Chase Paymentech Expands Petroleum Payment Technology Offerings

Now supports Topaz/Sapphire

Published in CSP Daily News

DALLAS -- Chase Paymentech Solutions LLC said that it has expanded its technology offerings to petroleum merchants, and it can now support payments processed through the new VeriFone Topaz/Sapphire integrated point-of-sale (POS) system.

The Topaz can act as the cashier's command center, managing up to 32 fuel pumps at once and connecting to other systems, including tank monitoring, loyalty program, car wash controller and backoffice management software.

The new POS system is certified to Chase Paymentech's proprietary retail network [image-nocss] platform, which offers merchants a completely redundant system for the highest possible availability, even in the event of a disaster. Chase Paymentech also works with several managed IP network providers to support merchants connecting via frame relay or virtual private network configurations (VPN), in addition to high-speed dial and satellite.

In addition to the new POS system, Chase Paymentech offers other industry-specific solutions for the petroleum industry, including partial debit authorization, which allows a customer paying at the pump with a debit card to dispense fuel even if he does not have the minimum preauthorization amount in his checking account. Partial debit authorization allows the customer to dispense fuel for the amount available in his account and automatically shuts down the pump, to close the sale, when this amount has been dispensed.

Chase Paymentech, headquartered in Dallas, is a major North American financial transaction processor, serving businesses of all sizes and industries that accept electronic payments. The privately held company offers a variety of products and services, including payment processing, customized reporting, fraud management, alternative payments, international processing and industry-specific technology. Chase Paymentech Solutions was formed by the 2005 integration of the former Paymentech and Chase Merchant Services. In 2004, the integrated companies processed 13.1 billion transactions and $500 billion in bankcard volume, it said.