Fleet Card Facts
There are an estimated 650,000 fleets in the U.S. for a total of nine million vehicles.
Currently, fleet cards are the fastest growing segment of MasterCard’s business.
Most fleet cards offer valuable and robust reporting/management tools
The tools can track mile-per-gallon variances, driving patterns, fuel purchases, calculate various tax exemptions and more.
Global fleet card company FleetCor has been selected by CITGO Petroleum Corp. to provide fleet card processing and program management services for the company’s fuel cards.
“As with any such strategic relationship, CITGO diligently reviewed all available options for providing branded fleet card products to our marketers and consumers,” said Jonathan Watson, CITGO’s manager of business services and payment cards. “FleetCor has been an innovative partner for the past four-year contract, and from our recent review in the market, there was no one better positioned to continue to move CITGO’s fleet card capabilities forward.”
FleetCor serves more than 750,000 business fleets and more than 3.5 million cardholders in North America, Europe, Asia and Africa. It’s programs are marketed under numerous brand names, including CCS, CFN, FleetNet, Fuelman, The Fuelcard Company, Keyfuels Mannatec and Smart.
“Since winning the CITGO business from a competitor in 2004, FleetCor has worked hard to earn the respect of CITGO, its branded marketers and the end customers of its branded fleet card program,” said Bill Schmit, president of FleetCor’s Private Label Division. “By focusing on fleet card programs, FleetCor is able to drive the innovation required in the quickly evolving market for fleet card programs. CITGO’s selection to remain working with FleetCor validates our strategic view for the business.”