Are you on the cusp of business growth? Are you enhancing your logistics service with better efficiency and productivity? Why not try a business fuel card?
It is simple and easy to use, enabling your driver to conduct payments anytime, anywhere. Therefore, with a business fuel card, you can benefit greatly from fuel payments. The card provides greater discounts and perks on each payment.
Also, it comes from location and analytics reports to track and monitor the payments and fuel consumption. That’s why it is best to use a business fuel card to handle your fuel usage.
However, before purchasing a fuel card, you should inquire about its features. In the next section, we will help you with that.
Features to Look in a Business Fuel Cards
Business fuel cards are beneficial for small businesses looking to grow their supply chain and expand their logistics service. They provide great discounts and perks to build the perfect company with the right growth and worker satisfaction. Therefore, it is wise to have a fuel card at your expense.
Here are a few features to look for in the business fuel cards:
Brilliant Customer Service
One of the first things to see in a fuel card is its customer service. Not all companies have brilliant customer service that will help you at every step. Therefore, check their customer handling both before and after the sales process.
That way, you will know if any issues come up, and you can resolve them easily. Consequently, it will give you drivers the benefit they need to use the cards properly and get good returns. Also, in case of any inquiry, you should ensure that card companies respond to you quickly and solve your issues.
No Hidden Fees
Before buying a fuel card, you should ensure that there are no hidden fees the card charges for fuel purchases. No matter the fleet size and operation, you should focus on cards that offer zero hidden charges after their usage.
Here are a few hidden charges to look for in a fuel card:
- Phone payment fees
- Credit risk fees
- Out-of-network fees
- Per-gallon administration fees
- Higher late fees for high balances
Consequently, when you are a small business, you want to associate yourself with simple payments. You don’t want to pay extra charges to the card companies. Moreover, you want to keep things simple so that your drivers can carry on with their daily activities.
Tracking and Reporting
Another feature to look for in business fuel cards is the tracking and reporting part, which can help managers reduce paperwork. The addition of automated receipts is a game changer, as the managers can easily track the movement of the trucks. This will help you move your business forward with great agility.
You should look for cards that have:
- Vehicle telematics data
- Pre-and post-trip inspection reports
- Maintenance logs
This will give the proper picture of the fuel usage and tell about the condition of the vehicle. With that report, you can make sound decisions on the issue and bring more transparency to the business process.
Real-Time Visibility
Business owners and managers always focus on the bigger picture, which comes from monitoring the business’s progress and monetary flow. That’s why you should choose a card that offers real-time purchase visibility.
This means you can easily accept or deny the payment once the card is swiped. This feature allows you to set a monitoring feature on the cards and the right fuel budget. Hence, with real-time visibility, you can increase your business’s security. Moreover, you should look for a card that has an EMV chip or added protection layer to provide better security features.
Open-Loop
Another thing to look for in the business fuel card is the open-loop features, allowing your drivers to buy fuel from every location in the UK. Restriction-free purchases will remove the hassle and ensure your drivers can smoothly transport goods. That way, drivers can pay anytime and anywhere.
The reason for choosing the feature is that most card companies have a closed-loop network. This makes their cards accessible to fewer places in the UK. Hence, it can increase idle rates and high energy consumption, as drivers have to travel far places to get fuel. So, when you choose a fuel card, ensure they have an open-loop feature in them to get the best benefits.
Discounts and Perks
Discounts and perks are the reasons why people choose fuel cards, as they give you free maintenance and keep your vehicles in check. Therefore, it is wise to choose cards that have the most benefits and offer a few dollars for each purchase. That way, you can save a large chunk of money each year on fuel.
That’s why cards offered by Visa and Mastercard look to offer more discounts to ensure your travel and business get the most benefit. Furthermore, the reward points can help your driver get the best food at the gas station and boost their satisfaction rate. So, when you choose a card, you should look for the one that offers the most discount on fuel purchases.
Better Safety and Security
Safety and security are important when you are making cash payments or digital payments, as there is a high chance of a fraud case or chance of theft. However, with the fuel card, it disappears, as the card is protected with a pin, which is known only to the driver. That way, no one can misuse the card to make a fraud payment.
Also, ensure that the card comes with an EMV chip, which will enable the company to locate you and your truck. That way, if you are having trouble, they can reject the payment once the card is swiped. Also, ensure that your card has a secondary verification process to add an extra layer of security to your card before making a payment.
Favorable Payment Terms
Another factor you should look for in a card is a favorable term of payment. This enables you to make transactions frequently and keeps your business flow smooth and easy. Most businesses like finance and logistics, where the money flow is frequent and heavy, should choose a card that fits their bill.
This is because you don’t want to pay your vendors late and wait till the next month to pay their dues. Hence, it is better to choose a card where you can make many payments in the month and keep the operations smooth and simple. So, choose wisely before selecting a business fuel card.
The Bottom Line
In the end, if you want a business fuel card, you can read the features above. That way, you can earn major benefits from the credit card and enhance your business operations and logistic service. Also, you can increase the security and safety of the drivers and the payments made in the process.
So, read the discussion to enlighten yourself and choose the perfect business fuel cards to give your business the added boost it requires. Also, you can boost your driver’s productivity and commitment to the company.
FAQs
Here are some frequently asked questions:
What are the benefits of using fuel cards?
It keeps the drivers from theft and assault.
Are fuel cards worth it for small businesses?
Fuel cards provide cost-saving options to small businesses to improve their business operations.
