WHITE PAPER Reimagine fuel payments with digital fleet cards
Learn how Fillip Fleet, a Visa Global Fintech Fast Track Member, is innovating in the Fleet and Mobility space by simplifying the tracking and management of employee fuel and vehicle expenses.
Closed loop fleet cards offered by many fuel brands present certain limitations that can make them difficult for small businesses to implement:
Flexibility
Traditional physical fleet cards are produced at a central location based on instructions from the fleet and are subsequently distributed securely to drivers in various locations. This process typically takes several days to weeks.
Security
Security risks continue to impact fleet operators. A large proportion of plastic fleet cards currently in circulation do not include the more secure EMV chips and are especially prone to fraud-related activities including card cloning and skimming.
Acceptance
Many fleet cards are designed for limited acceptance; they tend to be accepted only at a restricted network of merchant locations, such as the gas stations from a particular brand.
Fuel can be a significant expense item for any organization managing vehicles. Employers in small to medium sized business in Canada look for opportunities to give their drivers a simple way to pay for fuel, while simultaneously managing the associated costs and risks of these transactions.
The white paper examines potential limitations of current fleet payment solutions as well as the particular needs of small and medium-sized business fleets. Taking Fillip and the Canadian fleet card market as an example, the paper outlines the innovations and impacts of digital payment solutions in fleet and considers the ways in which digital fleet cards could play a central role in the future development of vehicle fleets.
INNOVATIVE TECHNOLOGY SOLUTIONS
As B2B payments go digital, virtual cards are virtually unmatched ➔
The power of partnerships in LAC ➔
Helping travel take off again ➔
Report: Capitalizing on the potential in virtual cards ➔
How Financial Institutions can reduce friction and drive value in the payments system ➔
Moving beyond payments execution and into collaborative commerce ➔
Delivering simpler, more transparent B2B cross-border payments ➔
HERO CONTENT
©Copyright 2023. All Rights Reserved. All brand names, logos and/or trademarks are the property of their respective owners.