Press Releases

Fleet Cards Still Have Room to Grow in the U.S. Commercial Credit Card Market According to New Research Report

August 2, 2024         By: Payment Week

Fleet cards are part of the broader commercial credit card market, but fleet card is a unique product set designed for defined industry segments where managing the expenses of automotive and trucking fleets has been the primary target. In a new research report, The U.S. Fleet Card Market Still Has Legs, Mercator Advisory Group reviews the current market size and discusses the consolidation of the major network players. The report addresses evolving needs of commercial fleets and some technological innovations allowing them to gain more benefits from card. The current position of the major networks supporting fleet cards in the U.S. is analyzed, and the report’s author identifies key factors with an impact on the fleet market now and into the future, providing insights on variables that concern fleet executives.

In the new research report Mercator Advisory Group delves into the market drivers and opportunities along with possible headwinds that challenge a payments industry segment dominated by several key competitors.

“The fleet card industry is an esoteric space, dominated through gradual consolidation by two major closed-loop players. In order to continue their growth and hedge against fuel-centric revenue bases, the companies are pursuing broader payments and payables strategies, including international expansion and increasing open-loop presence” commented Steve Murphy, Director of Mercator Advisory Group’s Commercial and Enterprise Payments Advisory Service,author of the report. “However, the fleet business in the U.S. still has some room for transaction growth through flexible business models, new technology, and further program penetration into the non-adopter market areas through targeted segmentation,” he added.

Highlights of the research report include:

  • Overall commercial card volumes and how fleet cards fit in the picture
  • Breakouts of both closed-loop and open-loop network share
  • Market forces that support continued fleet card demand
  • Potential longer-term impact of alternative-fuel vehicles

The document is 17 pages long and contains 7 exhibits.

Companies mentioned in this research Viewpoint include: Fleetcor, Fleetmatics, Geotab, Greenroad, MasterCard, Omnitracs, Teletrac Navman, Trimble, TSYS, U.S. Bank/Voyager, Visa, and WEX.

Members of Mercator Advisory Group’s Commercial and Enterprise Payments Advisory Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
Please visit us online at www.mercatoradvisorygroup.com