Ms. Amanda Mills reports

ELEMENT PAY HELPS FLEETS SAVE MORE ON FUEL AND PREVENT UNNECESSARY SPENDING

Element Fleet Management Corp. has launched Element Pay, a cardless payment solution from Element Mobility that helps fleets maximize fuel savings, prevent fraud and eliminate physical fuel cards.

Fuel is a major fleet expense, but traditional payment methods make it difficult to prevent unnecessary spending and fraud. Element Pay changes that by giving fleet managers greater control over where drivers fuel, what they purchase, how much they spend and the time they spend managing payments.

Crown Capital, a management company for roofing-related businesses, has reported 15-per-cent overall savings using Element Pay. The company also identified $150,000 in potential fraudulent spending over 90 days and reduced the time spent helping crews resolve fuel-payment issues by 25 per cent.

"Our crews need to stay focused on their work, not on sorting out fuel cards or payment issues," said Joel Vazquez, director of fleet operations, Crown Capital. "Element Pay has helped us reduce those interruptions, save time and gain better control over fuel spending."

Making every fuel payment an opportunity to save

Unlike conventional fuel cards, Element Pay uses the vehicle to initiate and authorize direct-pay transactions. The vehicle is the payment.

With this vehicle verification technology, Element Pay brings fuel savings, fraud prevention and spending controls directly into the payment process, helping fleets prevent unnecessary costs before they occur, rather than simply identifying them afterward. The solution combines digital payments, spending controls and real-time transaction information to help fleets:

• Maximize fuel saving: Guide drivers to lower-priced fuel stations, set spending limits and reduce unnecessary purchases. With drivers choosing higher-priced stations approximately 20 per cent of the time, fleet managers can pro-actively restrict purchases at expensive locations, including the 10-per-cent most expensive stations, to help avoid overpaying at the pump.
• Prevent fuel fraud: Link purchases to vehicles, block unauthorized transactions that fail applicable vehicle verification and spending requirements, and flag suspicious activity. Up to 12 per cent of fuel spending could be at risk of fraud, highlighting the opportunity to prevent unnecessary spending before it occurs.
• Eliminate fuel cards: Use vehicle-authorized digital payments to replace physical fuel cards, reducing lost-card issues, PIN problems and card-management costs. Element Pay can deliver up to 5.5 times the savings associated with traditional fuel cards, based on illustrative fleet savings estimates.
• Save time and resources: Onboard new drivers in seconds, without waiting for physical cards to be mailed or distributed. Digital receipts and automatic reconciliation also reduce the time fleet, and finance teams spend matching purchases, managing paperwork and resolving payment issues.

"Every fuel purchase is an opportunity to save money, but too often fleets don't have the tools to act before that money is spent," said Oliver Hahn, head of Element Mobility. "Element Pay changes that, making it easier for clients to control costs, prevent unnecessary spending and see the results in their bottom line."

A smarter, simpler way to pay for fuel

Element Pay connects fuel purchases directly to vehicles rather than physical fuel cards. Drivers can pay through the Element Pay app using direct pay or tap to pay at supported stations.

With direct pay, the vehicle initiates and authorizes the transaction following the required verification checks. A driver cannot independently authorize a payment without the associated vehicle being authenticated. Tap to pay provides an additional digital payment option where direct pay is not available.

Behind the scenes, fleet teams can see transactions in real time, set spending rules, and automatically match digital receipts to purchases to identify unauthorized activity and reduce admin work. Connected vehicle data can provide additional checks, but telematics is not required.

Element Pay currently provides access to more than 85,000 supported fueling locations across the United States.

Element Pay will bring broader vehicle-based payments, with future applications across maintenance, tolls, violations, EV (electric vehicle) charging and other vehicle-related expenses.

About Element Fleet Management Corp.

Element Fleet Management is a global leader in intelligent fleet and mobility solutions. Guided by the company's purpose to move the world through intelligent mobility, Element Fleet helps clients manage the vehicles, data, technology and decisions that keep their businesses moving. Fleet is the company's foundation, and intelligent mobility is how the company leads. By combining deep fleet expertise with connected technologies, data-driven intelligence and strategic partnerships, Element helps clients lower total cost of ownership, improve uptime and driver experience, and build more resilient operations. Element manages over 1.5 million vehicles globally and leverages this scale and data to help clients optimize performance, identifying over $1.7-billion in cost savings opportunities across the company's clients' fleets in the past year. Through Element Mobility, the company is advancing its leadership into the next era of intelligent mobility to deliver measurable business outcomes for the company's clients.

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