The Car and Truck Fleet and Leasing Management Magazine

WEX to Launch Chip-Based Fleet Card in 2019

November 14, 2017, by Paul Clinton - Also by this author

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."

Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.


Fleet Tracking And Telematics

Todd Ewing from Fleetmatics will answer your questions and challenges

View All


Fleet Management And Leasing

Merchants Experts will answer your questions and challenges

View All


Sponsored by

The specific name given in the United Kingdom to closed end leases, i.e., leases with a fixed term (24 months, 36 months, etc.) wherein the lessor assumes most risks of ownership, notably depreciation and funding, defined levels of administration, and certain expenses of licensing or registration.

Read more

Up Next

More From The World's Largest Fleet Publisher