Gas Pos offers a plug-in upgrade module and SaaS to retrofit existing fuel dispensers so independent retailers can meet the EMV (chip card) mandate without full AFD replacement. The solution targets roughly 60,000 independent gas stations that lack viable options for costly pump replacements and is described as the only SaaS solution available for the fuel industry to address these challenges. Gas Pos says its approach eliminates upfront capital expenditures for merchants and instead charges a small monthly fee, helping customers avoid $25,000–$150,000 pump replacement costs and saving an average of $100,000 in immediate capex. The company also positions its product as a way to combat an estimated $400 million in payment fraud across gas stations and convenience stores caused by card duplication. Gas Pos was selected for the 2018 Venture Center FinTech Accelerator and joined a technology startup program run by the Arkansas Economic Development Commission. With recent funding, the company plans a national rollout to bring its affordable upgrade solution to independent retailers.

Total raised

$1M

Funding rounds

1

Latest round

Equity

Latest activity

Nov 2018