Ensuring the security of your fleet’s fuel expenses is imperative in today’s fast-paced society. As a result, fuel cards have emerged as a reliable solution, offering businesses a plethora of security features that can safeguard their resources, minimizing and eradicating the risk(s) of unathourised spending.
But how do fuel cards help to increase security?
1. Pin Protection: Fuel cards are equipped with pin protection, adding an extra layer of security to each transaction. This ensures that only authorized personnel can use the fuel card(s), helping to mitigate the risk of fraudulent transactions.
2. Card Expenditure Limits: When using fuel cards, businesses have the flexibility to set transactional and expenditure limits for each card. Limits can be set on products purchased, what time of day cards can be used, and fuel volume. This grants businesses greater control over fuel expenditure, better resources for budgeting and prevents over spending and unapproved purchases.
3. Fraud Prevention: Fuel cards are designed to flag irregular spending patterns, which can help you to identify and prevent fraudulent activity. By closely monitoring transaction (through our bi-weekly invoices and online account management), businesses can detect suspicious activity and take the necessary precautions to reduce risks.
4. Online Account Management: A standout feature of our fuel cards is the ability for businesses to manage their accounts online. This provides real-time visibility into fuel expenses, whereby transactions can be tracked, card limits can be set and fleet activity can be monitored anytime, anywhere. If a card is lost, this can be reported and cancelled immediately via our online account portal.
5. Increased Efficiency: Through utilising fuel cards, manual admin and paperwork requirements are reduced, assisting in streamlining HMRC and fuel tax refund processes. This is because fuel card invoices and online account management provides accurate data, removing space for human error.
Fuel cards provide a fantastic array of security features that safeguard your fleet’s expenses, protecting your business from potential threats. From pin protection to expenditure limits, these security measures offer peace of mind, and can ensure that your business continues to operate efficiently in today’s dynamic business landscape.