US Fleet Card Market: The Need for Competitive Differentiation

  • ID: 3088521
  • Report
  • Region: Global, United States
  • 28 Pages
  • Mercator Advisory Group
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Seeking Market Share Through Differentiation in a Highly Penetrated and Competitive Market
New Report Examines the State of the US Fleet Card Market

Fleet card networks in the United States operate in an increasingly competitive environment. Closed-loop and open-loop networks are looking for ways not only to compete for greater purchase volume in a highly penetrated market but also to differentiate their offerings in the evolving commercial payments landscape.

The research report, US Fleet Card Market: The Need for Competitive Differentiation, looks at the fleet cards in the context of commercial card segments and examines key network providers and strategic drivers for growth in 2015 and beyond.

"The fleet card segment represents an intriguing way to look at challenges across the broad spectrum of commercial payments,” comments Richard Hall, author of the report. “While closed-loop networks continue to maintain significant market share advantage in the United States and provide customers and merchants with incentives, Mercator Advisory Group anticipates that slower growth in overall fleet purchase volume will cause key providers to begin to find new forms of innovation in order to differentiate their offerings.”

Highlights of the report include:

- Market sizing estimates for fleet cards in relation to other commercial card segments
- Breakdown of market estimates for open- and closed-loop fleet card providers
- Key segments within the fleet card segment
- Overview of leading fleet network providers
- Strategic considerations for fleet network providers
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Executive Summary

Introduction

Market Sizing

Fleet Program Compliance
- Authorization Controls
- Data Capture

Fleet Card Networks
- WEX
- Comdata
- FleetCor Technologies
- U.S. Bank / Voyager
- MasterCard and Its Issuers
- Visa and Its Issuers
- Merchant Acceptance

Fleet Card Market Verticals
- Corporate Fleets
- Federal Government Agencies

Opportunities for Growth
- Local Fleets
- OTR Fleets
- Ancillary Services

Strategic Considerations for the U.S. Fleet Card Segment
- FleetCor Acquisition of Comdata
- Payment Data Integration
- Real-Time or Faster Payments
- The Role of Open-Loop or Network Fleet Going Forward
- The Impact of Protracted Lower Fuel Prices in the U.S.

Appendix: Network Operators: Descriptive Summaries
Endnotes

For more information about this report

Figures and Tables

Figure 1: Fleets Cards Account for Less than a One-Fifth of Purchasing Volume for the Commercial Card Market
Figure 2: Fleet Cards Continue to Show Modest Growth from 2011 to 2014
Figure 3: Data Capture Increases Policy Compliance and Savings
Figure 4: Closed-Loop Networks Link Relationships with Operators and Merchants
Figure 5: WEX Led All Fleet Networks in Purchase Volume in 2014
Figure 6: The Merger of FleetCor and Comdata Will Challenge WEX for U.S. Fleet Dominance
Figure 7: Corporate Fleet Programs Outspend Government Counterparts
Figure 8: The Merger of FleetCor and Comdata Materially Impacts Market Share Distribution for U.S. Fleet Cards
Figure 9: Typical Settlement for Closed-Loop Fleet Transactions May Take 30 Days

Table 1: 2014 Fleet Network Summary Statistics
Table 2: The Vast Majority of Class 1-5 Truck Fleets Remain Company Owned
Table 3: U.S. Bank/Voyager Is the Largest Fleet Network Provider for the Federal Government
Table 4: The U.S. Postal Service Accounts for 54% of the Federal Government Fleet Purchase Volume
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