NORCROSS, Ga.--(BUSINESS WIRE)--Jul. 25, 2013--
FleetCor Technologies, Inc. (NYSE: FLT), a leading global provider of
fuel cards and workforce payment products to businesses, announced today
that it has signed a long-term agreement with Visa Europe.
Under the terms of this new agreement, FleetCor will utilize its Global
FleetNet (“GFN”) fuel card processing system together with Visa Europe’s
EMV standard chip and PIN intelligent technology to deliver new fuel
card solutions across Visa Europe territories.
The companies plan to develop new fuel card propositions together with
the first planned implementation in FleetCor’s Allstar business in the
Allstar will be the first to offer this Visa Europe chip and PIN
technology in the commercial fuel card space.
This Allstar fuel card implementation will create new benefits for
Allstar’s commercial clients, including:
Enhanced security and fraud protection: The chip technology will make
fuel cards nearly impossible to clone
Enhanced convenience: The Allstar cards will be usable both inside the
shop and outside at the pump
Enhanced control: The cards will have improved purchasing restrictions
to eliminate the purchase of non-approved fuel grades or other
“We are excited to combine our specialized fuel card expertise with Visa
Europe’s intelligent EMV chip technology to help us further capture more
European fuel card spend,” said Ron Clarke, FleetCor’s Chairman and CEO.
Steve Price, Head of Business Development at Visa Europe, commented, “We
are delighted to have concluded a partnership with FleetCor to deliver
products to the fleet and fuel card marketplace. We believe there is a
real need for new solutions that help reduce costs and extend payment
functionality. The combination of Visa’s payments expertise together
with FleetCor’s specialist fuel industry expertise makes for a powerful
combination. I look forward to extending the partnership beyond this
This press release contains forward-looking statements within the
meaning of the federal securities laws. Statements that are not
historical facts, including statements about FleetCor’s beliefs,
expectations and future performance, are forward-looking statements.
Forward-looking statements can be identified by the use of words such as
“anticipate,” “intend,” “believe,” “estimate,” “plan,” “seek,” “project”
or “expect,” “may,” “will,” “would,” “could” or “should,” the negative
of these terms or other comparable terminology. Examples of
forward-looking statements in this press release include statements
relating to the delivery of new fuel card solutions, planned
implementation, and the creation of new benefits for commercial clients.
These forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially from
those contained in any forward-looking statement, such as the risks and
uncertainties identified under the caption “Risk Factors” in FleetCor's
Annual Report on Form 10-K for the year ended December 31, 2012, filed
with the Securities and Exchange Commission on March 1, 2013. FleetCor
believes these forward-looking statements are reasonable; however,
forward-looking statements are not a guarantee of performance, and undue
reliance should not be placed on such statements. The forward-looking
statements included in this press release are made only as of the date
hereof, and FleetCor does not undertake, and specifically disclaims, any
obligation to update any such statements or to publicly announce the
results of any revisions to any of such statements to reflect future
events or developments.
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/New
Zealand. For more information, please visit http://www.fleetcor.com.
About Visa Europe
Visa Europe is a payments technology business owned and operated by
member banks and other payment service providers from 36 countries
Visa Europe works at the forefront of technology to create the services
and infrastructure which enable millions of European consumers,
businesses and governments to make electronic payments. Its members are
responsible for issuing cards, signing up retailers and deciding
cardholder and retailer fees.
Since 2004, Visa Europe has been independent of Visa Inc. and
incorporated in the UK, with an exclusive, irrevocable and perpetual
licence in Europe.
For more information, please visit www.visaeurope.com
Source: FleetCor Technologies, Inc.