Case Profile: Innovations in fleet card security: Industry Research Report

Case Profile: Innovations in fleet card security

Published Date: June 2005

Published By: Datamonitor

Page Count: 46

Order Code: R313-11165

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TABLE OF CONTENTS
CHAPTER 1 EXECUTIVE SUMMARY 3
This case profiles investigates which security services are valued by different fleet segments and advises on which of these services should be offered 3
Trends 3
Recommendations for card providers 3
Protection against fraud is a key requirement of a fuel card for customers, second only to high network acceptance 4
The more innovative security services largely involve the implementation of technical features and card limits/restrictions/parameters 5
Security is the area where most fuel card product innovation has occurred 5
CHAPTER 2 INTRODUCTION 13
This case profile assesses the demand for advanced fuel card security services and outlines how providers have responded to it 13
This case profile comprises four further sections 14
Customer context 14
Implementation study 14
Seizing the innovation 14
Recommendations 14
This case profile focuses on a number of fuel card security services/features, for which definitions can be found in the Appendix 15
Fuel card security services 15
Innovative fuel card security services 15
Fuel card security relevant services 15
This report is aimed at those needing a greater insight into customer requirements in the area of fuel card security features 16
Strategists 16
Product development teams 16
Marketing and service managers 16
CHAPTER 3 CUSTOMER CONTEXT 17
Customer context 17
Protection against fraud is a key requirement of a fuel card for customers, second only to high network acceptance 18
Following comprehensive network coverage, enhanced security is the core feature fleet managers across Western Europe expect from their fuel card provider 19
Protection from employee fraud is almost as much as a concern to fleet managers as theft from an external party 20
Analysis of the relationship between security features and fleet size reveals that exception reporting and vehicle analysis become more important the larger the fleet size 21
The value of ‘security relevant’ management tools is most pronounced among larger fleets 22
Fraud is rated as the most significant factor preventing non-users of fuel cards from converting to this form of payment 23
CHAPTER 4 IMPLEMENTATION STUDY 24
Implementation study 24
The more innovative security services largely involve the implementation of technical features and card limits / restrictions / parameters 25
There is a high variance in the importance of more innovative security services by segment, but instant card stopping is highly valued by all 26
Large fleets value internet based security measures more than smaller fleets, partly because they are more informed of features such as online authorisation 27
Regional differences in the value placed on security features are less pronounced 28
Customers are generally satisfied with online implementation of all innovative security services 29
There are significant differences, by country, in how a transaction outside of the predefined limits should be handled 30
CHAPTER 5 SEIZING THE INNOVATION 31
Seizing the innovation 31
Security is the area where most fuel card product innovation has occurred 32
Technical security features such as velocity checking and online authorisation are now very much the norm 33
More innovative transaction parameters are slowly being added to the more established fuel value and product limits 34
Shell’s card has the greatest number of security features 35
Repsol is the only major provider which allows fuel card users to specify the days on which the card can be used 36
Customers are not always aware of the security features offered by their card 37
Arval compares poorly to the other suppliers in an analysis of instant online card stopping by provider 38
Repsol and Arval are the suppliers with a weak penetration of PIN services into their customer bases 39
UK suppliers lag behind in the implementation of chip and PIN 40
CHAPTER 6 RECOMMENDATIONS 42
There are four key recommendations for fuel card providers hoping to alleviate their customers’ security fears 42
Recommendations 42
CHAPTER 7 APPENDIX 43
Glossary of terms 43
Research methodology 45
Related research 45
SPP writing team 46

LIST OF FIGURES
Figure 1: Card PIN codes are the third most important fuel card feature 19
Figure 2: PIN codes are demanded by fleet managers irrespective of fleet size 21
Figure 3: A fear of fraud can dissuade non-users from subscribing to this form of payment 23
Figure 4: The three services in the upper right quadrant are highly valued by particular market segments 26
Figure 5: There is a positive correlation between fleet size and the importance of instant online card stopping and online authorisation 27
Figure 6: Southern European fleet managers value innovative security features the most 28
Figure 7: The preferred method of implementation is online, although indifference is apparent, the smaller the fleet size 29
Figure 8: The majority of fleet managers in Southern European want transactions made outside of limits to be refused 30
Figure 9: Number of security services by provider 35
Figure 10: Number of limiting features by provider 36
Figure 11: Based on customers’ understanding of what features their cards have, instant online card stopping and velocity checking are the only two services with 60%+ penetration 37
Figure 12: 46.2% of Arval respondents have instant online card stopping as a service 38
Figure 13: 5.4% of Arval respondents said they have a PIN code for their card when the supplier does not yet offer it 39
Figure 14: Those providers which offer 7 or more services score in excess of 3.75 out of 5 for the level of security against external theft 41
Figure 15: European Fleet Managers Research, 2004 - Survey sample 45

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