February 15, 2024

Cash Discounting

*Below is a message from one our Member Benefit Partners, Louis Puglisi of CardConnect:

Working in the payment processing industry for 22 years, and servicing NJGCA members for 14, I have seen many changes in the way retailers accept bank cards for the goods and services they provide, and how customers pay for them. From copying a card through a manual imprinter, to EMV Chip and Phone Payments, times sure have changed.

For most businesses, accepting non - cash payments is a “necessary evil” that cannot be avoided. The price of acceptance has steadily climbed throughout the years (like everything else) and I am sure Visa will be raising them again at some point in the near future.

While I am visiting NJGCA members all over New Jersey I know many of you have been in business--and loyal members--for many years. Some locations are on their 3rd, 4th, or 5th generation of family managing your location(s). I hear common stories about rising costs, labor, and supply chain issues. The unfortunate fact is that it is harder to remain competitive and maintain your profit margins because everything is UP.

There is a solution you may have come across in your daily lives called “Cash Discount”. The Cash Discount program allows your business to eliminate 100% of your monthly credit card processing fees. Offer your customers a choice to “Pay Cash and Save”.

A few examples are Cash/Credit pricing offered at the pumps. When fueling up, I understand I will pay $ .05 - $ .10 more per gallon for the convenience of using my card to cover the processing fees. Municipalities, DMV, and insurance companies have adopted this procedure years ago. Due to rising costs, Retailers can now benefit for the same Cash Discounting program.

How it works is a “Convenience Fee” is automatically calculated and applied to the sales amount. When your credit card terminal settles, the fee is automatically diverted to cover the cost of that transaction, and your business receives the full sales amount. Your processing fees are completely eliminated. If you are currently billed $200.00 or $2,000.00 per month in fees they will be gone. How would eliminating your monthly processing fees impact your bottom line?

There are strict compliance guidelines regarding signage, and terminal programming that must be followed. We ensure all NJGCA members are in strict adherence to the rules applied. Visa and American Express specifically is sending out Ghost Shoppers to visit retailers in New Jersey and some have received penalties up to $15,000.00 for not following the rules they set.

If you have additional inquiries about how this program works, please feel free to contact me. I am here to help. See our flier HERE. Call 609-957-1784 or email Louis.Puglisi@yahoo.com 
 

Reminder: Visa/Mastercard Settlement Notices

In December, we reported that several members received legal notices concerning a class action settlement against Visa, MasterCard, and several banks. 

We investigated the notices, discovered they were legitimate, then updated members on the substance behind the mailings themselves (learning that the settlement was due to a violation of antitrust laws, and that merchants that accepted Visa and MasterCard branded cards from January 1, 2004 to January 25, 2019 may have paid excessive fees). 

Starting in December, and continuing through the start of February, select merchants were invited to file a claim as part of a larger $5.54 billion settlement between the parties. If you had received a notice, you were invited to use your claim number to register on the official website: https://www.paymentcardsettlement.com 

As we are now in the middle of February, we wanted to revisit this issue and send along a reminder. If you have received a notice and wish to file a claim, you can do so online at the link above using the Claimant ID provided in the notice. 

However, if you did not receive a claim form by now, but believe that you should participate in the settlement (as you accepted Visa and MasterCard branded cards from January 1, 2004 to January 25, 2019, and could have paid excessive fees), you can still file a claim. To do so, visit the link above and begin the claim filing process by clicking the “Submit a Claim” button and provide your Taxpayer Identification Number.

Remember, time is limited. The window to join the class settlement agreement will expire on May 31, 2024, and no business will receive funds without first filing a claim.

You can learn more about the accompanying details by clicking HERE or by visiting the official settlement agreement website by clicking HERE.

Email Nick@njgca.org  or call 732-256-9646 if you have more questions. 

Reminder for Stations: EVR Deadline Coming in Less Than 10 Months

Over the last twenty months, the Association has reported on the NJ Department of Environmental Protection’s (DEP) Enhanced Vapor Recovery (EVR) upgrade mandate. Looking back at those earlier warnings, the EVR upgrades affect all locations with underground storage tanks (USTs) installed prior to December 23, 2017 and the upgrades must be completed before the December 23, 2024 deadline.

When we last touched on this in December, the deadline was just over a year away.  Today, for stations that are not already in compliance, you have 10 months and 8 days left to complete the upgrade. That’s actually not much time. 

