Mastercard has unveiled a fleet fuel payment service that's designed to reduce spend by integrating fuel and maintenance monitoring available on connected vehicles into the fuel payment process.
Mastercard’s new service is designed to streamline the fuel payment process, eliminate human error, and provide fleet managers with greater transparency and control for fuel spend, according to the Mastercard. U.S. Bank’s fleet will pilot these new features.
With the new service, fleet vehicles that attempt to refuel will automatically register vehicle data such as location, odometer, and fuel gauge readings when arriving at a fueling station. Drivers will be able to refuel at the pump without having to manually enter their data, according to Mastercard.
If a driver spends more on fuel than what is required by the car, both the fleet manager and the driver can receive an alert, according to the company. Fleet managers will also have the ability to add customizable controls that allow a driver to use the card for purchases other than fuel.
The U.S. Bank pilot will also feature Mastercard dynamic spend controls to enable real-time permissions for per-diem and lodging approvals and unexpected repairs at a designated service station.
Originally posted on Fleet Financials