As a fleet card processor, about 45% of Intevacon’s transactions are diesel, and about 52% are regular gas. The value of the fleet card is that business owners can restrict products so that only business-related purchases are made with the card.
But we anecdotally hear from our petroleum marketers that their fleet card customers walk inside to make personal purchases at the beginning of shifts or at the end of a long day. NACS research indicates a decline of inside sales for the convenience store industry at the end of 2023.
Fleet card customers make frequent high dollar transactions each time they fill up their vehicles. This produces a great opportunity to create inside sales with personal payment while the vehicle is fueling. From what we have heard from our petroleum marketers, inside sales is a fleet card perk that isn’t captured on the fleet card. We hope to see the industry numbers increase in 2024 as more cardholders make inside sales.