GE Capital Transportation Finance, a unit of General Electric Company GE, recently announced an over-the-road (OTR) fuel card program in collaboration with WEX Inc WEX – a provider of corporate payment solutions for OTR trucking companies.
The newly co-branded OTR fuel card offers industry-leading controls, fraud reduction, level III reporting and fuel savings throughout the fleet one network. The strategic move by the company is aimed to help customers control and manage their fleet expenses in an effective manner.
The operators can use the Fleet One OTR fuel card as an alternative to debit or credit cards, which will allow them to manage spending. The customers will benefit from the rebates on fuel expenses and have an increased access to data. Also, the customers will have access to healthy reporting capabilities from WEX, which is likely to provide increased security and control. Thus, through the Fleet One OTR fuel card program, the customers are likely to enjoy added security and cost containment measures.
GE Capital, Transportation Finance provides support to the commercial trucking industry with customer-centric financing programs.
General Electric, the parent company, is one of the largest and most diversified technology and financial services corporations in the world with products and services ranging from aircraft engines, power generation, water processing, and security technology to medical imaging, business and consumer financing, media content, and industrial products.
General Electric currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now include Hitachi Ltd. HTHIY and Shanghai Industrial Holdings Limited SGHIY both carrying a Zacks Rank #2 (Buy).
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