Fleet Fuel Cards for Small Business and Corporate Use

Fuel expenses can be one of the largest operating costs for businesses, particularly those with a fleet of vehicles or employees who regularly travel for work. In the United Arab Emirates (UAE), the rising cost of fuel has significantly impacted companies' operating expenses. Fuel reimbursement expenses for UAE companies have increased by 38%, largely due to the surge in petrol prices. 

This substantial rise in fuel costs underscores the critical need for businesses to implement effective fuel management strategies. One such strategy is the adoption of fleet fuel cards.

In this blog, we’ll explore the key benefits of fuel credit cards for small businesses and large corporations, how they can optimise fuel expenses, and how you can choose the best card solution for your company. 

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What Are Fleet Fuel Cards?

A fleet fuel card is a specialised card used by businesses to purchase fuel for company vehicles, track fuel-related expenses, and improve the management of business transportation costs. While they are typically issued to businesses with company vehicles, fuel credit cards can also be used by businesses with employees who regularly travel for work. 

Key Features of Fleet Fuel Cards

• Instantly track fuel purchases and monitor fuel expenses in real-time.
• Set spending limits for different vehicles or employees to control costs.
• Accepted at various fuel stations, providing convenience for employees on the road.
• Offer real-time transaction alerts, helping businesses monitor spending and quickly address any discrepancies or unusual activity.
• Detailed reports and customisable dashboards provide insights into fuel usage, vehicle performance, and employee spending, enabling informed decision-making.
• Eliminate the need for manual work by providing businesses with a centralised platform to monitor and control fuel purchases.

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Types of Fleet Fuel Cards

Fleet fuel cards come in various types, each designed to address specific needs of businesses, from small enterprises to large corporations with extensive fleets. Below are the most common types of fleet fuel cards and their features:

1. Fuel Credit Cards

• Fuel credit cards function similarly to traditional business credit cards but are specifically designed for fuel and fleet-related purchases.
• Businesses can authorise employees as cardholders and assign individual cards to each driver.
• All cards are connected to a single business account, allowing you to receive a statement with all purchases made across the cards.
• Many fuel credit cards offer discounts on fuel purchases. Some provide cashback at all gas stations, while others offer discounts at specific in-network stations.
• Two Types of Fuel Credit Cards:
  
  • Unsecured Fuel Credit Cards: These require no collateral and are typically based on the creditworthiness of the business.
  • Secured Fuel Credit Cards: These require a deposit as collateral, making them accessible to businesses with limited or poor credit history.

2. Prepaid Fuel Cards

• Prepaid fuel cards are loaded with a set amount of money and given to drivers to pay for fuel and other fleet expenses.
• These cards can be reloaded at any time, usually through an online portal, providing flexibility.
• Unlike credit cards, prepaid fuel cards don’t require a credit check, making them accessible for businesses without established credit.
• Great for businesses with steady cash flow, as they allow for controlled spending without the risk of overspending.
• Ideal for new businesses or those with poor credit who may struggle to qualify for traditional credit-based fuel cards.

3. Branded Fuel Cards

• Branded fuel cards are typically unsecured credit cards that require a credit check to qualify.
• Like traditional credit cards, they have credit limits and interest rates on unpaid balances.
• These cards offer significant discounts on fuel purchases at the provider’s specific gas stations.
• Ideal for businesses willing to commit to a single gas station brand in exchange for fuel savings.
• Perfect for businesses that prefer a credit card structure over a prepaid card.

4. Universal Fuel Cards

• Universal fuel cards can be unsecured or secured credit cards, or prepaid fuel cards.
• These cards can be used at any gas station, providing great flexibility for businesses operating in multiple regions.
• While accepted broadly, they offer fuel discounts if used at specific in-network gas stations.
• Different providers have networks of varying sizes, with some including major brands.
• Universal fuel cards typically offer smaller discounts compared to branded fuel cards, but they provide the benefit of being accepted at a larger range of gas stations.

5. Commercial Fleet Fuel Cards

• Commercial fleet fuel cards are specifically tailored for businesses with larger fleets of vehicles.
• These cards offer more extensive features, such as detailed reporting and advanced tracking capabilities.
• Typically issued as a physical card, allowing businesses to manage fuel purchases across multiple vehicles.
• Provide detailed insights into fuel consumption, spending trends, and overall fleet performance, helping businesses make informed decisions.

