Royal Dutch Shell PLC has introduced a closed-loop payment card that uses the automated clearing house system to process transactions.
The petroleum company announced plans in November to offer the payment system, the Shell Saver Card, which uses an ACH payment service from the First Data Corp. unit of Kohlberg Kravis Roberts & Co.
Shell said the card, offered through its Shell Oil Products U.S. unit, is now available at more than 14,000 Shell-branded gasoline stations nationwide. The company said it would offer users a discount of 5 cents per gallon on gas purchases until June 1, and 2 cents per gallon after that.
Shell has said that using ACH payments instead of credit or debit cards could save retailers up to 50% on fees per transaction.
