Fuel Smarts

WEX to Launch Chip-Based Fleet Card in 2019

November 14, 2017, by Paul Clinton

Photo courtesy of WEX.
Photo courtesy of WEX.

WEX Inc. will begin offering a more secure chip-based payment card to its fleet customers in 2019 and plans to test the new card in 2018, according to the company.

The WEX chip card will come a year ahead of the payment industry's planned liability shift in 2020 to transfer responsibility to merchants, which will need to replace their point-of-sale hardware at the pump to enable the acceptance of chip cards.

The new card will meet the payment industry's EMV (Europay, MasterCard and Visa) standard and will include a microprocessor chip that stores and protects cardholder data in a more secure way than existing cards that use a magnetic stripe.

With the new card, WEX will offer a closed-loop fleet card, meaning the company handles the entire process of the payment chain. WEX offers a host- rather than card-based model of payment card that allows commercial users to manage controls — such as purchase levels, products that can be purchased, and number of transactions per day — without having to issue new cards.

The chip card will also allow fleet managers to set 14 different prompting options — up from eight on the current card — that asks drivers to input odometer readings, miles per gallon, driver identification numbers, and other data at the pump.

The new card will offer companies "greater flexibility for customizing the data," said Bernie Kavanagh, senior vice president and general manager of North America large fleet and strategic relationships for WEX.

"We believe our customers deserve a thoughtfully designed product – not off-the-shelf technology," said Kavanagh. "WEX has designed a premium chip with additional layers of security, which leads current technology and sets a new industry standard."

Comment On This Story

Name:  
Email:  
Comment: (Maximum 10000 characters)  
Leave this field empty:
* Please note that every comment is moderated.

FleetFAQ

Public Fleet Tracking And Telematics

Amin Amini from Verizon will answer your questions and challenges

View All

Recent Topics

Hi everyone! Just wanted to remind you about fleetDOCs, our library of fleet-related documents. Users can upload any relevant fleet...

View Topic

Hello, We are a County Fire District and presently have above ground fuel tanks at 26 Fire Stations. We would like to install an...

View Topic

Fleet Documents

1055 Fleet Documents (and counting) to Download!

Sponsored by

A vehicle chassis completed by adding specialized equipment.

Read more