Transflo Debuts Fuel Payment Management Tool for Trucking Firms
Transportation industry solutions provider Transflo has introduced a fuel payment/management solution for trucking companies.
The Transflo Wallet Fuel Card, announced in a Tuesday (Dec. 3) news release, is being launched in collaboration with TransConnect Services (TCS) and is designed to help trucking companies save on fuel costs and streamline operations.
According to the release, the fuel card offers payment processing as well as a fuel management system from TCS, with an app that lets users track fuel prices in real time and manage accounts anytime and anywhere. It also features a tool called The Fuel Finder, letting users locate in-network fuel stops, compare prices, and plot out the most cost-effective routes.
“At Transflo, we understand that fuel is one of the largest expenses for a carrier,” said Justin King, the company’s chief product officer. “With the launch of the Transflo Wallet Fuel Card and our partnership with TCS, we’re giving our customers access to a powerful solution that not only provides substantial fuel savings but also simplifies fuel management across their operations.”
The company said the card offers savings at more than 2,000 in-network fuel discount locations across the U.S., and is accepted at more than 12,000 fuel stops.
In other transportation news, PYMNTS spoke recently with Jaime Tabachnik, co-founder and CEO at Mexican FinTech Solvento, about the challenges facing that country’s trucking sector.
In Mexico, as in other countries, the industry is dominated by smaller companies, with the vast majority of the nation’s approximately 200,000 carriers having fleets with under five trucks.
It’s a notoriously capital intensive business, with cash required upfront to purchase and maintain the vehicles, to keep them on the road, with payment for delivery sometimes taking weeks or months to arrive.
“Demand is growing at a much faster pace than capacity,” Tabachnik told PYMNTS Karen Webster, particularly as there’s a driver shortage and American retailers are in the middle of reshoring and near-shoring efforts.
Meanwhile, research from the PYMNTS Intelligence “Money Mobility Tracker,” a collaboration with Ingo Payments that focused on the trucking sector — showed that 55% of trucking companies see innovating accounts payable as a crucial goal.
“The payments modernization extends to driver level, as our research shows that 2 in 5 truck drivers now use instant payments to collect their income and earnings,” PYMNTS wrote recently. “Given the option, 93% of truckers would use instant payments to receive their earnings.”
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