6. Trucking Fuel Cards

• Specifically designed for long-haul trucking businesses, these cards cater to the unique needs of the trucking industry.
• Trucking fuel cards are widely accepted at truck stops, making it easy for drivers to refuel on the go.
• Many trucking fuel cards offer added perks such as shower credits and loyalty points, which can be redeemed for discounts or other rewards.
• These are typically physical cards, providing tangible access for drivers to use at various fueling stations.

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How Small Businesses and Corporations Benefit from Fleet Fuel Cards

Fleet fuel cards offer significant advantages for both small businesses and large corporations. These benefits help streamline fuel management, improve financial control, and enhance operational efficiency. Below are the key benefits for both small businesses and corporate use:

1. Enhanced Security and Fraud Prevention

These cards offer enhanced security with spending limits, authorised user controls, and restricted use to approved fuel stations. This reduces the risk of fraud and ensures fuel expenditures align with company policies.

2. Time Savings and Administrative Ease

Fleet fuel cards automate the fuel purchase process, eliminating manual tracking of receipts and reducing administrative workload. Integration with accounting systems ensures seamless expense recording, saving time and preventing errors.

3. Loyalty Rewards and Discounts

Many fleet fuel cards offer discounts at specific fuel stations, helping businesses save on fuel costs. Loyalty programs often provide additional perks, such as discounts on maintenance services, contributing to further savings.

4. Improved Operational Efficiency

Data from fleet fuel cards helps businesses optimise fuel consumption by identifying patterns in usage. This enables better route planning, driver training, and overall fuel efficiency, reducing long-term costs.

Fleet fuel cards provide businesses—both small and large—with tools to control spending, improve security, and streamline operations. With centralised management, real-time reporting, and cost-saving features, these cards are essential for efficient fleet management.

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Common Mistakes to Avoid When Using Fleet Fuel Cards

Using fleet fuel cards can streamline fuel management and improve cost control, but there are several common mistakes that businesses should avoid to fully benefit from this tool. Here are the key mistakes to watch out for:

1. Lack of Clear Usage Policies

Without well-defined policies, employees may misuse fleet fuel cards for personal purchases or unauthorised expenses. It’s crucial to establish clear guidelines on what is and isn't allowed, as well as spending limits and approved fuel stations, to prevent misuse.

2. Failing to Monitor Transactions Regularly

Neglecting to monitor fleet fuel card transactions can lead to unnoticed discrepancies or fraudulent activities. Regular auditing and transaction reviews are essential to identify any suspicious activity or inefficiencies and ensure that all purchases are in line with company policies.

3. Not Leveraging Data and Analytics

Fleet fuel cards generate valuable data on fuel usage, spending patterns, and employee purchases. Failing to analyse this data means missing out on insights that can help optimise fuel consumption, identify inefficiencies, and potentially save money. Businesses should make use of reporting tools to track trends and improve decision-making.

4. Inadequate Employee Training

Employees who aren't properly trained on how to use fleet fuel cards may not take full advantage of the card’s features or may misuse the card unintentionally. Providing proper training on card usage, as well as understanding reporting and expense tracking systems, ensures that employees are equipped to manage the cards correctly.

5. Ignoring Fuel Price Fluctuations

Fuel prices can vary widely, and failing to adjust fuel card limits in response to price fluctuations can cause transactions to be declined or result in budget overruns. It’s essential to regularly review and update spending limits to ensure that cards remain functional during periods of rising fuel prices.

6. Neglecting to Set Transaction Alerts

Not setting up transaction alerts can lead to missed opportunities to catch suspicious or unauthorised transactions early. Transaction alerts help businesses stay informed about purchases in real time, allowing them to take immediate action if needed.

7. Poor Integration with Other Systems

Failing to integrate fleet fuel cards with existing fleet management, accounting, or ERP systems can result in data silos and inefficiencies. A seamless integration ensures that fuel expenses are automatically recorded, reducing manual work and improving the accuracy of financial reports.

By avoiding these common mistakes, businesses can maximise the benefits of fleet fuel cards, ensuring smoother operations, better financial control, and greater savings.

