Hoot Payment Solutions Launches Low-Cost Payment Processing for Fuel Companies
Lynnfield, MA (January 22, 2019): Hoot Payment Solutions, an electronic payment processing service designed specifically for fuel oil and propane companies, is now available for integration with a wide range of back office management programs. Hoot Payment Solutions helps energy companies reduce payment processing costs by identifying and correcting Merchant Category Codes that have been improperly classified, leading to lower transaction fees.
“Many fuel companies are simply not set up to take advantage of all the benefits available to them,” says Mark Nardone, founder and president of Hoot Payment Solutions. “They are either unaware of the availability of lower rates or have fallen victim to predatory pricing by unscrupulous processors.”
Companies that do not split Merchant Category Codes for each type of credit or debit card accepted are likely paying too high a rate on every transaction. Hoot Payment Solutions is designed to identify and correct these errors to minimize processing costs, which can result in substantial savings.
Nardone says company research shows only 20 percent of fuel oil and propane companies have a “good deal” (the right set up, correct pricing structure and a fair rate). The other 80 percent are either set up correctly but paying inflated rates or have inaccurate Merchant Category Codes and are not qualifying for the lower utility rates or emerging market rates for which they are eligible.
The Hoot Payment Solutions program was developed by Blue Cow Software, a leading enterprise management software developer for the energy industry. Blue Cow Software’s founder, Mark Nardone, grew up working in his family’s fuel business, giving him direct insight into the challenges and issues faced by fuel oil and propane businesses. Although Hoot Payment Solutions was developed by Blue Cow Software, the system can be easily integrated with most third-party back office software for fuel marketers.
“We want to educate our customers in order to reduce the confusion about electronic payment processing for our fuel oil and propane partners and to make sure they are getting every discount and rate advantage to which they are entitled,” says Mark Nardone. “To that end we are planning to conduct a series of webinars to introduce payment ‘best practices’ for the industry. The more you know about payment processing, the better able you will be prepared to avoid excessive fees and costs.”
About Hoot Payment Solutions
Hoot Payment Solutions is a credit card, debit card, and e-check processing system that is specifically designed for fuel oil and propane companies. The system provides a secure, lower cost alternative to traditional payment systems, and integrates with all major energy industry software suites.