroleum Card Services provides a live phone support number and email contact information on its website, meeting the standard expected of top-rated processors for excellent customer service.

PaymentPop Rating for Petroleum Card Services

Positive Feedback

There are no positive reviews published about Petroleum Card Services on the PaymentPop website.

Petroleum Card Services BBB Rating

Currently, PCS has been accredited with the Better Business Bureau since 2013 and has an “A+” rating based upon 1 complaint filed in the last 36 months. The lone complaint was resolved to the dissatisfaction of the merchant or received no final response.

PCS has received 1 negative informal review on its BBB profile. This review describes held funds:

Clients can avoid situations like this by understanding why processors hold funds.

An “A” Performance

Given the company’s clean complaint record, we agree with the BBB’s rating at this time.

What Agents Say

According to an agent of Petroleum Card Services, the company offers month-to-month contracts with no cancellation fee. Additionally, the agent stated that Petroleum Card Services passes the wholesale interchange processing cost onto merchants with only a 5 cent ($0.05) markup and no percentage markup whatsoever. These claims sound almost too good to be true, and they are directly at odds with the company’s actual merchant agreement. That contract also includes an equipment lease through First Data Global Leasing which is non-cancellable and typically lasts for 48 months.

What the Contract Says

According to the company’s merchant agreement, Petroleum Card Services fees include a three-year agreement with a $300 early termination fee, a one-time $25 set up fee, an annual PCI Compliance fee of $109, a monthly minimum of $25, an annual membership fee of $75, and a tieredpricing schedule. These terms are more expensive than industry averages and are nowhere near the prices that a representative quoted to CardPaymentOptions.com. However, these exact terms may be outdated or exclusively offered by a specific agent.

Pricing May Vary

If you have any knowledge of whether the document provided on the company’s website is accurate, please share that information in the comment section of this review. For now, business owners should not assume that Petroleum Card Services offers pricing that is competitive with cheap merchant accounts.

We also encourage you to check out our list of the providers of the best merchant accounts.

No outstanding class-action lawsuits or FTC complaints have been found against Petroleum Card Services. Dissatisfied clients seeking non-litigious resolutions against the company should consider reporting it to the relevant supervisory organizations.

Outside Sales Team

Petroleum Card Services appears to rely on a combination of telemarketing and independent sales offices to market its accounts, but there are currently no Petroleum Card Services reviews that accuse the company’s sales staff of unethical practices. PCS likely benefits from its narrow focus on a single industry.

This compares favorably to our list of best credit card processors.

No Deceptive Quotes

PCS does not utilize any deceptive advertising or sales tactics that are apparent to us. In light of the company’s low complaint total and its lack of deceptive advertising, we have awarded it an “A” in this category. If you suspect that Petroleum Card Services is overcharging you, we recommend seeking a third-party statement audit to find and eliminate hidden fees.

Petroleum Card Services (PCS) stands as a specialized merchant account provider for businesses in the petroleum industry. Over the years, PCS has received a relatively low volume of complaints, reflecting a decent reputation in the market. However, concerns have been raised regarding their partnership with First Data (now Fiserv) and the inclusion of non-cancellable equipment leases in their standard contract terms, which could lock businesses into unfavorable long-term financial commitments.

Despite these concerns, it may still be possible for businesses to negotiate more favorable terms with PCS, especially if they approach the negotiation process well-prepared. Businesses considering PCS for their merchant services should undertake comprehensive research and actively negotiate to improve the terms offered. Comparing PCS’s pricing and contract specifics with top-rated providers in the industry is also advisable to ensure they secure the best possible service for their specific needs.