GE Capital Launches Trucking Fuel-Card Program With WEX
GE Capital Transportation Finance announced June 1 it has launched a fuel-card services program designed for over-the-road trucking companies.
The program will be administered by WEX Inc., which provides corporate payment solutions, and GE said the card will be accepted at most U.S. truck stops.
“We believe our customers will benefit from the rebates on fuel expenses as well as increased access to data that may not be available to small- and mid-market operators today,” said John Conkin, GE Capital Transportation’s senior vice president of sales.
“Operators can use the Fleet One OTR Fuel Card as an alternative to standard debit or credit cards, which will allow them to manage driver spending and simplify line-item reporting,” said Conkin, who also is president of the Allied Committee for the Trucking Industry, or ACT 1.
GE Capital Transportation Finance’s parent company, General Electric Co., said in April it plans to sell most of the capital unit’s assets in the next two years, although the division, which provides finance to trucking companies, said it was continuing business as usual in the meantime.
With the card, “qualified customers of GE Capital Transportation Finance can now enjoy enhanced security [and] detailed reporting . . . to help minimize unauthorized spending, “said Brian Fournier, vice president of fleet partner channels at WEX.
Publicly traded WEX, based in South Portland, Maine, formerly was known as Wright Express.
