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Fleet cards are also known as fuel cards in some regions. Both the terms are hardly new for anyone now as most automotive businesses now accept such cards for a number of related services. These services might include fuel-purchases, car washes and other automobile related services and products. People deem these cards as credit cards, yet there is substantial difference.
As a matter of fact, the automotive industry is undoubtedly one of the fastest growing and highest grossing industries around. From a showroom to a workshop, it has brought a plethora of employment opportunities. However, one cannot deny that in automotive industries the competition is also one of the toughest as compared to other businesses. Due to this competition, businesses related to automotive industries always strive to offer the best to their customers. They try to lure the majority of customers through quality and excellent customer services.
When it comes to customer services, the benefit of accepting credit cards is undeni
able. Yet, not every business can expect the same amount of benefits from a credit card unless they get one that suits the nature of their business. Fleet cards can be considered as credit cards for the automotive industry. By accepting fleet cards, businesses can enjoy several benefits that credit cards alone won’t be able to offer. Let’s have a look at a few of them.
First of all, the major benefit of accepting fleet cards is the same as accepting credit cards for any other business. You are offering your customers benefits from your product or service without having to pay cash.
When driving a car, many unexpected situations can occur. Your customers will have the convenience of driving straight to your place of business before dropping home to pick up some cash. Not to mention, such unexpected situations can bring you new customers every single day.
Many organizations, both government and private, are now offering fleet cards to their employees. This means, there is a huge wave of potential customers already waiting for you to accept their business.
Fleet cards are more secure as they require a PIN based authorization along with other information to verify the validity of the charge. This reduces the risk of fraudulent transactions.
Also, in most automotive businesses, the customers are usually present during a transaction. This reduces the risk of fraud. That is why the discount rate is often lower than credit cards.
The payment terms of fleet cards are shorter than credit cards.
Fleet cards usually offer discount prices to the customers. Customer do not have to pay cash out of their pockets and wait for reimbursements are more inclined towards businesses that accept fleet cards rather than just cash or standard credit card or check payments. The customers, essentially, love the idea of making payments on the go. Therefore, you must also prepare your business to be able to accept payments on the go.