Merchants will face more than 260 million chargebacks worth $5.8 million this year, according to a new study from Boston-based Aite Group.
The increases – 17 percent more transactions and 21 percent more in dollar volume – come after the liability shift last fall for EMV or chip cards moved to merchants for in-store terminals, according to a CSP Daily News article.
Merchants must adopt chip-card technology to avoid liability.
The study also found an increase in credit card fraud.
Southeast Petro holds tightly to its values. Honesty, mutual respect for others, consistency, hard work, and dedication are just a few values held in high importance by our company. Family values, integrity, and ingenuity fuel the valued partnerships Southeast Petro has with its customers.
We’re here provide you with the tools for success in the fuel industry. Whether you need a trusted fuel supplier or want to start your own business, it’s time to get in contact with us.
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Summit has grown up in the family business. He formally started working for Southeast Petro in 1998 after graduating from Tulane.
“I love the business and working to make Southeast Petro the jobber of choice for our dealers, who I consider our partners, and working toward mutually profitable partnerships.”
Summit is the Vice President, responsible for overseeing the day to day functions of Southeast Petro’s wholesale and retail businesses including acquisitions, development of new sites, operations, financing, and working with major oil suppliers.
Rashmi met Mike in their home country of India where they married in 1971. She has stood by Mike’s side through the struggles of building a business from the ground up, working seven days a week as well as raising their two children, Summit and Monica.
Mahesh Shah, better known as Mike, and his wife Rashmi are the patriarchs and founders of Southeast Petro. Starting with purchasing their first gas station and convenience store in 1980, they have built Southeast Petro into what it is today.
Mike was born and raised in a small farm village in Pavi Jetpur, India, where he gives his father and grandparents homage for teaching him early on about hard work and how to treat others. He married Rashmi in 1971 after earning a degree in architecture from Maharaja Sayajirao University of Baroda.
