COCONUT CREEK, FL – National Payment Card Association has received a $2 million investment from KPG Ventures. The company sells a low cost alternative debit payment system.

National Payment Card Association’s technology is currently being deployed in fuel and convenience stores across the country, allowing consumers to save money and merchants an alternative to the large transaction processing fees charged by traditional transaction processors.

“National Payment Card Association’s product is an innovative, money-saving concept that has already met with a great deal of success,” said National Payment Card Association CEO and founder Joe Randazza.

The National Payment Card Association PIN based payment system processes transactions through the Federal Reserve Automated Clearing House (ACH), resulting in lower merchant fees and a self-funded loyalty program that can provide immediate savings to consumers.

The program benefits retailers by helping them shift away from the interchange fees credit card companies normally charge on each transaction by moving them to the lower cost ACH system.

The merchant can then use some of the savings to change customers’ payment behavior by passing some of that savings along to them right at the pump.

“KPG seeks investments that can scale and solve a highly defined consumer problem and found both of them in National Payment Card Association,” said Dave Hills, a general partner of KPG Ventures.

Online: www.nationalpaymentcard.com

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