Corporate payment company WEX has launched a fleet fuel card tailoredto smaller businesses.
The new WEX FlexCard features revolving credit and wide acceptance, according a May 6 press release. Additionally, small businesses who use the card will receive driver ID tracking to avoid unauthorized spending and real-time viewing of purchase transactions.
It's also a retention play for WEX, which contends petroleum fuel partners can expand revenue sources.
Nearly half of businesses operating costs are fleet related and about half of that is for fuel, said Peggy Watson, WEXs vice president of North America fleet product and marketing, in the release. This customized solution addresses small businesses need for cash flow flexibility.