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Payment: the new connected fleet service
Fuel cards represent the largest of the 5 sectors assessed in our Connected Fleet Services report with supplier revenues in Europe and North America estimated to grow to $22 billion by 2025. However, it is also the market with the slowest predicted growth, at 2% CAGR, due to fierce competition, disruptive new entrants and the effects of fleet efficiency initiatives such as platooning, freight sharing and electrification.
Total and E-ZPass have become the latest in a growing list of fuel card and fleet service providers to develop new payment solutions, thus delivering new solutions to their customers and changing the user experience.
Through innovations such as Telepass Pay, E-ZPass Pay, Total eWallet, BPme or Shell Fill Up & Go, we can see how although still leading the way, fuel card issuers will increasingly compete with providers beyond their traditional markets to deliver payments and services to both fleets and individual consumers.
As we explore in our Connected Fleet Services and ETC global study, service providers from markets such as ETC, telematics, fuel cards and, of course, OEMs, are looking for ways to capture additional mobility related spend.
Winning the battle to deliver mobility payments and services will not be won alone and will require partnerships that leverage the skills, competencies and data sets of each provider. This has already been proven by both the fuel card issuers, who are increasingly partnering with the likes of PayPal, Apple and Google in the consumer world. Other service providers are following suit by embracing payments specialists such as Verdeva and Zahlz to compliment their existing portfolio.
As part of our 825 page Connected Fleet Services Global Study, we have a dedicated section on fuel cards and fuel payments. This includes an examination of partnerships between: BMW/Total, DKV/Q1/Zahlz, UTA/Fleetboard and many more.
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