Custom Fleet, the Australian fleet leasing and management division of GE Capital, and FleetCor Technologies, Inc., a global leader in fuel card payment technology and program management, today announced a long term arrangement to provide an enhanced fuel card offering in Australia.
Under the agreement, Custom Fleet will outsource the operation of its Fleet Card, a multi-branded fuel card product, to FleetCor. Fleet Card has acceptance in over 6,000 fuel merchant sites across Australia as well as over 7,000 non-fuel merchant sites providing automotive services such as tyres, repairs and maintenance. FleetCor will also be assigned responsibility for maintaining and enhancing this network of merchant relationships.
Currently there are approximately 94,000 Fleet Cards on-issue. The majority of these cards are retained by Custom Fleet's fleet management and leasing customers who will benefit from enhanced product features as FleetCor transitions Fleet Card to its Global FleetNet platform. A smaller proportion of the card base will be assigned to FleetCor who will be focused on strengthening these customer relationships and growing the size of the Fleet Card base.
FleetCor's Chairman and Chief Executive Officer Ron Clarke said, "Fleet Card is an outstanding brand in the Australian fuel card market with near universal merchant acceptance. Establishing an Australian platform will allow FleetCor to support Custom Fleet's fleet customers as well as market the Fleet Card offering more broadly to a wider audience."
Andrew Egan, General Manager for Custom Fleet Australia said, "We are excited to be working with FleetCor to provide our Custom Fleet customers with an enhanced fuel card offering. This long term arrangement will leverage the strengths of both organisations, and we look forward to working with FleetCor to roll out a range of product enhancements to our fleet customers as part of Custom Fleet's commitment to growth and excellence in the Australian market."
Financial terms of the arrangements have not been disclosed.
About GE Capital
GE Capital Australia and New Zealand is a specialist financial services provider and part of the global GE Capital business, which operates in 55 countries around the world. With 4,600 employees and $16 billion in assets locally, GE Capital offers unique financial solutions such as fleet and equipment finance, personal loans, retailer solutions and credit cards, corporate finance, inventory finance and insurance services.
For more information visit www.gecapital.com.au . Twitter @GECapitalAus.
About Custom Fleet
Custom Fleet is part of GE Capital, one of the world's leading automotive financial services and fleet management companies. Globally GE Capital supports a fleet in excess of 1.5 million vehicles, in 22 countries. In Australia and New Zealand, Custom Fleet offers expertise in fleet management and leasing across both passenger and commercial vehicles for large and small fleets. Custom Fleet is a significant distributor of the Fleet Card product.
For more information visit www.customfleet.com.au.
About Fleet Card
Fleet Card is an established leader in the Australian fuel card industry, offering fleets the benefit of flexibility, control, and value. Fleet Card offers an easier way to pay for fuel and servicing, and is accepted at over 6,000 participating multi-branded fuel outlets and over 7,000 motor dealerships and repair centres around Australia. There are three Fleet Card products available to customers whether a vehicle is financed through Custom Fleet or not; the fuel and oil only Fleet Card (Blue Card), the fuel and repairs Fleet Card (Orange Card), and the fuel and vehicle repair authorization Fleet Card (Gold Card).
FleetCor is a leading global provider of fuel cards and workforce payment products to businesses. FleetCor's payment programs enable businesses to better control employee spending and provide card-accepting merchants with a high volume customer base that can increase their sales and customer loyalty. FleetCor serves commercial accounts in North America, Latin America, Europe, and Australia.
For more information, please visit www.fleetcor.com.
GE Capital Australia and New Zealand