Car IQ & Sunoco streamline fuel payments for fleet vehicles
Fuel might be expensive nowadays, but Car IQ is looking to help fleet operators and their drivers pay for gas more easily.
The provider of vehicle payment solutions announced on Wednesday that Sunoco, one of the largest fuel distribution companies in the U.S., will accept the company’s payment solution that will allow its fleet customers an easier, more secure way to purchase fuel without the need for a credit card.
According to a news release, Car IQ Pay will be live at nearly 5,000 Sunoco branded fuel locations nationwide by the end of summer.
The firm explained that Car IQ Pay is designed to simplify the Sunoco payment process, by only requiring the driver to enter pump number, add fuel and drive away.
Car IQ Pay’s proprietary technology can allow any vehicle to communicate directly with the Sunoco pump via Carat by Fiserv, without the driver swiping a card, entering a PIN or adding the odometer reading.
Car IQ can validates the vehicle when it arrives at a fueling location, then can approves the source of funds and turn on the pump without the use of a credit card.
Once fueling is complete, Car IQ Pay can enables the vehicle to pay for the fuel and verify the fuel was received. As the driver leaves the station, payment receipt is added to the vehicle’s real-time ledger for easy fleet expenditure management.
“We are excited to add Sunoco as a fuel partner and allow fleet vehicles to connect directly to their pumps and pay for fuel. Sunoco gives our fleet customers more choice when it comes to purchasing fuel,” Car IQ senior vice president of merchant commercialization Matt Nicholson said in the news release.
“Vehicle based payments solutions are reshaping how companies manage their business operations by tying vehicle data directly to the transaction and allowing the car to connect directly to the pump, giving fleet managers more control and visibility over their budget,” Nicholson continued.
Rich Hayes is senior director of electronic payments at Sunoco.
“We want to simplify how fleets pay and eliminate the need for drivers to swipe cards, enter PINS and odometer readings,” Hayes said. “By offering Car IQ’s payment solution we can help fleet customers eliminate fraud with the use of telematics data that validates each fuel transaction.
“We strive to be at the forefront of a payment ecosystem that will provide fleet managers more control and visibility into their fleet spend and excited to work with Car IQ to service their customers nationwide,” he added.
Scott Mackay is vice president of Carat and digital commerce at Fiserv.
“In an increasingly digital world, the ability to create unified experiences is the new loyalty currency for consumers,” Mackay said. “By using the vehicle to simplify paying-at-the-pump, and digitally streamlining authentication and communication, we are helping Car IQ create a better experience for Sunoco customers.”