A new pre-pay fuel card aimed at businesses with a limited credit history has been launched by Fuelmate.
Fuelmate’s Flexi-pay enables new companies without a credit history, or existing companies with a poor credit history, to access all the benefits of a traditional fuel card, including a fixed weekly diesel price which is lower than that the pumps.
The card allows companies to load a set number litres on to an account and top up via phone or direct debit when the credit is running low.
It leverages the Keyfuels network, meaning Flexi-pay is accepted at more than 1,600 forecourts and supermarkets across the UK.
Andy Smith, manager of Fuelmate, said the Flexi-pay fuel card enables businesses to budget and track their fuel spend far more precisely than using cash, as well as providing a single invoice detailing all transactions, meaning drivers don’t have to collect and submit fuel receipts.
The Flexi-pay card can also be made driver or vehicle specific, enabling business owners to control how the card is used and by whom, and set spending limits.
Smith said: “Flexi-pay has been introduced into our extensive fuel card portfolio to help new companies with little or no credit history and established companies with a poor credit history get access to a fuel card.
“It means they can get access to all the benefits of a fuel card – cheaper prices, better financial planning, no need for cash, a single, weekly invoice – and is available to any company that spends more than £500 per month on diesel, regardless of their credit history.”
Flexi-pay is specifically designed to offer savings against national average retail prices, meaning business owners make a cost saving on diesel.
Customers using the product are notified by text or email when the account balance drops to 25 per cent, 15 per cent and five per cent of their estimated weekly volume.
Smith added that once companies had used Flexi-pay for 12 months or so, they could become eligible for a more traditional fuel card.
He said: “Once companies have established a reputable trading history with us, they are far more likely to pass a credit check and then they can decided to change to a different product if they wish. We offer a comprehensive range of fuel cards from leading brands such as BP, Shell and Esso, and tailor the right solution to suit just about any kind of business.”