In a groundbreaking move, AtoB, the fintech payments platform dedicated to modernizing the financial landscape of the trucking industry, has proudly announced its exclusive partnership with Mastercard. This strategic collaboration positions Mastercard as the sole payments network for AtoB’s commercial credit card program, aiming to revolutionize payment processes within the trucking sector and enhance the lives of operators and drivers who play a crucial role in the global economy.
Trucking stands as a pivotal segment, responsible for transporting over 70% of goods in the U.S., emphasizing the importance of efficient financial solutions for this industry. Fleet managers encounter unique payment challenges, necessitating specialized fleet card products. AtoB addresses these needs through its tailored suite of tools, offering no-fee fleet cards, instant direct-deposit payroll, access to bank accounts, and savings tools. The AtoB Fuel Card, boasting discounts of up to 84 cents per gallon and cutting-edge analytics, ensures enhanced security and efficiency for small businesses.
Vignan Velivela, Co-founder and CEO at AtoB, expressed enthusiasm about the collaboration, stating, “This new partnership with Mastercard will accelerate our commitment to delivering modern payment and logistics tools to help fleet managers track spending, save money, and strengthen overall fleet performance. Through AtoB’s new partnership with Mastercard, we will continue to deliver digital resources and advanced systems that foster digital transformation for the trucking industry.”
Sherri Haymond, Executive Vice President, Digital Partnerships at Mastercard, emphasized the significance of digitization in the freight sector, saying, “Over the past few years, supply chain challenges have demonstrated our global reliance on the freight sector and reinforced the importance of digitization in this space. Through Mastercard’s new partnership with AtoB, we will leverage our expertise, technology, and innovative thinking to enhance AtoB’s fuel card program and deliver innovative payment experiences that will unlock more value for operators and drivers alike.”
The collaboration aims to boost efficiencies for fleet customers by leveraging Mastercard’s network, technology, and services. Key initiatives include enhancing security through advanced cyber and intelligence solutions, enabling faster payments with Mastercard Send for secure, near real-time transfers, and providing deeper discounts through automatic enrollment in Mastercard Easy Savings.
Lance Thayer, CEO of J & L Line Services, praised AtoB for delivering exceptional fuel discounts and industry-leading data tools. “The company’s reporting tools and 24/7 support have helped us reduce total fuel costs and save thousands per driver, in addition to streamlining processes for our finance teams.”
The rollout of the innovative card system is set to commence in the first half of 2024, with existing customers receiving their new Mastercard cards by mail. During this transition, existing cards will remain operational until the activation of the new cards, ensuring a seamless experience for all stakeholders in the trucking industry.
AtoB and Mastercard have partnered with Highnote, a modern embedded finance platform, to power the AtoB fuel card program. For more information on Highnote, visit: www.highnote.com.
About AtoB
AtoB was founded in 2020 with the mission to transform the fleet industry’s financial infrastructure. AtoB’s groundbreaking fintech payments platform provides drivers and fleet operators with easy-to-use financial products such as no hidden fees; instant direct-deposit payroll; and access to bank accounts and savings tools in order to provide ease on the road and network efficiencies. AtoB is a member of the World Economic Forum’s Global Innovators Community and is on Forbes’ Next Billion-Dollar Startup 2022 list. For more information, visit atob.com.