PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

U.S. Fleet Cards are On the Road to Recovery:

PaymentsJournal by PaymentsJournal
December 9, 2021
in Commercial Finance, Truth In Data
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Don’t miss another episode of Truth In Data! Click on the red bell in the lower-left of your screen to receive notifications as soon as the episode publishes.

Data for today’s episode is provided by Mercator Advisory Group’s Report: On the Road to Recovery: U.S. Fleet Card Market Sizing and Forecast, 2020-2025

U.S. Fleet Cards are On the Road to Recovery:

  • Truck transportation employment suffered a steep decline in 2020, with 87,800 jobs lost from March to April 2020.
  • Total fleet card spend was $77.6 billion in 2020, down from $88.2 billion in 2019.
  • In 2021, fleet card spend is expected to rebound to $89.9 billion.
  • Mercator Advisory Group expects the total fleet industry to resume 2% overall growth from 2021-2025.
  • Open and closed loop fleet cards encompass 4% of U.S. commercial card spend share. 
  • Closed-loop cards, which comprise 80% of the total fuel card market, will continue to dominate the fleet market through 2025.

About Report

Mercator Advisory Group released a report covering the fleet card market, titled On the Road to Recovery: U.S. Fleet Card Market Sizing and Forecast, 2020-2025. The research explains the current market and forecast, discusses closed- and open-loop card networks, card spend, and network volume, and explores the effects of the COVID-19 pandemic on the industry.

This research also explores current fleet tracking & telematics technology and how companies are using these advancements to reduce costs and increase safety. We then transition into the future of fleet and current state of federal and statewide climate and sustainability initiatives. Many of these innovative programs will affect the future of fleet in terms of updated fuel efficiency standards and increasing shifts towards fleet electrification.

“Sustainability initiatives may have fleets examining alternative vehicles and electrification,” comments Ben Danner, Analyst at Mercator Advisory Group, and the author of the research report. “Fleet card companies must begin to invest in the future of fleet and this means taking a serious look at advances in payments technologies and continued market awareness.”

Tags: commercial cardsCommercial PaymentsCovid-19Fleet Cardfuel cardtransportationTruth In Data
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    eCommerce On Social Media, social commerce

    The Rise of Social Commerce and Social Payments

    February 3, 2023
    Electroneum AnyTask; ETN Crypto, sales enablement

    Ethical Financial Selling: The Role of Compliance Technology and Sales Enablement

    February 2, 2023
    direct deposit

    Nacha Launches Campaign to Reach Millennials on the Benefits of Direct Deposit

    February 1, 2023
    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    Equinix Helps UK-Based Payments Provider Enable Faster, More Reliable Payments Processing

    January 31, 2023
    credit card tumbling

    How to Detect, and Prevent, Credit Card Tumbling

    January 30, 2023
    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Equinix report - Dojo Delivers Fast, Reliable and Secure Card Payments to Businesses on Platform Equinix