The Intevacon Fuel Network continues to grow each month, as more petroleum marketers sign up to participate and more cardholders exchange transactions at network sites.
It’s a process as we get sites online and coordinated, but it’s been so rewarding to see the connections being made and cardholders fueling where they do business. We recently heard from one of our customers in South Carolina who needed to provide a fueling opportunity to one of his biggest cardholders 2.5 hours away. Instead of losing the business, we connected him with one of our participating network sites. Now, the issuer makes a guaranteed 2.5% on every foreign transaction, and the merchant gets to keep 97.5%, which is better than he was getting with credit card fees.
There are no network fees or special requirements to join the network. By utilizing the network, you maintain your cardholder loyalty, even if your cardholders travel to network sites. When your cardholders are traveling, which some inevitably will do, they have to purchase fuel somehow. If you can’t offer an alternative, they will use another form of payment to pay for their fleet needs. By utilizing the network, you are able to provide a service to your cardholders who travel while also making a profit of 2.5%.
If you want to find out more about the Intevacon Fuel Network, reach out to us at 678-739-4450.
The Intevacon fleet card system is unique in that our petroleum marketers have a direct relationship with their cardholders, and each parameter of our system is customizable according to our individual petroleum marketer’s business rules. The Intevacon system is a reflection of years of experience in this industry, plus the expert feedback from our customers.
Intevacon is successful when our customers are successful, and we know that tightening the window of receivables can help keep your fleet business growing and profitable.
Below are four areas that can be controlled for optimum billing practices.
- Billing cycle: a shorter billing cycle keeps total receivables at a manageable number and decreases risk
- Payment Terms: shorter payment terms ensure that you are paid quickly and that your receivables are kept in check
- Finance Charges: for payments that are not made in a timely manner, you can set the finance charge rate, and apply it to delinquent customers
- Credit Limits: set credit limits on all of your customers, or on select customers to ensure that charges remain within a comfortable threshold
Intevacon petroleum marketers may choose to provide fleet card services to all different types of accounts: commercial, consumer, government, etc.–and each of these customer types presents different needs, credit risks, and business rules. With Intevacon, you can provide the best in fleet card services while also protecting your bottom line and growing your business.
The average fleet card purchase with Intevacon is 3-4 times greater than a general non-fleet card purchase. Take advantage of this huge customer base by offering a fleet card through Intevacon’s online system. To find out more about our services, contact us at 678-739-4450 or firstname.lastname@example.org.
Intevacon is in business to equip petroleum marketers with the best proprietary fleet card in the industry. We define our success by our customers’ success, and this means that we stay focused on the Petroleum Marketer. Merchants are critical to transaction volume, which one would also think makes them a big influencer in the payments cycle. Interestingly, merchants don’t always receive the priority that they merit.
Apple recently announced its much-anticipated iPhone6, complete with the Apple Pay capabilities of near field communication. Already, there is a waiting list for consumers wanting to get their hands on an iPhone 6; however, there are concerns that there may not be adequate merchants to satisfy this new purchasing tool. A NACS article titled “Apple Built It—Will Merchants Come?” notes the potential added expense for merchants to adopt a new payment system. In a Wall Street Journal article published last week, the CEO of Crone Consulting is quoted saying, “Apple has rallied the issuing bank side, but not the merchant side.”
Another article recently posted in PYMNTS.com also cites similar disregard for the role that the merchant plays when it comes to networks. In a discussion about bank-owned networks, the article says, “[…] the networks actually forgot that they had more than one customer group to serve and that was the merchant.” The world of payments is changing, and merchants seem to be doing a lot of the leg work without reaping the benefits or having any influence.
While other entities may neglect the influence and respect due to merchants, Intevacon continues to build its success on the success of our customers. There are several key elements to Intevacon’s business model which point to our commitment to serve Petroleum Marketers. Our system was designed with our marketers in mind, so we provide a system that empowers marketers to create and manage their fleet accounts according to their own business rules. We maintain that Petroleum Marketers are best fit to manage their own fleet card accounts and manage those relationships. After all, it is those relationships that cultivate loyalty and repeat business at merchant sites. We appreciate all of our Petroleum Marketers, and we commit to continue creating opportunities to help them grow in success.