If you’re not sure about the benefits of fuel cards for your business operations and expect that electric vehicles will replace all other vehicles soon, then you might be surprised to learn that the European fuel card market is growing and is currently estimated to reach $264 billion by the end of 2024 and $374 billion by 2025. The reason is that people are increasingly preferring to use cashless payment means and fuel cards offer a number of important benefits for businesses. Here are just a few:
Preventing fraud – A fuel card is able to operate on a chip and pin basis and when used for refuelling, can even be set up to run an automatic registration check on the vehicle. Some fuel card systems offer real time updates, transaction details and even the ability to block a transaction if it’s believed to be fraudulent. All of these measures provide peace of mind for the security of a business.
Set prices – With set fuel prices, businesses are able to budget for the week or month ahead in terms of fuel costs. For Allstar Fuel Cards, visit Fuel Card Services, suppliers of Allstar Fuel Cards
Convenience – Fuel cards are often free and multiple cards can be used for a fleet of vehicles. With thousands of participating forecourts, drivers know exactly where they can go for fuel, saving time and money.
Admin reduction – With fuel cards, there is no need for keeping piles of receipts as everything is easily invoiced online. This also helps to provide managers with information on expenditure, fuel use and easily apply for VAT rebates, for example.