Patriot Capital News | C-Store & Gas Station Equipment Finance News
Quick Trips Make Up More Than Half of All Shopping Trips
As retail continues to evolve, C-Stores are well positioned to meet emerging customer needs. Having a convenient location, combined with the proper selection of 'fill-in' items, can drive extra profit.
This story from Convenience Store News highlights key insights into how you can maximize this opportunity.Continue Reading...
Patriot Capital's Why Wait program allows you to upgrade your site this summer, and have no interest or principal payments until 2018. The program applies to all C-Store and fueling equipment, including gas pumps and underground storage tank (UST) upgrades. The promotion applies to all brands of equipment, installation, shipping and taxes for upgrades and new sites ordered by Nov. 30, 2017.Continue Reading...
The first EMV chip transactions have now occurred in the U.S. Kamlesh Patel, owner of 49 Fuels, stated that since "our dispensers were already EMV-ready, turning on EMV at the dispenser just required a simple Passport software upgrade."
Industry research suggests that up to half of the gallons pumped in the U.S. in 2018 will be from EMV enabled dispensers – dispensers that have EMV hardware installed and need only a POS or minor dispenser upgrade.
Dispenser and POS Companies See the Future - In the Cloud
Over the past several weeks, Gilbarco, Wayne Fueling, Conexxus and Verifone have held their annual user meetings. One of the objectives of these meetings is to provide customers with a glimpse into near term, and not so near term, products.
Here are some of the key trends that were discussed at these meetings:
- Autonomous and connected cars.
- The Cloud.
- EMV and Payment Security.
Does Trump's Tax Plan Mean Higher Costs for C-Stores?
President Trump has announced one of the largest tax cuts tin history. The changes will impact most American businesses, including convenience stores.
The planned reduction of taxes proposed for “for corporations, small businesses and partnerships of all sizes” is the headline story. At the same time, the maximum personal income tax rate is proposed to be 35 percent and the number of personal tax rates would drop from seven tiers to three (35 percent, 25 percent, 10 percent).Continue Reading...
Fed Increases Interest Rate, Two More Increases Expected in 2017
Citing continued economic growth nationwide, the Federal Open Market Committee (FOMC) voted unanimously to increase rates by a quarter of one percentage point. The committee also announced it expects to increase the interest rate two more times in 2017.
"The economy continues to expand at a moderate pace," Fed Chair Janet Yellen said at a press conference on March 15. "Solid income gains and relatively high levels of consumer sentiment and wealth have supported household spending growth. Business investment, which was soft for much of last year, has firmed somewhat, and business sentiment is at favorable levels. Overall, we continue to expect that the economy will expand at a moderate pace over the next few years."Continue Reading...
Eight Most Common Reasons Equipment Financing is Used
Nearly 80% of U.S. businesses finance or lease equipment, according to a report from the Equipment Leasing and Finance Association (ELFA).
The eight primary reasons businesses chose equipment financing are highlighted in this infographic.
The most common reason is the ability to finance 100 percent of equipment and related costs, saving cash-on-hand for other expenses.Continue Reading...
Pump EMV Liability Postponed - What Should You Do?
There was a collective sigh of relief on Dec.1, when VISA and MasterCard announced a delay in the forecourt gas pump liability date, moving it from 2017 to 2020. Most likely, there was also a smile in some boardrooms, as retailers who have already invested see an opportunity.
Fuel retailers need to decide if this means they should wait ,or upgrade as they had planned in 2017. The decision extends beyond fraud liability, and includes factors such as customer preference, the cost of waiting, and potential earlier liability for some sites.Continue Reading...