Choosing the right fleet fuel card involves considering several factors:

• Evaluate your fleet size
• Estimate monthly fuel consumption
• Define your fuel management objectives
• Seek real-time monitoring, detailed reports, and security options
• Choose between brand-specific or multi-brand cards
• Look for savings opportunities like discounts and rewards
• Review fees for setup, maintenance, and late payments

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Fleet Fuel Card Providers for Small Businesses and Corporations

Below are some of the top fleet fuel card providers, each offering unique features to meet the needs of small businesses and large corporations alike:

1. Coast

• Allows use at any fuel station where Visa is accepted, offering flexibility.
• No personal guarantee required for use.
• Provides real-time tracking of fuel purchases and usage.
• Automatically records fuel usage for ease of tracking.
• Allows businesses to set specific controls and restrictions.

2. WEX

• Create detailed reports on fuel usage, costs, and more.
• Set spending limits per vehicle or employee.
• Accepted at a wide range of fuel stations, providing flexibility.
• Ability to carry over balances, though interest rates may apply.
• Earn rebates on fuel purchases.

3. Comdata

• Offers discounts on fuel depending on the location of fuel purchases.
• Provides analytics to track fuel usage, identify trends, and improve efficiency.
• Charges a monthly fee for each card issued.
• Includes a one-time setup fee for account initiation.
• Helps businesses identify the best places to fuel based on pricing.

4. Fuelman

• Offers competitive pricing on fuel purchases.
• Accepted at numerous fuel stations nationwide.
• Provides access to account data and reports online.
• Tools to monitor fuel usage and reduce inefficiencies.
• Access to additional savings programs for fleet operations.

5. EFS

• Set and manage spending limits for each cardholder.
• Enjoy discounts at participating fuel stations.
• Accepted at a variety of fuel stations and locations.
• Earn rewards and rebates for fuel purchases.
• Manage and track fuel purchases using online tools.

By considering these top fleet fuel card providers, businesses can select the best solution that aligns with their needs, offering flexibility, control, and significant savings.

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How Alaan Can Simplify Fleet and Expense Management for Small Businesses and Corporations

Alaan Corporate Cards offers a modern solution for managing fleet expenses, combining real-time tracking, automated receipt management, and category-based spend controls. Whether covering fuel costs, vehicle maintenance, or driver expenses, Alaan provides full visibility and control over your fleet-related spending—all while integrating seamlessly with your accounting systems.

• Customisable Controls: With our Corporate Cards, we allow businesses to set tailored spending controls. Whether it’s defining spending limits or restricting purchases to specific categories, our solutions ensure financial compliance and give you better oversight.

Additional benefits:

• Earn 2% cashback on every transaction, maximising your business expenses.
• Add up to 50 users to your account, providing flexibility for larger teams.
• Issue multiple cards per user, allowing businesses to manage expenses across departments.
• Make secure payments using any of these popular digital wallets.
• Receive personalised support from a dedicated expert to help manage your account.
• Access reliable customer support through chat, email, or phone.

• AI-Powered Receipt Management with OCR: Our app and Chrome extension enable drivers to easily upload fuel and maintenance receipts. Using advanced AI and OCR technology, we automatically extract and verify relevant data from the receipts, ensuring accuracy, compliance, and reducing manual entry errors while keeping your records organised and easily accessible.
• Real-Time Expense Tracking: We provide businesses with instant visibility into every transaction as it happens, enabling quick identification of spending patterns and informed decision-making to optimise costs.

• Seamless Integration: We integrate effortlessly with leading accounting software, automating the reconciliation of expenses and reducing the manual workload for your finance teams.
• Enhanced Security: Our platform includes robust security features like PIN protection, spending restrictions, and real-time alerts for suspicious transactions. We also offer the ability to instantly block or adjust card settings as needed.
• VAT Compliance Made Simple: For UAE businesses, our built-in tools automatically extract VAT details from receipts, ensuring accurate record-keeping and helping you stay audit-ready. This simplifies VAT management, making it easier to comply with UAE tax regulations.

These features allow us to help businesses improve efficiency, optimise costs, and maintain financial control across their fleet and expense operations.

Conclusion

Fleet fuel cards provide businesses of all sizes with an efficient, cost-effective solution for managing fuel expenses, streamlining procurement processes, and improving financial control. Whether you're a small business with a few vehicles or a large corporation with an extensive fleet, fuel credit cards can help optimise fuel usage, reduce administrative costs, and enhance overall fleet management.

At Alaan, we provide corporate cards with real-time expense tracking, customisable controls, and AI-powered receipt management with OCR technology. Our solutions seamlessly integrate with accounting systems, enabling us to give businesses greater control over expenses, enhance financial visibility, and improve operational efficiency.

Book a free demo today to discover how Alaan can streamline your fleet and expense management processes.