Q. Is fraud control improving with the newest generation of fleet cards?
A. Fraud control is a partnership between industry and suppliers like WEX who want to make it easier to control all costs, including unauthorized ones...
A. I think you will get both. It’s going to take a lot of time to change to just one solution.
Think about the day when you used to go through a toll booth and you handed somebody money. Then we moved to the basket where you threw the cash in. And we moved to E-ZPass. But there are still toll booths that have all three of them.
If you think about that, if you think about the replacement cycle of vehicles, if you think about the replacement cycle of POS devices, you’re 10 to 15 years out before we’ll be at the point there’s a critical mass to move to just one solution.
In that interim period, you might have some vehicles that may issue payments, some mobile devices that issue payments and you may still have a card as a backup, because the device may not be able to register, you may not have cell coverage. I think there will be a slow migration.
In the end, there will still be a need to track the asset. So there’s still a benefit to connect to the vehicle. Same for diagnostics. So it might go the other way, where all my address book is in my dash, so why wouldn’t my payments be there as well? So the car could have access to the phone’s payment solution. The car becomes the gateway.
Senior Vice President and General Manager
A. Fraud control is a partnership between industry and suppliers like WEX who want to make it easier to control all costs, including unauthorized ones...
A. Right now, they can’t. That’s why you don’t see this application in the market – and probably won’t for a while. Within a decade you might see some sort of real-world application, but it’s still early...
A. Demand for EV charging is definitely growing. EV sales in the U.S. increased 21 percent from 2016 to 2017, with 26 consecutive months of year-over-year increases...
A. Many are. Because of the vast increase in computing power, we now carry in our pockets the ability to do almost everything our old desktop computers did, with fewer exceptions every day...
A. Fleets are primed for technological change for sure, but it’s right to ask: When the future fleet arrives, will it be an improvement?...
A. The biggest challenges -- the ones that are holding back market innovations -- are technical...
A. Sanity. While the road to future fleet will be paved with partnerships, it will be dominated by data. Lots of it...
A. The single biggest mistake we see is to view parts of your fleet operation independent of each other...
A. Saving money at the pump can simply mean changing a few habits before you get behind the wheel. For example, fixing a vehicle that’s in need of...
A. Alternative-fuel and electric vehicles have been the talk for a few years now. As technology continues to advance, we’re seeing more trusted auto brands producing fuel alternative options. Audi, Porsche, Cummins and even Harley Davidson have all entered the alternative fuel market. Some OEMs and consumers are...
A. The in-vehicle technology now available has ushered in a paradigm shift in the way we view cars — no longer just as a means of transportation or as an asset, but as an information platform. You still need to...
A. Applications such as DriverDash, the evolution of fleet fuel cards that came out last summer, create controls that can reduce fraud incidences and other problems that can occur as a result of fuel transactions. Companies that use WEX fuel cards are also helping to prevent...
A. Exchanging data across national lines can be difficult because some countries have laws that prohibit this, for various reasons. But there are plenty of ways to share aggregated data. Our ClearView technology offers...
A. If someone told you 10 years ago you would be able to pay for things with your phone, or your dashboard, you wouldn’t have believed it. Fast-forward to 2019, and the technology...
A. In 2016, WEX acquired Electronic Funds Source LLC (EFS), a provider of customized corporate payment solutions for fleet and corporate customers with a focus on the large and midsized over-the-road (OTR) segments. As EFS became a part of the WEX family, it’s helped diversify WEX’s payments offerings, adding...
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