A few weeks ago we compiled five case studies describing the success of our customers and illustrating how the Intevacon system has benefited their businesses in different ways: increasing repeat business, reducing swipe fees, capturing more diverse customers, and gaining back control of customer accounts for future growth.
Below is a featured case study highlighting an issuer using both fleet and prepaid cards. To view the complete case study series, click here. We’ve changed the names of the petroleum marketers and left out any identifiable details in each of the case studies.
CASE STUDY: GROWING PREPAID BUSINESS TO MATCH 35% OF FLEET DOLLARS
The Intevacon Prepaid card was made available in the fall of 2013, and adoption of this alternative form of payment has been growing each month. Intevacon has one customer in the southeast who has been using the Intevacon system with a consistent number of fleet users since October of 2011. Clairmont Petro Brothers offered their fleet users the benefits of online account access to the system, but they decided not to offer any special pricing.
Towards the middle of 2013, Clairmont Petro Brothers started noticing that while they were able to maintain their fleet business, a lot of cash users were going across the street to use a competitor’s prepaid card. The timing was perfect for Clairmont Petro Brothers to start using the Intevacon Prepaid card in concert with the Intevacon fleet card. Both fleet and prepaid card transactions can be accessed and managed through the same Intevacon web portal. With pricing for the Intevacon prepaid card starting at $20 per month, this was an easy decision.
Since October 2013, Clairmont Petro Brothers have focused on growing their prepaid business to the unbanked customers in their community. The convenience of offering a card that can be loaded with cash and then used at the pump or at the register is a big selling point to their customers. The prepaid card is sold for $0.50 and then it can be reloaded as many times as the customer wishes.
In the last month of transactions for Clairmont Petro Brothers, they loaded $52,000 onto prepaid cards and sold $99,048 in fleet transactions. This means that 35% of the transactions processed in the last month through Intevacon were cash payments made by loyal customers.
There are a number of reasons that fleet programs vary in robustness, but the two most common attributes of our most successful fuel marketers are:
- They actively recruit fleet business.
- They manage their cash flow with their invoicing so that they can self-fund larger dollar volumes.
Our goal is to help our marketers grow their business and enhance their relationships with their customers. We’d love to point you to a list of our references if you want to have a conversation with someone whose story is similar to what you read in one of our case studies.