How does a fuel card work?
A fuel card is a card that a driver carries with them while they’re on the road to pay for fuel and other authorized purchases. While fuel cards are popular for owner-operators, they can also be beneficial for fleets (local, over-the-road or a mix of both) by helping save money, improve security and streamline operations.
Benefit #1: Savings
The first perk that draws companies to a fuel card for their fleets is the ability to save money. Most fuel card programs offer discounts off the cash price of diesel, and some even offer savings on maintenance and point-of-sale items.
By using a fuel card program for your company drivers, it’s easier to enforce the company spending policy. Most fuel card options for fleets allow you to set spending limits or controls based on the type of product, dollar amount, time of day, etc., so your employees don’t overspend or buy things they shouldn’t with company funds.
Benefit #2: Security
As your fleet grows and drivers come and go, it’s important to protect your bottom line. Supplying each of your drivers with a fuel card through the same program allows you to view their spending through real-time transaction monitoring. Want even more details? Fuel card programs like the Mixed Fleet card from RTS Carrier Services allow you to set up alerts based on certain behaviors such as overspending, off-hour purchases, etc.
Since cash is difficult to track, using a fuel card also reduces the amount of theft and loss companies experience with cash purchases of fuel. Plus, the contactless payment option of a fuel card reduces potential contact with card skimmers at the pump, helping to avoid fuel card fraud.
Benefit #3: Streamlined Operations
When you use the same fuel card for your entire fleet, including both gasoline and diesel vehicles, you’ll see a major improvement in your business operations, because:
- The contactless card is easier and faster than cash for drivers to use at the pump.
- Easy transaction tracking means you don’t have to collect receipts from drivers.
- The RTS Mixed Fleet card is accepted at 95% of gas stations and 2,000+ truck stops.
With the custom reporting features, you can:
- Track your entire fuel spend in one place.
- View a daily savings report.
- Analyze fleet fuel efficiency.
- Compile IFTA reports quickly.
And when you use the RTS Mixed Fleet card, you can use the free RTS Pro web and mobile app to find:
- Fuel and maintenance discounts based on location or route.
- Free credit data on shippers/brokers.
- Exclusive freight through Ryan Transportation.
Overall, providing your entire fleet with the same card no matter the type of vehicle will offer you vast improvements in savings, security and operations.
If you’re ready to streamline your fueling, contact RTS to get started.