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Mastercard Launches Solution For Connected Fleet Vehicles

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Mastercard has launched a new service that will automatically integrate fuel and maintenance data from a connected fleet car’s dashboard into the payment process.

The solution will eliminate the need for company car drivers to manually enter in their driver ID and odometer reading every time they use a fleet card to pay at the pump, which could lead to mistakes and overspending.

“Technology is unlocking new ways to deliver greater peace of mind,” said Kiki Del Valle, senior vice president, Commerce for Every Device, Mastercard, in a press release. “Combining digital payments capabilities with data from connected vehicles allows banks to give fleet managers a unique view into the inner workings of their business.”

With the new service, fleet vehicles arrive at a gas station and automatically register vehicle data including location, odometer and fuel gauge readings when they arrive at the pump. Drivers will then be able to refuel without having to manually enter any data.

And if a driver spends more on fuel than what is required by the car, both the fleet manager and the driver can receive an alert. Fleet managers can also add customizable controls so that a driver to can use the card for non-fuel purchases if desired.

U.S. Bank will be the first to pilot these new features.

“U.S. Bank fleet customers have been seeking ways to enhance spend control, improve security and gain more visibility — all at the very speed their businesses operate,” said Dominic Venturo, chief innovation officer, U.S. Bank. “Bringing this vision to life with Mastercard is an important next step in making their companies more efficient.”

In addition to the fueling options, the U.S. Bank pilot will also feature Mastercard dynamic spend controls to enable real-time permissions for per-diem and lodging approvals and unexpected repairs at a designated service station.

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