Texacoretailers have been benefiting from reduced Merchant Service Charges (MSC) after Valero, which markets fuel in the UK under the Texaco brand, restructured its agreement with its acquirer.
The reduction, which came into effect in January 2015, has been possible after Visa introduced lower cross border rates between European countries, pre-empting proposed EU legislation changes that come into effect this autumn.
“This is a great saving for our retailers, some of which could save as much as £3,000 per year,” said Andrew Cox, director of sales and marketing at Valero. “When we renegotiated our rates, our retailers were able to benefit immediately, and, I believe, we have been able to do this ahead of our competitors.
“We have one of the best retailer offerings on the market and if we can negotiate a better rate on something like MSCs to save our retailers money then we will.”
He said that Valero also offers its customers secure and reliable fuel supply, next-day fuel deliveries seven days a week, Texaco quality fuels with Supreme grades, and the opportunity to drive volume with Valero’s high earning Star Rewards loyalty scheme.