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WEX Closed Loop Fleet Cards 9 лет назад


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WEX Closed Loop Fleet Cards

Learn why WEX's Closed Loop Fleet Cards may be the perfect fuel card solution for your business. Closed Loop Cards work for both small businesses and large businesses, at all WEX fleet card locations. Full Transcript: Closed Loop Fleet Cards offer inherent advantages that their counterparts, generic bank cards, do not. That's because they were built with business use in mind. Bank cards were built for consumer use, and can typically be used for any purchases. Fleet cards can limit purchases by product category, like fuel, for specific dollar amounts. The Fleet can limit use by days of the week, or times of the day. Don't take our word for it - hear what other fleet managers have to say. WEX's closed loop network has really helped us combat our fraud potential. When we were with a competitor, it was a generic credit card based system, and we saw a definite spike in the number of fraudulent transactions. We also weren't able to always control what the drivers were purchasing. One of the things that benefits us is the closed loop program aspect of WEX and that we only authorize fuel purchases (on an average month) of two and a half million dollars worth of purchases we might have 300 dollars worth of non-fuel purchases. That really helps us control our overall expenditures, so that we know the money we're spending with WEX is actually going into the tanks of our vehicles. When we switched to a competitor, they were offering us a slightly larger rebate than what we were receiving from WEX. Reporting got so bad, that I actually had to have them email me each report so I could double-check it. And you look at that, you know, we're not saving any money at all because we're taking so much more time to get information that we need.

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