Through this collaboration, digital companies focused on serving the fleet management ecosystem can now enhance their product offering by issuing Visa fleet and fuel cards that contain more definite product category level controls, more detailed data, and the ability to obtain data more quickly for real-time business decisions, building a new generation of payment rails for the fleet vertical.
The fleet and fuel management sector saw innovation in the years following the height of the pandemic, with venture capital funding for startups in the sector almost doubling between 2020 and 2022. A rapidly growing new generation of innovative fleet-focused software servicers has emerged, solving challenges from last-mile delivery to road-freight marketplaces. Seeking to deliver even greater value, many of these companies are realising the need for an equally modern card issuer processor that offers the data richness and controls needed to help streamline their customers’ operations.
Visa’s officials said they’ve seen an increase in the scale and pace of technology development in the fleet management sector in the past few years. Through their extended work together, Highnote can now offer customers Visa fleet and fuel cards to help them streamline operations and open new opportunities.
The benefits of Highnote’s Visa fleet and fuel cards include:
Spend controls: Highnote’s platform enables fleet management software providers to issue cards with custom spend controls, meaning a card authorised only for fuel purchases can also be programmed to allow for food purchases during a certain window of time, for example;
Helps reduce fraud: Access to real-time data means cards can be turned off when suspicious activity arises and collaborative authentication means advanced telemetry can be programmed into the card itself, ensuring purchases are only made at approved locations;
Enhanced data: Visibility into deeper levels of data, such as type of fuel, number of gallons, and price per gallon, means companies can more quickly input information into enterprise resource planning systems;
Direct ledger access: Advanced ledgering capabilities can provide a greatly enhanced level of detail on the fleet business’ day-to-day spend.
Commenting on the news, representatives from Highnote stated that they’ve always believed in building for today and for tomorrow, no matter the industry. It just so happens to be a good time to be in the fleet industry today, because it’s at the cusp of a massive transformation geared for tomorrow. Highnote in good at moving faster, being more modern, and putting more data and control into the hands of creatively-minded companies on a mission to push innovation to the edge. They’re happy to enable these disruptors together with Visa in the fleet vertical.
Highnote is a modern card issuer-processor and programme manager, purpose-built to realise customer loyalty and engagement through embedded card experiences. Its fully integrated tech stack provides every service needed for innovative companies to launch new ways to use card payments. Utilising the developer-friendly Highnote platform, product and engineering teams at digital enterprises of all sizes can easily and efficiently embed virtual and physical payment cards (commercial and consumer prepaid, debit, credit, and charge), ledger, and wallet capabilities into their existing products, creating compelling value for users while growing revenue and building a unique and differentiated brand.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now