Fuel cards offer businesses some enormous benefits. Although a fuel card superficially resembles a credit card, they work differently, both technically and financially.

Using a fuel card

The first significant difference is the degree of control they provide to the issuing transport manager. A company can precisely specify how drivers can use the card, setting limits on the cash spent, the number of gallons or hours of use.

When the driver swipes the card at a pump, vehicle ID and odometer details feed into the system. That enables the issuer to confirm the transaction conforms with all the client’s conditions. The client can then receive an immediate invoice and details about their vehicle’s location, mileage, and fuel consumption.

Like a credit card, transaction approvals do not entail an immediate balance deduction, but, in a sense, you buy your fuel from the card issuer rather than the garage. Issuers are not in the lending business like credit card operators, which reduces transaction overheads but requires you to settle with them promptly in full.

Choosing a fuel card

There are many benefits to explore and compare.

The first is security. In addition to the chip and the PIN, the vehicle ID, location, and other details provide far more control over the card’s proper use.

The next is the administration. When transactions occur, the invoice can feed instantly into a company’s accounting package, ready for tax returns, overhead reports, balance projections, etc.

The third is the logistics. The system helps provide real-time information about mileage, location, and fuel consumption. Heavy fuel consumption combined with a late refuel could be a warning of traffic congestion on specific routes. Increasing fuel consumption might suggest that a vehicle needs an early service. This information provides opportunities to save more fuel and improve transport efficiency.

Find out how your partner FLEETMAXX SOLUTIONS can help you create better habits. Visit our web pageor call one of our experts today on 01367 704 910