Q. Do you expect the future of fuel cards to be in mobile payment or in embedded vehicle payment?
A. I think you will get both. It’s going to take a lot of time to change to just one solution...
A. I think you see most oil companies focus on what they’re good at, what are their specialties. I don’t think that card programs necessarily need to be their specialty.
To succeed, you need to have the systems in place; you need to build scale. When you’ve got a partner like WEX -- who already has the scale and can immediately bring that and drive the operations and the sales, handle the billing and other things -- it just makes more sense to partner with somebody.
And oil companies are now focusing back on their core business. I think you’re seeing them even going further that way. The oil companies are getting out of owning the stations. Exxon Mobil made the decision a year ago to leave the gas station business. I think companies as a whole are specializing in their core business and partnering with those that do the pieces of their business that’s core to them. So it creates opportunities for WEX and others to do the processing and run the card programs for most of the major oil companies.
We have 20 to 25 oil company partners, including some of the biggest: ExxonMobil, Chevron, Sunoco, etc. Most of the oil companies are with WEX today. There’s just a small handful that are not.
Senior Vice President and General Manager
A. I think you will get both. It’s going to take a lot of time to change to just one solution...
A. I think down the road everybody probably assumes that we end up in a cardless society...
A. No, not necessarily. It may be more of a partnership opportunity as they start to get more involved in other aspects of the business...
A. Vehicles will always need to be fueled...
A. In these regions, a lot of what we do is following our customers. We are fortunate enough to have a database of more than 300,000 customers...
A. We’re getting it more from the customers. If I manage a fleet and I have a presence in 15 different countries, I have a global fleet manager that oversees it all...
A. Obviously, a partner will have more presence than an individual customer. A fleet is just one entity, whereas a fleet management partner might have 20 or 30 accounts in a given region...
A. We’re starting to see a lot of points of integration, whether that be with data or systems. Telematics devices provide a rich data set that can be utilized in a number of ways...
A. Fleet management was historically built on the foundation of data. The more data you had, and the more you could combine various data sources, the easier it was to gain insight into how your fleet is operating, allowing you to make better decisions...
A. The pace of change today is faster than it’s ever been, and yet slower than it ever will be from this point forward...
A. The single biggest mistake we see is to view parts of your fleet operation independent of each other...
A. There are many things, beyond the obvious, such as developing a written preparedness plan and training your employees to implement it so you protect your vehicles and equipment and identify which employees play essential roles during a disaster...
A. Arriving at work, Fran Fleetkeeper scans a large board with dots on a map. Some of the dots are green. Some are red...
A. Imagine waking up one day to no fuel, damaged roads, and unknown damage to your fleet of 500 vehicles. It’s the ultimate nightmare for a business with any exposure at all to mobility...
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