Fleetcor Technologies
(NYSE: FLT)
88.15
-0.97
-1.09%
-0.97
-1.09%
MORE ON FLT
COMPANY INFORMATION
| Exchange: | New York Stock Exchange |
| Stock: | Fleetcor Technologies, Inc. |
| Industry: | Business Services |
| Employees: | 2,650 |
DESCRIPTION
| FleetCor Technologies, Inc. is a Delaware corporation. Its predecessor company was organized in the United States in 1986. In 2000, changed its name to FleetCor Technologies, Incite is the provider of payment products and services to commercial fleets, major oil companies and petroleum marketers. It serves more than 530,000 commercial accounts in 18 countries in North America, Europe, Africa and Asia. Through its proprietary payment networks, its cards are accepted at approximately 83,000 locations in North America and Europe. It provides its payment products and services in a variety of combinations to create customized payment solutions for its customers and partners. Its payment programs enable businesses to better manage and control employee spending and provide card-accepting merchants with a high volume customer base that can increase their sales and customer loyalty. In order to deliver its payment programs and services and process transactions, it owns and operates six proprietary “closed-loop” networks through which it can electronically connect to merchants and capture, analyze and report customized information. It also uses third-party networks to deliver its payment programs and services in order to broaden its card acceptance and use. It also provide a range of services, such as issuing and processing, as well as specialized information services that provide its customers with value-added functionality and data. Its customers can use this data to track important business productivity metrics, combat fraud and employee misuse, streamline expense administration and lower overall fleet operating costs. It markets its payment products directly to a broad range of commercial fleet customers, including vehicle fleets of all sizes and government fleets. Among these customers, it provides its products and services predominantly to small and medium commercial fleets. Its revenue is recurring in nature because it generates fees every time a card is used, customers rely on its payment programs to control their own recurring operating expenses and its partners and customers representing a substantial portion of its revenue enter into multi-year service contracts. The key elements of its growth strategy are to penetrate its target markets further, Expand its products and services, Enter new geographic markets, Pursue growth through strategic acquisitions. It sells a range of customized fleet and lodging payment programs directly and indirectly through partners, such as major oil companies and petroleum marketers. It provide its customers with various card products that typically function like a charge card to purchase fuel, lodging and related products and services at participating locations. It operates in two segments, which it refers to as its North American and International segments. It compete with independent fleet card providers, providers of card outsourcing services and major financial services companies as well as major oil companies and petroleum marketers that issue their own fleet cards. Its primary independent fleet card competitors are Wright Express Corporation, Comdata Corporation and U.S. Bank Voyager Fleet Systems Inc. in North America and Arval UK Group Limited (a subsidiary of BNP Paribas) internationally. It owns trademark registrations supporting a number of its brands, such as FleetCor®, Fuelman®, FleetNet®, FleetCards USA®, CFN®, and Mannatec® in the United States. It also own trademark registrations in various European jurisdictions for a number of its brands, such as Keyfuels®, The Fuelcard Company®, CCS®, iMonitor® and Transit Card®. A substantial number of laws and regulations apply to businesses offering payment cards to customers or processing or servicing such cards. |
DATA PROVIDERS
Copyright © 2013 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
RECENT QUOTES
WATCHLIST
You're not signed in
You’re not signed in to MSN Money, so you’re seeing the Watchlist that is tied to your computer. For a more consistent Watchlist experience, sign in to MSN Money.
Learn more
Sponsored by:
MARKET UPDATE
[BRIEFING.COM] Equities ended on their lows with the S&P 500 down 1.4%. The S&P entered today's session with a week-to-date gain of 1.5% as investors expected reassuring words from today's Federal Open Market Committee Statement. Stocks traded with s
...
More
MORE MARKET NEWS
Sponsored by: