TransCard Lands Exclusive, Revolutionary Cross-Border Fuel Processing Deal

CHATTANOOGA, Tenn.--(EON: Enhanced Online News)--TransCard (www.transcard.com) – a leading provider of prepaid debit card solutions branded with MasterCard®, Discover® Network and STAR associations – has launched a first-of-its-kind fuel card network for Mexico and Latin America. The TransCard fuel card will be accepted at more than 2200 locations in Mexico, representing over 25 percent of the entire fuel-stop market in the country. The technology will enable fleets to receive real-time fuel pricing, electronic authorizations and fraud protection. In addition, the card will allow for cross-border acceptance with a multi-currency component built in for corporate fuel purchases.

“TransCard is moving forward in prepaid with product offerings that are unmatched”

“This network will transform how Mexican fleets handle fuel purchasing,” says Craig Fuller, CEO of TransCard. “Our research has identified that fraud occurs in 6 to 9 percent of fuel transactions in Mexico and in some cases is responsible for 30 percent of fuel spending; our platform will mitigate fraud occurrences and sync pricing across Mexico and Latin America. It is going to completely change the way fleets buy and manage their fuel spending in this part of the world.”

TransCard developed this unique network in collaboration with fuel truck stops in Mexico, along with a number of fleets that have identified fraud of as one of their key concerns. One of the most unique aspects of the card is that it will also offer a payroll component, allowing drivers to receive their pay on prepaid cards and providing drivers with a safe and secure method of receiving payroll funds—negating the need to carry large sums of cash.

“TransCard is moving forward in prepaid with product offerings that are unmatched,” says Jerry Uffner, TransCard’s President. “Our willingness to explore clients’ and consumers’ needs and our drive to then meet these needs via comprehensive, robust product lines, differentiates TransCard from other companies in the same space. The technological innovations we continue to develop and then the application of these innovations to achieve product goals makes us unique, keeps us far ahead of the curve and demonstrates our passion for this business. We remain committed to delivering unique, exciting products that you won’t find anywhere else.”

About TransCard

TransCard (www.transcard.com) is a top ten, stored-value processor and a global provider of transaction-based processing services. TransCard has provided stored-value processing services since 1993 and pay card products beginning in 1996. TransCard differentiates itself in the prepaid card industry by offering compliant solutions, real value, proprietary technology, mobile card management and stability. Its products include pay cards, financial institution stored-value processing, gift reward cards, fleet services and retail program management. TransCard handles nearly $2 billion in electronic transactions annually and was featured as a “10 to Watch” by Intele-Card News. The company was recently named as a 2009 Paybefore Awards Best-in-Category Winner for the Best Corporate-Funded Prepaid Card.