We may sound like a broken record, but we will continue to urgently point out this deadline until all our members meet the mandate. While sounding the alarm the last twenty or so months could have been interpreted as “premature”, the reality is that securing a contractor and having the required work completed on time could prove difficult for some station owners.

That’s because getting a quote and signing a contract doesn’t necessarily mean that the work will be done quickly or be done on time. The update will include a California Air Resources Board (CARB) Certified Phase 1 system, and includes enhanced rotatable fill adapters, dust caps, spill buckets, hoses, and other requirements. There are plenty of manhours and parts incorporated into the equation. If one action item goes awry, you may face fines or penalties for non-compliance.

Looking at the Stage II Vacuum Assist Vapor Recovery decommissioning from a few years ago (which ended on December 23, 2020), there were plenty of examples of station owners with “good intentions” to get the work lined up and completed on time, but ultimately faced fines when the time lapsed. Despite their (incorrect) sense of having “plenty of time”, they unfortunately discovered that many contractors were already committed to taking on Stage II decommissioning projects through the end of that year. Those stragglers were out of luck, and many received violations and paid hefty fines for their non-compliance.

As stated previously, we highly recommend all affected stations comply with the upcoming mandates now! Any station with tanks installed before December 23, 2017 should contact their compliance vendor to inquire about the updates and schedule their completion immediately. If your contractor or compliance company has any questions, please click HERE to review the official DEP Compliance Advisory on the EVR mandate. 

Even if you think that it’s okay to wait until the last second, remember that manpower and materials are often at a premium. There’s nothing to guarantee against a shortage of knowledgeable staff or quality materials on hand by the time the project is complete. Don’t wait on this. Act now! Contact Nick@njgca.org 732-256-9646 for questions

Reminder for C-Stores: "Neptune's Fix" product recalled

A few weeks ago we told you about a product that was seriously harming customers, called "Neptune's Fix", made of a supplement called tianeptine which is legal but proving to be very problematic. Selling these products may generally be legal but can open you up to a serious threat of being sued. Recently the manufacturer of Neptune's Fix issued a mass recall, so please make sure you are no longer selling any of their products. We were asked to share this reminder from a State official. You can read more about the recall HERE and more about tianeptine HERE. 

Rack Averages

News Worth Knowing:

Member Benefit Partner (MBP) Spotlight: National Convenience Distributors (NCD)

NCD (formerly known as Harold Levinson Associates HLA) Proudly:

- Delivering 5 Days Per Week
- Selling 17,000+ Different Items
- EDI Ordering Compatibility
- Attentive Sales Professionals
- Hosting Multiple Seasonal & Virtual Trade Shows
- Offering: Expanded Foodservice Programs, including: Exclusive Mighty Chicken turn-key
program, Pizza, Rollergrill, Sandwiches, Salads & Grab-and-Go options
- Hot & Cold Beverage Programs: Proprietary Island Coffee, Green Mountain & Chock Full of Nuts as well as Iced, Frozen and Cold Brew Programs
- Comprehensive Premium Cigars, OTP, CBD, & Vape Programs
- Fee-based Marketing programs.
-Merchandising Support & Store Planning

& so much more...

Contact: Marty Glick, 631-962-2400 x1101 mglick@theNCD.com www.theNCD.com  

Available Real Estate

Station for Sale

Thriving High Profit Gas/Service Station close to Major Highway in Prime Location. 

This Exclusive Gas Station is the Sole Provider in the entire town, achieving a remarkable fuel profit of up to and sometimes over 1$ a gallon. Consistently selling 45,000 gallons monthly. Most fuel customers come from Highway so fuel prices do not have to be competitive. 

Also included with the Property is a Reputable High End Auto Repair Facility. Repair shop has all required Specialty and Diagnostic Tools for servicing mostly High End Vehicles. Advertising is no longer used do to an enormous Demand and large Customer Base. Repair Business has has potential for increased profitability and expansion, the business is open to experienced buyers for a possible partnership or profit sharing arrangement. Location is 1 out of 100. Fuel sales make 20-40K a month and repairs can do the same with the right operator. 

This one of a kind opportunity can include seller financing for those with High-Level Automotive or Gas Station Experience.

Contact Greg
908-291-7845

Cape Harbor Shell

795 Route 109

Unit B

Lower Township, NJ, 08204

Contact: Jerry 609-425-8837 capeharborshell@comcast.net 

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