Q. What are the newest data analytics tools in fuel management?
A. Data visualization is probably the hottest trend in fuel management right now...
A. Mobile fuel payments are more secure than the physical card swipe because, with mobile, there’s no physical contact between the card and the fueling terminal. So, there’s no way for the information on your card to be swiped, so to speak.
That’s the short answer. The longer answer is we’ve actually perfected the card swipe to massively cut down on counterfeit fraud. So, swipe is still good. And chip, which is also coming, will provide card payments with even more enhanced security.
Mobile payments are really an evolution of all the payment control technology that went into swiped and chipped fleet cards. In other words, with mobile, you still are able to control transactions by day, dollar amount, vehicle, and dozens of other variables. You still get great reporting that lets you see trends. You can still capture receipts electronically.
But mobile will get you additional security benefits over the card, such as biometric controls on a driver’s phone that prevent card sharing, odometer readings that are much more accurate, a transaction that’s not dependent on the card being at the pump, so there’s less chance of card loss or mismanagement, and more.
We like to say WEX Fleet DriverDash – now accepted at 25,000 Exxon, Mobil and Shell stations nationwide, with additional acceptance announcements coming soon – is the “next evolution of your fuel card.” That’s because it borrows so much core technology, particularly around Level 3 data and transaction authorization, from our proprietary WEX acceptance network that has more than 95% acceptance nationally.
Senior Vice President and General Manager
A. Data visualization is probably the hottest trend in fuel management right now...
A. I think we always want to collect more data. Our partners and customers expect that from us...
A. Absolutely. That’s becoming a huge need in the marketplace...
A. Fraud is definitely a big issue for companies managing their fuel costs. One of the biggest issues is...
A. We are in the electric space today. We’ve got acceptance at a number of charging stations, including ChargePoint...
A. Today’s fleets are considering all types of fuels — and robust reporting on these transactions is a must...
A. Absolutely, and fuel cards are a key control...
A. Level 3 data capture is one of the fundamental ways fleet operators are able to better identify and more effectively rein in costs...
A. Fuel cards help businesses fuel their vehicles, document and analyze those fuel purchases, and limit exposure to unauthorized purchases...
A. Not all fuel cards are the same. Here are some popular criteria that fleet managers use when selecting a card program...
A. Fuel cards were designed to make it easier for businesses to pay when they fuel their vehicles. As fuel cards became more sophisticated, they also began offering businesses discounts and rebates plus the ability to track and analyze fuel purchases, creating the ability to control costs, making it easier to track expenses and enhance the bottom line without carrying cash or relying on inaccurate manual data entry.
A. We have 10.5 million WEX fuel cards in circulation worldwide...
A. We start off with basic levels of consumption: usage, trends, when they’re buying, where they’re buying. Then we’ll drill down a bit deeper to say...
A. Established in 1983, we are an industry leader known for developing technology that pioneered the closed-loop, proprietary fuel card network...
A. Not any time soon. There’s a deadline of 2020, but...
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