1. PIN-Based Transactions
One of the primary security features of WEX fuel cards is the requirement for a unique Personal Identification Number (PIN) for each transaction. This ensures that only authorized drivers can use the card, reducing the risk of theft or misuse. Unlike traditional credit cards, which can be swiped and used by anyone, WEX fuel cards require a valid PIN, adding an extra layer of security.
2. Real-Time Purchase Controls
WEX fuel cards give fleet managers the ability to set purchase controls that limit when, where, and how much fuel drivers can buy. These controls can include:
• Limits on the number of transactions per day
• Time-of-day restrictions
• Day-of-week restrictions
• Fuel type restrictions
• Gallon limits per transaction
• Dollar limits per transaction
By implementing these controls, businesses can reduce unauthorized spending and ensure that fuel purchases align with company policies.
3. Driver ID and Vehicle Tracking
Every WEX fuel card can be assigned to a specific driver or vehicle, providing an added layer of accountability. When making a purchase, drivers must enter their unique Driver ID, which links each transaction to a specific user. This feature not only prevents unauthorized use but also allows fleet managers to track fuel usage by driver, helping to identify unusual or fraudulent activity.
4. Exception Reporting and Alerts
WEX offers advanced reporting tools that help fleet managers detect potential fraud or misuse. Exception reports highlight any unusual transactions, such as fuel purchases exceeding tank capacity or multiple transactions within a short time frame. Additionally, businesses can set up real-time alerts to notify managers of suspicious activity, allowing for immediate action to prevent further unauthorized transactions.
5. Secure Online Account Management
WEX provides a secure online portal where fleet managers can monitor fuel card activity in real time. This platform allows businesses to:
• View detailed transaction data
• Adjust purchase controls
• Issue or deactivate cards instantly
• Generate security reports
The online portal also offers multi-factor authentication (MFA), ensuring that only authorized personnel have access to sensitive account information.
6. EMV Chip Technology
To enhance security, WEX fuel cards are equipped with EMV chip technology, which provides better protection against card skimming and cloning. EMV chips generate a unique transaction code each time the card is used, making it nearly impossible for fraudsters to duplicate the card for unauthorized use.
7. Fraud Prevention and Detection Tools
WEX employs advanced fraud detection technology that continuously monitors fuel transactions for suspicious activity. The system uses machine learning and artificial intelligence to analyze purchasing patterns and detect anomalies. If a potentially fraudulent transaction is detected, WEX can automatically flag it for review or temporarily suspend the card to prevent further misuse.
8. Lost or Stolen Card Protection
In the event that a WEX fuel card is lost or stolen, businesses can quickly deactivate the card via the online portal or by contacting WEX customer support. Additionally, because PIN authentication is required for all transactions, lost or stolen cards cannot be easily used by unauthorized individuals.
