How Axlerate prepaid fleet cards benefit fleet managers and drivers?
In the logistics industry, managing expenses is a complicated task as most of the transactions take place while the vehicles are off premises and involve payments for fuel, maintenance, parking, tolls, food, lodging and other fleet or driver related expenses. There are a number of benefits of prepaid expense cards. Axlerate prepaid fleet cards benefit fleet managers and drivers by unifying expenses where the cards are loaded with funds and can be used for purchases without the need to carry cash. Moreover, the transaction limits can be set and notifications are sent via SMS or digital reports.
Axlerate fleet debit cards provide customized controls with organization level settings, fund transfer options to request and add money while also enabling card block and card lock features for enhanced control, productivity and accessibility.
Why are customized controls essential for individuals and organizations?
TomTom’s global study investigating the most pressing issues for fleet managers has revealed that almost half of all fleet managers have at least one employee spending 43% of their time on expense management. Customized controls in prepaid expense cards help to streamline expenses for multiple trucks and drivers based on their needs.
As per a report by NTDPC, about 75 per cent of the trucking firms own a small fleet of less than 5 trucks. By utilizing the individual level settings, fleet managers can allot funds and set transaction limits for each truck. In case of multiple trucks with the same requirement, organization level settings in fleet expense management cards help to set the default limit for all the trucks with a single click thereby saving time.
What is the need for a card lock feature in prepaid fleet cards?
Mercator Advisory Group’s consumer survey report, reveals that in 2020, 25% of consumers reported incidences of debit card fraud, highlighting the need for improved security measures. One of the ways to prevent fraudulent transactions is to enable a card lock feature in fleet debit cards. Axlerate prepaid fleet cards give cardholders the ability to take control of their accounts with a convenient built-in lock system. When a card is lost, fleet managers or truck drivers can lock the card for a brief period of time to prevent unauthorized purchases until the card is found. In the event of the card not being found or stolen, then the card can be permanently blocked and a new card will be issued.
Understanding fund transfer options in fleet expense management cards
Fleet debit cards require frequent recharge for each driver wallet so that they never have to deal with shortage of funds while on the trip. However, fleet managers recognize the difficulty of monitoring and recording every truck driver’s wallet balance. To counter this challenge, prepaid fleet cards from Axlerate provide truck drivers or card holders with the option to request money from their administrators or fleet managers whenever they require without having to make a call or drive back for more funds. They can simply request funds at the click of a button and the administrators will be notified instantly.
Let’s Wrap Up!
Fleet expense management cards help to unify fleet expenses including parking, repairs, food and lodging during a trip. Fleet debit cards can be loaded with funds to enable cashless purchases and prevent fraudulent transactions by receiving instant notifications. You can buy Prepaid fleet cards from Axlerate that give you advanced control, with organization-level settings that let you customize fund transfers and access by requesting or adding money whenever needed and taking advantage of the card block and lock features for improved efficiency, security, and ease of use.
Axlerate is a unified platform for Logistics and transport management, payments and services. Our solutions help to simplify tolls, fuel purchases, fleet expenses, loans, insurance, escrow, payments, truck booking, fleet management and the buying and selling of logistics products and services.
