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. 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. The future of the connected car, and how it shakes out in the world of fleet, rests on two big dependencies. One is the ability of connected car players to make meaningful business partnerships. That’s easier said than done. Especially where you have an emerging technology that everyone wants to own, division of intellectual property is but one barrier to bringing multiple vendors together to find a workable solution. Throw government regulations into the mix and it’s anyone’s guess as to when we will see this technology in real time. The other dependency is simply the issue of data security. Companies without a pedigree guaranteeing the sanctity of customer data may find trust is a serious barrier to entering the autonomous vehicle market. At WEX, partnerships and data security have been intrinsic to our tech development since 1983. We couldn’t develop, own and operate a closed-loop network – accepted at more than 95% of all U.S. fuel and maintenance locations -- if we didn’t have the cooperation of multiple players along the way: individual service stations, Big Oil, plastic vendors, Point-of-Sale developers and many more. And we wouldn’t have been able to win the trust of hundreds of thousands of customers through the years unless we had a solid reputation for responsible data capture, thorough analysis and reporting, and helpful customer service in a pinch. So, while it’s early, WEX fully expects to be a player in the connected car space. We think about it this way: WEX Fleet Card transactions are already secure on plastic. Let’s just remove the plastic and turn the car into the card. We’re working on it.
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. 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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