Spade’s merchant intelligence will provide Fuelman improved authorization and attribution of Mastercard fleet transactions within the nationwide Fuelman Network1
NEW YORK, May 07, 2024 (GLOBE NEWSWIRE) -- Spade, the fastest and most accurate provider of merchant intelligence for the card ecosystem, has partnered with Fuelman®, a Corpay brand and leading local fuel expense management solution, to improve the company’s transaction authorization and attribution.
Fuelman helps businesses such as major parcel delivery companies, fleet management and leasing providers, and global CPG companies manage and control fuel expenses with customizable fuel controls and real-time alerts and reporting. Fuelman also assists companies with minimizing operational inefficiencies and the potential for costly misuse of fuel charges.
Great advancements in financial services and payment processing have occurred in recent years, yet the amount of merchant data available to card issuers lags far behind the quality and quantity of data available about consumers. Due to data standards that regulate how merchant transaction information is communicated, the only information passed on to the card issuer is the shortened serial code that ISO regulations allow for. Therefore, to process Fuelman card transactions, it is critical to have the most accurate merchant data possible so that the company’s Mastercard fleet customers have the potential to receive additional rebates and benefits when purchasing at participating sites.
Spade’s partnership with Fuelman will deliver this quality data through its ground-truth database that covers nearly 100% of merchants across the US—including the tens of thousands of gas stations within the Fuelman Network, such as ExxonMobil, Chevron, Love’s, Pilot/Flying J, Speedway, and many more. 2 This will result in faster return of merchant data so that transactions can be completed as efficiently and accurately as possible.
“For decades, the card issuing ecosystem has struggled with enhancing the quality of merchant data available. When I learned that Spade built a solution to provide the fastest and most accurate real-time merchant intelligence, I knew our business could benefit from a partnership.” said Keagan Russo, President, Fuelman. “One of the biggest initiatives for our team this year is improving the accuracy of our transaction authorization and attribution across our Mastercard transactions with the same level of certainty as those running on our proprietary Fuelman rails. We’re committed to delivering incremental value for our North America fleet customers while also creating endless opportunities to provide our customers with even more control and insight into their fuel spend.”
“Fuelman has created one of the largest and most complex networks of discounted fuel providers in the country, and we’re so proud to be working with them to drastically improve how they’re able to attribute and authorize purchases made at the participating Fuelman Network merchants,” said Oban MacTavish, co-founder and CEO, Spade. “Just from this initiative alone, we expect to help Fuelman generate millions of dollars of revenue each year. Perhaps what’s more important is that by eliminating the consumption of time and budget that goes into disseminating the low-quality merchant data that’s currently available, Fuelman will have more bandwidth and budget to innovate new products driving real customer benefits.”
1 Fuelman sites can be found at www.fuelman.com/sitelocator.
2 Updated on March 28, 2024
About Spade
Spade provides real-time merchant intelligence for the card ecosystem. Spade leverages its ground truth database to link any card transaction to a real merchant identity – providing granular merchant, category, and geolocation information. Spade leads the market in terms of merchant coverage, geolocation matching accuracy, and speed of transaction enrichment. Customers such as Mercury, Sardine, and Unit trust Spade's data to authorize more transactions, prevent fraud, and build more innovative features.
About Fuelman®
Founded in 1985, Fuelman is a leading local fuel expense management solution. A Corpay brand, Fuelman helps businesses manage and control fuel expenses with customizable fuel controls and real-time alerts and reporting, ensuring businesses can better service their customers while minimizing operational inefficiencies and costly misuse of fuel charges. For more information, visit fuelman.com.
Media Contacts:
Gina Papini
Spade
gina@baytobaycommunications.com
Ashley McDonald
CORPAY (for Fuelman)
615-376-6833
ashley.mcdonald@fleetcor.com
