Streamline Fleet Payments with Lithic

June 25, 2024

Matt Ruhland

Sr. Product Manager

We are excited to announce the launch of Fleet Cards on Lithic- a tailored, secure, and data-rich solution to fleet payments.

With Lithic fleet cards, businesses can manage their fuel, maintenance, and other vehicle expenses efficiently through an advanced, open-loop card program customized specifically to meet complex fleet management needs.

The Opportunity in Fleet Payments

In 2023, fleets in the US spent an estimated $93.5 billion on card payments for fuel, maintenance, and other associated expenses according to Javelin. Despite this significant spending, many fleets still rely on non-fleet cards or traditional closed-loop fleet products for their expenses. These traditional options usually restrict usage to specific fuel and maintenance locations, causing inconvenience for small and large fleets alike.

In contrast, fleet cards launched with Lithic offer a flexible solution for businesses that want the fraud prevention, spend controls, and enriched data benefits of a fleet card without the inconvenience of traditional card offerings.

Key Features of Lithic’s Fleet Cards

With Lithic fleet cards, businesses can enhance their workflows with:

• Customized Physical Cards: Configurable purchasing restrictions and POS data-entry prompts tailor the cardholder experience to precisely fit the needs of a wide variety of fleet use cases.
• Enhanced Authorization Messages: Fleet cards provide enriched authorization data, including vehicle ID or driver ID, allowing an additional layer of decision-making and fraud prevention.
• Detailed Clearing Data: Fleet transactions include enhanced Level 2 and Level 3 commercial data, such as vehicle odometer readings, fuel type, and tax information. This data is available via webhooks and API endpoints, facilitating automated compliance with tax programs like IFTA while providing insights into fuel efficiency and cost management.

Why Choose Lithic’s Fleet Cards?

• Fraud Prevention and Spend Management: With features like fuel-only restrictions and detailed transactional data, fleet managers can prevent unauthorized spending and gain better visibility into their fleet’s expenses. This new fleet data enhances the strong fraud prevention capabilities already enabled through Lithic Auth Rules and direct Auth Stream Access.
• Seamless Integration: Lithic’s new fleet card functionality integrates smoothly into the existing Lithic card APIs, making it easy for businesses to harness fleet data for internal or external applications.
• Open-Loop Convenience: Unlike traditional closed-loop cards, Lithic’s fleet cards can be used at any gas station that accepts card payments, offering greater flexibility and convenience for fleets of all sizes while not compromising on functionality.

Get Started with Lithic’s Fleet Cards

Lithic’s fleet card product is now available to all customers. Explore our fleet documentation or contact us to learn more about how your program can improve fleet payments and capture new business opportunities on Lithic.