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Geotab Unveils Fleet Card for Enhanced Fuel Cost Management

In a move set to redefine the fuel expense landscape for commercial fleets, Geotab, a prominent name in connected operations and AI-driven insights, has introduced the Geotab Fleet Card. This innovative financial tool was developed in collaboration with AtoB, a fintech company focused on modernizing payment systems within the transportation sector. By merging AtoB's payment network with Geotab's telematics data, the fleet card aims to optimize fleet management while providing substantial savings.

As fuel prices continue to soar across the United States, the need for effective cost-reduction strategies has never been greater. Steven Berube, Vice President of Sales at Geotab, stated, "With fuel costs rising across the U.S., fleets need practical ways to reduce what they spend at the pump." The design of the fleet card focuses on linking vehicle data with payment methods, effectively limiting unauthorized fuel purchases, which is a significant issue for fleet operators.

Combatting Fuel Fraud

Unauthorized fuel transactions can lead to excessive costs for fleet operators. For instance, in a typical scenario involving a 500-vehicle Class 8 fleet, the annual fuel expenditure could be around $31.3 million, with unauthorized purchases potentially accumulating to $2.19 million of avoidable costs. Unlike traditional fleet cards that merely respond to fraud alerts post-transaction, the Geotab Fleet Card implements real-time dynamic authorization to proactively prevent unauthorized purchases from occurring. When a driver attempts a fuel purchase while parked at a gas station, the system evaluates the vehicle's location against the merchant's coordinates and checks if the fuel tank has sufficient capacity for additional fuel. If the conditions aren't met, the transaction is automatically declined.

Moreover, for accounts that qualify, transactions validated through the Geotab Fleet Card's dynamic authorization system come with a fraud guarantee of up to $250,000. This guarantee ensures that fleets can engage in transactions without the lingering concerns of fraud, as long as they meet the necessary criteria.

Maximizing Savings at Fuel Stops

Fleets can also unlock considerable savings through access to wholesale discounts at over 34,000 fueling stations nationwide. The integrated Geotab Drive app allows drivers to pinpoint the nearest and most affordable fueling stations, encouraging more financially-conscious fueling decisions rather than simply following routine choices. Given the fluctuations in fuel prices, knowing where to refuel at better rates can significantly impact a fleet's overall expenditure. Geotab's analytical research found notable discrepancies in diesel prices—up to 77 cents per gallon can separate two trucks fueling at different stations within the same city, translating to potential savings of up to $58 on a standard 75-gallon fill-up. The combination of the Geotab Fleet Card discounts and the Geotab Drive app provides fleets with a valuable tool for informed decision-making on fuel purchases, buffering the impact of increasing diesel prices.

Integrating Finance with Fleet Operations

The Geotab Fleet Card functions under the administration of AtoB and its banking partners, offering a comprehensive platform for managing fleet expenditures. Cardholders can also track various spending categories through the Geotab platform, which encompasses 11 on-road expense categories, covering everything from maintenance and tolls to vehicle rentals and freight services. By providing customizable control over spending by dollar amounts, time frames, and merchant categories, fleets can allow drivers a versatile card that accommodates a broader range of purchases. Additionally, activating and utilizing the Geotab Fleet Card incurs no monthly fees, allowing fleets to benefit without hidden costs.

Currently, the Geotab Fleet Card is available for eligible fleets in the United States. Interested parties can learn more about this innovative solution by visiting the official Geotab webpage.

About Geotab

A global leader in connected operations, Geotab serves more than 100,000 customers worldwide, ranging from small businesses to extensive governmental organizations. Managing around 6 million vehicles and assets, Geotab processes over 100 billion data points daily, all aimed at creating a safer, more efficient, and sustainable future for fleet operations. For more information, visit Geotab or follow the company on LinkedIn to stay updated on their latest advancements and products.