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How secure is your fuel payment solution?

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The fuel card market is failing fleet managers when it comes to security. The industry’s heavy reliance on magnetic stripe cards is a significant weak spot in modern-day card security – a weak spot criminals are keen to take advantage of.

Bringing security to the fuel card market

It’s remarkable that so much of the fuel card market has yet to catch up with the nationwide switch to Chip and PIN that happened almost 10 years ago. The introduction of Chip and PIN eliminated many of the opportunities for criminals looking to compromise cards. The numbers speak for themselves, with face-to-face card fraud plummeting 72% since its pre-Chip and PIN peak in 2004^.

But it’s been a different story with fuel cards. With fleets relying on older, less secure card technology to buy billions of pounds worth of fuel every year, fuel cards are a magnet for crime. That’s where we come in – as the first to implement Chip and PIN in the UK, we’re known for leading the way in payment security.

Card fraud losses (UK face-to-face transactions) 2003-2013^

 

 

 

 

 

 

A history of innovation

With Barclaycard Fuel+, in association with The Miles Consultancy, we’re bringing 40 years of card security expertise to address the fraud threats you face head on, as well as a whole host of other benefits.

Market leaders and pioneers in the UK payment services arena, we have a history of innovation, from introducing the UK’s first credit card in 1966 to leading the way in contactless payment technology today.

A combination of continuous investment into fraud prevention and championing industry initiatives has ensured our card transactions are highly secure.

Our fraud detection systems monitor accounts 24/7 and use advanced algorithms, fine-tuned over decades, to identify suspicious activity at the earliest opportunity.

Meanwhile, our dedicated security team advises on industry-wide best practices.

For example, we helped guide the Payment Card Industry Data Security Standard in creating an industry-wide framework for safe card data processes.

 

Taking fuel card security seriously    

As well as the security advantages of Chip and PIN, Barclaycard Fuel+ offers features you won’t find on competitor fuel cards that help keep your fleet safe from fraud.

To detect early warnings of fraud, we continually monitor card spend. Combined with real-time card cancellation and spend limits, Barclaycard Fuel+ gives you complete control and peace of mind.

At the same time, every single transaction, regardless of the amount, is subject to real-time authorisation checks to make sure the card isn’t listed as lost or stolen.

Protection you can count on

Barclaycard Fuel+ offers you protection against fraud with our Cardholder Misuse Indemnity cover. In the event that one of your cardholders uses their card inappropriately and you can’t get reimbursement from them, our Cardholder Misuse Indemnity covers you for up to £15,000 per cardholder and up to £1m each year for the business as a whole (subject to indemnity terms).*

Security leads to savings

Through this combination of technology, experience and innovation, Barclaycard Fuel+ is bringing fuel card security into the 21st century. This focus on security  – alongside our award-winning Mileage Capture and Audit system that pinpoints and addresses any mileage discrepancies – is what helps us deliver an average business fuel cost saving of 25% in the first year.**

To take your fuel card security to the next level, go to barclaycard.co.uk/business/fleetnews or call 0844 822 2400.***

^ Source: ‘Fraud the Facts 2014’ Financial Fraud Action report, May 2014.

Please note that, at present, Fuel+ is available only to organisations with a business fuel spend of more than £100,000 p.a.

* Please note that the Cardholder Misuse Indemnity does not cover shared use cards.

** This is based on the first year business fuel savings of 24 TMC customers calculated in 2012. TMC is a trading name of The Miles Consultancy Ltd, a provider of Mileage, Fuel and Mobility Management solutions. Registered Office: TMC House, Minshull Vernon, Cheshire CW1 4RJ.

*** For BT business customers, calls will cost no more than 5.5p per minute, minimum call charge 6p (current at February 2015). The price on non-BT phone lines may be different. Calls may be monitored and/or recorded.

Barclaycard is a trading name of Barclays Bank PLC. Barclays Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Financial Services Register Number: 122702) and subscribes to the Lending Code which is monitored and enforced by the Lending Standards Board. Registered in England No: 1026167. Registered Office: 1 Churchill Place, London E14 5HP.

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Comments

  • Mike Gillson - 27/03/2015 10:18

    Whereas it is true that for debit and credit cards chip and pin has reduced fraud and that several companies issueing cards are using outdated technology, the majority of fuel card fraud is committed by drivers or with their complicity or by ridiculously bad practice, sometimes by well known industry names. Cahning pin numbers so they are all the same for all vehicles in the fleet, so when drivers change vehicles it is easier or even writing pin numbers on the back of cards is not uncommon, as it drivers letting family members fill up using the card when driving that vehicle. In built security features such as velocity limits and alerts for out of pattern usage, aid Fleet Managers, but the weak link in most cases are drivers themselves.

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