A fuel card is a card that businesses can use to purchase fuel and other vehicle-related expenses. Unlike traditional credit cards and debit cards, a fuel card has been designed specifically for fleet management. For example, it has customisable purchase controls (restrictions) and enhanced data reporting capabilities that are used by businesses for auditing and tax reporting purposes.
A fuel card helps businesses control a fleet’s total spend each billing cycle, whilst identifying operational efficiencies for a business. Furthermore, a fuel card can help protect, manage and optimise a fleet management’s expense budget.
What are the different types of fuel cards?
Multi-brand fuel cards - WEX Motorpass
A multi-branded fuel card, such as the WEX Motorpass, can be used at a wide range of branded and independent service stations. By choosing a multi-branded fuel card, the cardholder isn’t bound to a specific fuel station brand. This allows for more choice when filling up the vehicle and saves time and money in the long run because it’s quick, easy and convenient to find a participating fuel station.
Single-brand fuel cards
Single-branded fuel cards limit the cardholder to a specific service station network. Drivers are often inconvenienced when searching for a specific fuel station to refill and could end up spending time and petrol trying to locate a service station their card can be accepted.
A multi-brand fuel card, like WEX Motorpass, brings convenience to businesses and their drivers through the wide acceptance network. The acceptance of a WEX Motorpass fuel card, for example, is impressive. It can be used at over 90% of Australian retail service stations – that’s over 6,000 sites across Australia. These include BP, Ampol, Woolworths, Mobil, 7-Eleven, Coles Express, Shell, Liberty, and a number of independents.
Drivers can use the fuel card at most service stations meaning there is no time wasted trying to find a service station that accepts the fuel card.
Greater control and reduced risk
Fuel cards can implement customisable transaction controls (restrictions) which allow businesses to control what expenses are made with each fuel card. These controls help businesses prevent unauthorised transactions, control budget spending and ensure the fuel cards are only used for the approved transactions.
Reduced internal administration and improved business efficiency
WEX Motorpass fuel cards are also accompanied by enhanced data and reporting of the purchases and expenses. These in-depth and streamlined expense statements allow businesses to track their expenses to easily make informed business decisions as well as report their vehicle expenses in accordance with the Australian Tax Office requirements.
A WEX Motorpass fuel card provides exclusive access to a wide range of benefits and fuel discounts with our industry partners. This includes access to exclusive deals with accommodation, taxis, tyres, vehicle services, parking, and more. Your WEX Motorpass card is working hard for you on and off the road.