EDENRED LAUNCHES INNOVATIVE VISA FLEET CARD SOLUTION

Rhea-AI Summary

Edenred announced the launch of Edenred Essentials, an innovative fleet solution developed in partnership with Visa. This service, tailored for businesses in the U.S., simplifies vehicle expense management, including fuel and EV charging. By addressing the high costs related to fleet management, Edenred Essentials offers real-time controls, a user-friendly interface, and a cashback rewards program, enabling businesses to save time and reduce costs. With extensive experience in fleet and mobility services, Edenred aims to enhance productivity and position companies for future success.

Positive

• Launch of Edenred Essentials enhances fleet management efficiency.
• Partnership with Visa increases the service's credibility and reach.
• User-friendly platform backed by extensive global experience.
• Cashback rewards program offers cost-saving opportunities for clients.

Negative

• None.

New service in the U.S. brings enhanced digital capabilities and greater efficiencies to save businesses time and money

BOSTON, Aug. 8, 2022 /PRNewswire/ -- Edenred, a global leader in specific-purpose payment solutions, announced today the launch of Edenred Essentials. The solution, built in collaboration with Visa, is an innovative fuel, electric vehicle (EV) charge and vehicle expenses Visa commercial card.

Edenred Essentials supports all needs of a modern fleet - with real-time and easy to use advanced controls.

Fleet management costs are one of the largest expenses for most businesses, and with skyrocketing fuel prices, companies are under pressure more than ever to find efficient solutions.* Edenred is introducing this modern fleet solution into the U.S. market to power fleets to deliver more, remove barriers limiting their productivity and unlock the true power of their businesses, positioning them for future success.

"Businesses have limited payment options for their vehicle expenses, and we saw this as an amazing opportunity to offer a new, user-friendly and best in class fleet solution," said Ed Fleischmann, CEO, Edenred USA. "Visa is at the forefront of the digital payment revolution, and we're excited to partner with them to bring this innovative solution to the U.S. market. We built it with the latest technologies to help businesses do more with less."

"The new Edenred Visa solution gives maximum flexibility to fleet businesses, matching or surpassing functionality of existing fleet cards and expanding acceptance," Said Veronica Fernandez, Head of Visa Business Solutions, North America. "We are excited to work with Edenred to help streamline clients' operations, and offer rewards that save them costs on fuel and electric vehicle charges using Visa's commercial-card offerings."

Edenred Essentials supports all needs of a modern fleet including fuel, EV charging, in-store purchases, vehicle registration, tolling, car washes, maintenance and other day-to-day payment needs - all with real-time and easy to use advanced controls. Supported by a modern platform that manages information in languages including English and Spanish, the Edenred Essentials solution also provides an outstanding and seamless customer experience that saves time and optimizes efficiency for all clients, especially SMEs.* Companies can also benefit from a cashback rewards program that saves money by fueling up in thousands of gas stations around the country.

Edenred Essentials is backed by Edenred's 50 years of experience servicing 900,000 clients globally, leveraging the company's leading position in the Fleet & Mobility market world-wide including #1 in Latin America (Mexico, Brazil) and #4 in Europe. Edenred runs more than 80 programs world-wide that facilitate and optimize work-related vehicle and mobility expenses for companies.

Key benefits of Edenred Essentials:

• Improves Efficiency – with an easy-to-use bilingual, mobile-first interface, it reduces the time company administrators spend reviewing fuel and fleet transactions and manual reports. It allows drivers quick connections to their managers while on the go, helping them spend less time at the pump and focusing more on getting to the next job site.
• Reduces Costs – fees are predictable and transparent. It's easy for administrators to set spending controls and to curb misuse with real-time controls and notifications.
• Empowers Workforce – with seamless functionality between desktop and mobile applications (iOS and Android), decisions can be easily made while on the go, deepening trust between management and workers in the field, further empowering employees to do their jobs more efficiently and autonomously.
• Universal Acceptance – employees can make purchases for fuel and EV charge, maintenance, car washes, tolls and in-store convenient purchases anywhere Visa is accepted.

For more information, visit www.edenredessentials.com.

About Edenred

Edenred, the everyday companion for people at work, is a leading digital platform for services and payments which connects over 50 million users and 2 million partner merchants in 45 countries via approximately 900,000 corporate clients.

Edenred offers specific-purpose payment solutions for food (such as meal benefits), incentives (such as gift cards, employee engagement platforms), mobility (such as multi-energy, maintenance, toll, parking and commuter solutions) and corporate payments (such as virtual cards).

True to the Group's purpose, "Enrich connections. For good.", these solutions enhance users' well-being and purchasing power. They improve companies' attractiveness and efficiency, and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and softer mobility.

Edenred's 10,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day.

In 2021, thanks to its global technology assets, the Group managed close to €30 billion in business volume, primarily carried out via mobile applications, online platforms and cards.

Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good and MSCI Europe.

The group focuses continuously on product and technology innovation to provide a first-class user experience for fleet managers and drivers. Edenred recently launched UTA EasyFuel for mobile pay-at-the-pump transactions and announced a partnership with ChargePoint, a leading electric vehicle charging network provider in Europe. It also leverages on data and artificial intelligence to provide fleet managers in Latin America with dashboards, customized maintenance plans and dedicated mobile apps through the GoHub and TED solutions, allowing them to optimize their route, cost, while minimizing their environmental impact.

The logos and other trademarks mentioned and featured in this press release are registered trademarks of Edenred S.E., its subsidiaries or third parties. They may not be used for commercial purposes without prior written consent from their owners.

*Based on Visa Transaction Data (Sep 2020 to Aug 2021).

CONTACT: Marketing, Michelle Karle, michelle.karle@edenred.com; Public Affairs, Alan Knapp, alan.knapp@edenred.com

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SOURCE Edenred

FAQ

What is Edenred Essentials?

Edenred Essentials is a new fleet solution launched by Edenred in collaboration with Visa, designed to streamline vehicle expense management, including fuel and EV charging.

When was Edenred Essentials launched?

Edenred Essentials was launched on August 8, 2022.

How does Edenred Essentials benefit businesses?

It improves operational efficiency, reduces costs, and provides a cashback rewards program for fuel savings.

What payment options does Edenred Essentials provide?

Edenred Essentials supports payments for fuel, EV charging, maintenance, tolls, and other vehicle-related expenses wherever Visa is accepted.

What is the collaboration between Edenred and Visa?

This partnership aims to enhance digital payment solutions for fleet management, leveraging Visa's payment technology.