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. 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. So, vehicle manufacturers naturally are putting a lot more R&D into these models, as we are seeing now in longer travel ranges and higher demand for charging stations. We love to see fleets leaning in to the future, because that demands more of us as suppliers. We see it as a growth opportunity with tremendous innovation and competition. However it shakes out, we obviously want the trusted partnerships we’ve developed with our customers over time to survive this transition many fleets will be making. While issues remain – How do you process an EV charge? How do you invoice it? How do you marry that data stream to your liquid fueling reports, or your telematics data? – WEX is close to being able to deliver a fueling experience at an EV station that’s identical to the experience they get with traditional fuels. That’s our goal: EV charging stations that not only accept WEX Fleet Cards, but protects and reports on the transaction in the way only WEX has been able to over the period of nearly 40 years. EV is available in spots now. The typical early adopters – huge commercial fleets, government agencies and other organizations with mandates – are using it now. We think pervasive, commercial EV charging will be available to commercial fleets anywhere certainly within the decade.
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. 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...
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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