PEACHTREE CORNERS, Ga.--(BUSINESS WIRE)--Mar 13, 2019--Comdata, a FLEETCOR company (NYSE: FLT), and leader in corporate payment innovation, today introduced a new Mastercard portfolio that offers expanded purchase capabilities and simplifies expense management for businesses. Additionally, the company announced that its strategic partnership with P97 has resulted in its first mobile fuel customer transaction through the Mastercard network.
The Comdata Mastercard portfolio supports FLEETCOR’s Beyond Fuel initiative which addresses the payment needs of businesses by controlling broader purchasing categories including maintenance, construction supplies, travel and general expenses. The refreshed Mastercard portfolio offers a streamlined experience by enabling both fuel and non-fuel related expenses with a single payment solution while retaining employee spend controls.
Core to the portfolio is the Comdata Business Expense Card. Tailored to the needs of small-to-medium sized businesses, the Comdata Business Expense card is intended for managers and employees in the field responsible for buying goods or services for a business, such as supplies, equipment, meals, etc. The card serves as a companion to a business’s existing fuel cards with the same cost, control and convenience benefits along with consolidated invoicing. The card also allows more flexibility for individuals within a business trusted to make purchasing decisions.
The Comdata Business Expense Card has had success with commercial and residential service professionals, including general contractors, HVAC technicians, plumbers, electricians and more. Replacing the BuilderPro card, Comdata Business Expense Card offers more savings through a simplified rebate structure to provide cash back on supplies and all other non-fuel purchases, with no caps.
In addition, since forming an alliance in 2018, FLEETCOR and P97 have worked closely to provide FLEETCOR customers the ability to pay at the pump with a mobile device and recently processed its first mobile fuel transaction. The companies together have expanded the P97 application capabilities to include a fuel card within the app’s digital wallet, allowing it to be used virtually for convenient payment at the pump.
“The Mastercard portfolio relaunch combined with the early success of our P97 partnership is an exciting development for us as we continue to expand our payment products,” commented Steve Greene, President, NA Local Mastercard, FLEETCOR. “Our Beyond Fuel initiative continues to gain traction and we look forward to growing new product sales in the coming months as we formally roll out the enhanced portfolio.”
“We are excited to bring the same great benefits of our industry-leading fuel and maintenance card programs to businesses that rely on the purchase of other goods and services,” commented Jay Guadagna, Vice President, Product, FLEETCOR. “The new Comdata Business Expense card allow employees to spend more freely within adjacent categories while enabling management to maintain the control and expense reporting convenience they’ve always enjoyed. Our pilot programs have already shown incredible results with our customers.”
Comdata Inc., a FLEETCOR company, is a leading provider of innovative payment and operating technology that drives actionable insights from spending data, builds enhanced controls and positively impacts its clients’ bottom lines. The company partners with more than 30,000 businesses to better manage $55B in annual fleet, corporate purchasing, payroll and healthcare spending, making it one of the largest fuel card issuers and the second largest commercial Mastercard provider in the United States and Canada. Founded in 1969 and headquartered in Brentwood, Tennessee, Comdata employs more than 1,300 professionals across North America. To learn more about Comdata, Inc., visit www.comdata.com.
FLEETCOR Technologies (NYSE: FLT) is a leading global provider of commercial payment solutions. The Company helps businesses of all sizes better control, simplify and secure payment of their fuel, toll, lodging and general payables. With its proprietary payment networks, FLEETCOR provides affiliated merchants with incremental sales and loyalty. FLEETCOR serves businesses, partners and merchants in North America, Latin America, Europe, and Australasia. For more information, please visit http://www.fleetcor.com/.
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CONTACT: Investor Relations
Jim Eglseder, 770-417-4697
KEYWORD: UNITED STATES NORTH AMERICA GEORGIA
INDUSTRY KEYWORD: ENERGY OIL/GAS UTILITIES OTHER ENERGY PROFESSIONAL SERVICES BANKING FINANCE
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PUB: 03/13/2019 08:00 AM/DISC: 03/13/2019 08:01 AM