The Intevacon Fuel Network continues to grow each month as more issuers sign up and more transactions are exchanged. For petroleum marketers who have never been exposed to networking, we know that it can be scary to open the doors for your customers to get fuel elsewhere. But our more seasoned customers have learned from experience that the Intevacon Fuel Network is a welcome opportunity for profit.
Our issuers have realized that when their cardholders travel outside of their scope of business, their only option is to find fuel elsewhere. So those issuers have started to proactively find sites on the network to help their cardholders continue to use their current fleet card instead of having to find other methods of payment.
That’s what happened with one of our customers in the midwest. Partner’s Fuel* had a cardholder who was looking for sites offering CNG, which Partner’s did not offer. So Partner’s Fuel reached out to Intevacon to see how the network might help. Pretty quickly, we were able to connect Partner’s Fuel with CNG America*, offering sites convenient for the Partner’s Fuel cardholders to fill up.
Partner’s Fuel is able to provide a service to their cardholder, and they retain the fleet business with a 2.5% margin on all fuel. This is business that Partner’s Fuel otherwise would have lost, and their cardholder could potentially have adopted a completely new fleet solution in his search for something that served all of their needs.
In 2017, over $26,000 of CNG product has been purchased as a network transaction between these two petroleum marketers. Partner’s Fuel is able to settle with a 2.5% profit, and the merchant is guaranteed 97.5% on his fuel. We are excited to see how this relationship grows for Partner’s Fuel and CNG America. There are more and more network relationships popping up like this around the nation, and we love to be able to facilitate business for our customers.
If you want to find out more about the Intevacon Fuel Network, reach out to us at 678-739-4450 or firstname.lastname@example.org.
*names have been changed