WEX, the global commerce platform that simplifies the business of running a business, has officially announced the introduction of WEX EV Depot, which is designed to enable simple, secure, and frictionless charging at private chargers when using the WEX Fleet Card.
According to certain reports, this particular innovation makes WEX the first fleet management business in North America to offer electric vehicle (EV) charging payments across depot, public, and at-home charging locations.
To understand the significance of such a development, we must take into account a recent Frost & Sullivan report, where it was revealed that more than 80% of surveyed mixed-energy fleet operators aim to make sure, at least, 25% of their fleets is made by EVs before 2030 rounds up to a close.
However, such a commitment will need one wholly streamlined approach to payments for both internal combustion engine vehicles (ICE) and EV vehicles. Enter WEX’s card offerings, they are understood to be suitable for every organization that seeks a unified charging and payment solution for mixed-energy fleets.
“As fleet managers shift from internal combustion engines to EVs, they face the challenge of consolidating data across different types of chargers and fueling stations for operational efficiency,” said Carlos Carriedo, Chief Operating Officer, Americas Payments & Mobility at WEX. “With WEX EV Depot, we are helping customers navigate the complexity of infrastructure rollout and giving them tools to operate efficiently at scale with a 360-degree solution.”
Talk about WEX EV Depot on a slightly deeper level, we begin from the value it brings for the fleet operators.
As WEX EV Depot is included in an integrated reporting system, it effectively allows fleets to manage all EV charges, from any charging source or fuel transactions, on a WEX fleet credit line. Next up, the offering treads up a long distance to simplify onboarding and on-going operations, while simultaneously mandating the need for fewer cards.
Another detail worth a mention is rooted in the presence of WEX EV Depot Mapping tool, which allows fleets to direct EV drivers to their preferred depot or private charging locations, regardless of whether chargers are connected to the internet or not.
Beyond that, the solution can also significantly shrink downtime by scheduling charging overnight.
Turning our attention towards what WEX Depot will do for drivers, it will leverage WEX-issued RFID tag to ensure frictionless and secure EV charging payments at private chargers. This functionality arrives alongside the option to tap into WEX’s public network of nearly 150,000 charging stations.
The solution will also get to bank upon the capabilities of WEX DriverDash, WEX’s mobile payment app, to access touch-free in-app charger activation for cross-vendor public and private chargers, thus providing a fast, secure payment option via smartphones.
“With comprehensive payment integration, the EV Depot Mapping tool, and robust data security, our WEX EV Depot solution provides a wealth of benefits to our EV and mixed-fleet customers,” said Carreido. “It offers a simple and efficient tool to enhance operational and financial efficiency, and accelerate lower-emissions goals.”
Among other things, we ought to mention how WEX EV Depot works seamlessly with insights from Sawatch Labs, a WEX Company, to help fleets determine where to deploy depot charging based on real operational data, and maximize ROI once the infrastructure is in place. As for the availability, the solution is available to WEX En Route customers in exchange of a flat subscription fee.
