Demystifying the Data Deluge: A Connected Fleet and Mobility Management Future

The Rise of Big Data in Fleet Mobility Management

The past decade has witnessed a digital revolution in fleet and mobility management, with advancements in vehicle technology, telematics, fleet management systems (FMS), and fleet maintenance software.  This has resulted in an unprecedented deluge of data for fleet managers, who are now burdened with managing information from multiple disparate sources.  However, within this data lies a golden opportunity: the ability to gain a truly comprehensive, “end-to-end” view of their fleet operations.

Payment Providers: Unlocking the Power of Integration

Payment service providers (PSPs) recognise this opportunity and are stepping up to play a critical role.  Their objective is to seamlessly integrate all these data sources into a single, unified platform for transport managers.  This is especially relevant as nearly every service within fleet management ultimately connects back to some form of payment.

The key to success for PSPs lies in effortless integration.  By offering robust and flexible API-based solutions, they can eliminate the historical burden of complex and costly maintenance and support associated with traditional integrations.  By doing so, PSPs can unlock the true potential of digital fleet management:

• Mobile Management: Empower transport managers to stay connected with their fleet's health and receive real-time fraud alerts directly on their mobile devices.
• Connecting the Car: Facilitating the transition from legacy card-based systems to innovative “connect-a-car” solutions within the evolving digital payments landscape.

Embracing Digital Payments

Whilst moving away from physical cards presents a long-term vision, the current surge in digital payments opens doors for these connected solutions.  However, widespread adoption requires a strong acceptance network, necessitating collaborative efforts from merchants, acquiring systems, and standard-setting bodies.

Leveraging existing EMV and scheme-based payment infrastructure offers a viable solution.  Standardising across the industry and utilising established payment rails can accelerate the rollout of digital solutions bring more value to fleet management solution streamlining operations and enhancing security.

Collaboration & the Future of Fleet Management

Furthermore, payment schemes will adopt a more inclusive approach, actively supporting third-party fleet management service providers.  This collaboration will enable them to extend their reach into the traditionally “closed loop” environment of fleet and mobility, which often suffers from economic growth limitations and increased financial risk due to its closed nature.

The pressure from regulations like PSD2, designed to enhance security and transparency, further incentivises this shift.  With their significant financial exposures, closed-loop systems become increasingly vulnerable to scrutiny, pushing them to reconsider their models due to rising compliance costs that erode already low margins.

However, there are more viable solutions than simply dismantling these systems.  Imagine the catastrophic impact on the financial system if a major fuel company could not settle its debts with other players.

The future therefore lies in fostering collaboration between established schemes, innovative payment solution providers, and third-party solutions.  By working together to prioritise open standards, robust infrastructure, and user-centric solutions, we can unlock the true potential of data-driven fleet management and navigate the complex regulatory landscape effectively.  This ensures the financial well-being of individual companies and contributes to a more efficient, secure, and sustainable transportation ecosystem.