How Corpay Saves Their Customers Thousands Per Year

Corpay is a global fintech leader that advances corporate payments for businesses everywhere, including companies with fleets looking to manage a high volume of fuel transactions. Corpay Proximity is a product that drastically reduces fuel fraud by assessing transaction data alongside vehicle data, to determine exceptions around fueling location, quantity, type, and more.

Opportunity: Reduce Fraud

Fuel fraud for businesses with fleets is a more persistent challenge than ever, with industry sources stating that fraudulent transactions can account for 5-10% of a business’s fuel spend annually. The growth in fuel fraud has been attributed to a new class of modern fraudster, one that leverages technology to skim card numbers in seconds—completely unbeknownst to drivers. Long gone are the days of a thief having to physically steal a card.

With the prevalence of tech-enabled fraud, Corpay recognized the need for a more effective, technology-driven, and intelligent solution: one that kept drivers on the road and kept their customers confident that fuel transactions were legitimate.

Solution: Corpay Proximity

Corpay partnered with Motorq to develop Proximity, a cutting-edge system designed to marry transaction authorization with real-time vehicle location and fueling data provided by Motorq’s software. Because Motorq has data integrations with both the leading automakers and the leading telematics device companies, Corpay needed only to integrate once to gain access to 20+ data sources.

Today, whenever a driver uses a Corpay fuel card, the system cross-references the transaction location with the vehicle's location. If the vehicle is within a specified radius of the fuel pump, the transaction proceeds as normal. If the vehicle is not within the radius, the transaction is either halted or flagged for potential fraud. The Corpay system can also identify mismatches between fuel quantity dispensed at the pump and fuel quantity added to the vehicle’s tank. Additionally, an intuitive summary dashboard enables fleets to identify repeat instances of fuel misuse and take corrective action.

Impact: $71K per customer per year

With Motorq handling the integration and normalization of data into insights, Corpay has been able to focus on expanding and improving the Proximity product and has:

• 1

  Enhanced Fraud Detection Accuracy: Higher data frequency helped Corpay to decrease the allowable radius within which a transaction will be approved, enhancing fraud detection accuracy.

• 2

  Reduced Onboarding Times by 40%: Faster onboarding of vehicles thanks to direct integration through Motorq and a repeatable onboarding process across multiple telematics providers.

• 3

  Doubled Their Providers in 12 Months: Corpay has rapidly expanded its Proximity customers’ base through increasing its service compatibility with additional ELD (electronic logging device) providers.

The partnership with Motorq has delivered significant business value for Corpay and its clients. The average Proximity customer sees a potential fraud savings of:

To put that into perspective: for the average Proximity Fleet, that’s a savings of over $71,000 a year.

About Motorq

Motorq is the world's leading connected-vehicle data and analytics infrastructure software company. Motorq’s products provide actionable insights to businesses that own and manage vehicles, such as large fleets, fleet leasing and management companies, dealers and their service providers, remarketing companies and more.

Customers access those insights on their applications built on the Motorq infrastructure, or on Motorq's ready-to-deploy applications. Motorq’s solutions enable customers to reduce hassle, minimize cost, increase operational efficiency, and improve customer experience.

Motorq is headquartered in the San Francisco, CA, with offices in Seattle, Boston, Bangalore, and Chennai.