Fiserv and BP crack down on illegal vape sales at U.S. store locations

Regulation
โดย Seeking Alpha·Read original
Summary · why it matters

Payments platform Fiserv and service station operators including BP have warned their U.S. partners and store owners not to deal in illegal vapes or risk heavy fines, according to notices seen by Reuters. A coalition of state and city law enforcement officials is pressuring shippers, e-commerce platforms and payment networks to clamp down on a booming market in illegal vapes worth nine billion dollars or more in annual sales. Backed by attorneys general from states including California, Illinois and Arizona as well as authorities from New York City, the District of Columbia and Puerto Rico, the crackdown has already helped secure a ban on vapes by Shopify and prompted Mastercard to warn its partners it would investigate if they enabled illegal vape transactions on its network. BP wrote in an undated notice to its gas station operators that Mastercard has begun issuing compliance violation notices to merchants for processing sales of illegal electronic nicotine delivery system products, and that selling illegal vapes also violates a store's agreement with BP. Gas station operators Marathon Petroleum and Valero issued similar notices warning that Mastercard or similar firms could issue mid-six-figure fines for a single violation or revoke card processing services, with Valero's notice dated June 17. CardConnect, a payment technology provider and subsidiary of Fiserv, issued a notice to its partners stating that vape sales must comply with all relevant laws or risk corrective action, and that it would send a message warning all merchants using its services not to sell vapes lacking authorization from the U.S. Food and Drug Administration.

Impact on stocks 7

Digital Finance & Tokenization▼ · 3 stocks
Mastercard Inc
MA
▼ NegativeRegulationrelevance

Mastercard is investigating and issuing compliance violation notices for illegal vape transactions, potentially reducing transaction volume.

Fiserv, Inc.
FISV
▼ NegativeRegulationrelevance

Fiserv subsidiary CardConnect warned partners against illegal vape sales, risking fines or loss of processing services.

Synthetic Biology (non-pharma)▼ · 2 stocks
Marathon Petroleum Corp
MPC
▼ NegativeRegulationrelevance

Marathon Petroleum warned gas station operators about fines or loss of card processing for illegal vape sales.

Valero Energy Corporation
VLO
▼ NegativeRegulationrelevance

Valero issued a notice warning of mid-six-figure fines or revocation of card processing for illegal vape sales.

Energy Transition & Power Demand▼ · 1 stocks
BP PLC
BP
▼ NegativeRegulationrelevance

BP warned its gas station operators that selling illegal vapes violates store agreements and could lead to penalties.

Cloud & Digital Infrastructure▲ · 1 stocks
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