New Collaborative Authorization Enhancements for Fleet Cards

Date
Jun 27, 2024
Author
Highnote Team
Share

We’re always looking for ways to give our customers even more power and flexibility – it’s what being the most modern card platform is all about. That's why, today, we’re excited to announce new enhancements to our fleet card product. Now, businesses managing a fleet card program can use fleet prompts and enhanced data in their collaborative authorization payment flows. This means our customers have better control over which transactions get declined or approved – resulting in less fraud and a more streamlined overall experience.

Empowering Decisions with Fleet Prompts and Level 2 Purchase Data

The key elements of this new update are three of our capabilities, which are now integrated together.

First, there's collaborative authorization. This decision-making tree allows companies to approve or deny transactions based on their business logic. It gives our customers more control because it allows them to bake in the rules of their finance approvals in real time, with no manual reconciliation of funds.

Second, there is our support of enhanced data. While transaction data accompanies every card purchase, fuel card providers often want to provide their customers with more detailed information, known as enhanced data (which includes Level 2 and Level 3 data). This can include data such as type of purchase, location, fleet ID, odometer, purchase ID (invoices or order number), and vehicle driver ID. This enriched data set can help fleet management companies better understand driver payment behavior and help them plan for the future while preventing fraud.

Finally, there are fleet prompts. These specialized prompts, requiring drivers to input specific information such as driver ID numbers or trip details during fuel-related purchases, serve as an additional layer of security against fraudulent activities. Prompting for this information prior to authorization can significantly reduce the risk of unauthorized transactions.

Transforming Fleet Management

After listening to our customers, we’ve combined these three elements of our product, with enhanced data and fleet prompts becoming options becoming part of the dataset they can use to set up their business logic and purchase approval decision-making. This means fleet management companies can access over 20 different fields of information to craft the most tailored business logic for their needs. For example, a fleet manager company can block a mixed transaction (fuel + other products) at one merchant but allow it at another. This unparalleled flexibility gives our customers granular, hyper-specific spend control over every single trip.

As a customer-obsessed company, we’re on a mission to provide our customers with everything they need to transform and disrupt their industry. With these new collaborative authorization enhancements, we aim to do just that for our customers in the fleet management landscape. By integrating detailed purchase data and real-time prompts into the transaction process, fleet managers can achieve greater control, improve efficiency, and reduce unauthorized spending—setting them up to revolutionize the space.

Want to understand how we can help you use the power of data and customization to supercharge your fleet management program? Talk to us today.

Share this post