Fleet and Mobility – Shift to Open-Loop Solutions
The fleet mobility industry – encompassing passenger cars for employees and contractors, light commercial vehicles for last-mile transport, and heavy vehicles for commercial transport – continues to share common needs regarding driver, fuel, and vehicle related purchases.
In this paper, Visa explores these payment requirements and delves into the market opportunities that the evolving fleet market presents.
The paper identifies a significant market opportunity, highlighting a global B2B spend on vehicle fuel of $620 billion. This figure rises to $1.5 trillion ($175 billion in CEMEA) when including tolls, maintenance, and mobile services. Coupled with growing cross-border trade, evolving customer needs and the growing popularity of digital payments, fleet companies are poised to adopt new solutions to streamline purchasing on the road.
Illustrated with real-world examples of the B2B fleet payment potential in countries such as Kazakhstan ($2.7 billion) and South Africa ($12.4 billion), the paper emphasizes the fleet industry's growth prospects, particularly in the underserved B2B segment.
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