Mannatec introduced a new full service private label fleet card program for petroleum marketers. The new program brings simplicity, growth and cost savings opportunities versus previously available self-service private label programs.
“This is a turnkey program for independent petroleum marketers and retailers where Mannatec does all the work”, says Ed Hong, vice president of marketing for Mannatec. “While the cards, statements and reports are branded with the marketer’s branding, Mannatec provides all the processing and servicing including receivables ownership and bad debt.”
Previously available self-service private label programs typically require additional hardware and software both at the store level and at the home office. Furthermore, the marketer is responsible for card production and day-to-day account administration. With the high price of fuel, marketers are increasingly concerned about the bad debt and receivables costs of self-service programs. Consequently, many marketers either do not offer or do not aggressively market a private label fleet card program for their customers.
“Given the simplicity and low cost, dozens of marketers have already converted existing self service private label programs to the Mannatec full service program to profitably grow their fleet card volume,” added Benton Routh, president of Mannatec. “Mannatec is a leader in the private label fleet card business, and we’ve taken advantage of the capabilities of our parent company, FleetCor, to bring this world-class private label fleet card program to petroleum marketers at a low cost.”
Marketers have already been pleased with the full service new program.
“We didn’t grow the self service program we had with Mannatec due to the cost and complexity of site hardware and software and dealer settlement issues,” says Ernie Capwell, account executive of Sayle Oil Co. in Charleston, Mississippi. “With the new program, we are extending acceptance of our Gas Mart Stores card to both our company-operated and dealer sites. Mannatec handles all the administration, holds the receivables and absorbs the bad debt, so we can spend our time cultivating customer and dealer relationships that grow our business.”