Magazine article American Banker

Shell to Offer ACH Payment Card

Magazine article American Banker

Shell to Offer ACH Payment Card

Article excerpt

Byline: Steve Bills

Royal Dutch Shell PLC says it plans to begin issuing a closed-loop payment card in January that would let people make purchases through automated clearing house debits to their bank accounts.

The Shell Saver Card is to use an ACH payment service from First Data Corp.

Timothy J. Horton, the vice president of product development at the Denver processor's Telecheck Services Inc. unit, said that Shell would be the first national client for his company's ConnectPay electronic payment service.

Telecheck is to supply payment verification services to Shell.

The Shell card will be availabe, starting Jan. 5, at more than 14,000 gas stations nationwide.

Shell said that using ACH payments instead of credit or debit cards could save retailers up to 50% on fees per transaction.

Elizabeth Hudson, the head of U.S. consumer cards at Shell Oil Products U.S., said in an interview Friday that the ACH card also would drive customer loyalty to the Shell brand among a group that does not carry one of Shell's existing payment cards. …

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