The Durbin Amendment effectively closed the door on open-loop decoupled debit card products, but NPCA has weathered the transition and maintained its focus on delivering low-cost payments to merchants in debit verticals like fuel. With its mobile payment option in production at leading fuel/convenience store merchants like Cumberland Farms, the company has added to its IP assets with a new mobile wallet patent:
The patent is U.S. Patent Number 8,490,865, titled “Payment System and Methods.” The patent contains 18 claims, including various claims useable for a consumer to fund a mobile wallet via an ACH payment method for the holder of a U.S. checking account with a financial institution to accomplish a purchase at a retail site.
Even with the potential reduction of debit card fees likely as a result of a recent Federal court ruling (point to our blog here), decoupled debit programs running on an ACH network can offer a merchant lower TCO and in segments where margins rise and fall on pennies, NPCA can offer a competitive payment option.
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