NORCROSS, Ga.--(BUSINESS WIRE)--Sep. 25, 2014-- FleetCor Technologies, Inc. (NYSE:FLT), a leading global provider of fuel cards and workforce payment products to businesses, announced today the successful conversion of Shell’s SME Fuel Card Customer Portfolio in Germany to its full outsourcing services.
Under the terms of the agreement, FleetCor is responsible for a full outsourcing arrangement for Shell’s SME fuel card customers, including sales and marketing to specific fleet segments and processing, servicing, and billing the acquired customer base. FleetCor has the exclusive rights to sell new fuel card accounts in specific fleet segments in Germany, to further build the business.
“We’re excited to announce that we are officially live in Germany as the outsource provider for Shell’s SME portfolio,” said Ron Clarke, FleetCor Chairman and CEO. “We are thrilled to be entering the world’s fifth largest fuel market, and look forward to working with Shell in additional European markets.”
As previously disclosed, FleetCor signed a European framework agreement which outlines a broader expansion plan covering the potential acquisition of part of Shell’s fuel card portfolios in up to 12 additional markets in Europe.
FleetCor is a leading global provider of fuel cards and workforce payment products to businesses. FleetCor's 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. FleetCor serves commercial accounts in North America, Latin America, Europe, Australia and New Zealand. For more information, please visit www.fleetcor.com.
Source: FleetCor Technologies, Inc.