Element Fleet Management Announces Element Pay Cardless Fuel Payment Solution

Element Fleet Management Corp. announced the launch of Element Pay, a cardless fuel payment solution designed to help fleets maximize savings, prevent fraud, and eliminate physical fuel cards. According to the company, the system utilizes vehicle-based verification to authorize transactions directly.

Crown Capital, a management company for roofing-related businesses, reported a 15% overall savings using Element Pay, along with identifying $150,000 in potential fraudulent spending over a 90-day period. The firm also noted a 25% reduction in time spent resolving payment issues for crews.

Key Features of Element Pay

• Vehicle-Authorized Payments: The vehicle initiates and authorizes direct-pay transactions, helping prevent unauthorized spending before it occurs.
• Cardless Operations: Replaces traditional physical fuel cards with digital payments to reduce lost-card issues, PIN problems, and management costs.
• Fraud Prevention and Controls: Connects purchases to vehicles, flags suspicious activity, and blocks transactions that fail verification requirements.
• Administrative Efficiency: Automates reconciliation and digital receipts to minimize paperwork and streamline driver onboarding.

Practical Implications and Verification

Element Pay currently provides access to over 85,000 supported fueling locations across the United States. Future applications are planned to expand vehicle-based payments to maintenance, tolls, violations, and electric vehicle charging.

Readers and fleet operators can verify the original announcement and review corporate disclosures through Element Fleet Management's official investor relations channels or filings on SEDAR+.