US Bank on Sunday, Oct. 7, introduced a new Over-The-Road credit card optimized for fleet management across the country.
Kurt Adams, president of corporate payment system for US Bank, and Max Fuller, chief executive officer and chairman of U.S. Xpress, unveiled the new card at the American Trucking Associations’ Management Conference & Exhibition in Las Vegas, Nev. The new MasterCard is based on a system initially developed for U.S. Xpress and now will be offered to fleets nationwide. This move was facilitated by US Bank’s acquisition of TransCard’s Class 7-8 fuel card program in July.
Adams said the new card offers best-in-class fraud controls and gives fleet managers full control over pricing parameters and vehicle and driver behavior while implementing standard anti-fraud measures that eliminate opportunities to manipulate data and enable fuel theft. “We spend about $400 million a year on diesel fuel,” Fuller said. “Even if we can bring just 1 percent of our losses to fraud under control, we’re saving a huge amount of money.”
The new MasterCard can be used at more than 230,000 retailers across the country and is designed to give fleet managers easy access of critical data points such as vehicle mileage and unit number, driver identification, active trip data and instant verification of fuel expenses upon completion of a trip.
The new US Bank OTR fuel card is available now.