PEACHTREE CORNERS, Ga. — Fleetcor Technologies, Inc., a global commercial payment solutions provider, has made a strategic minority investment in P97 Networks Inc., a cloud-based mobile commerce and behavioral marketing solutions provider. P97’s program enables the acceptance of mobile payments at the pump and in stores by using existing point-of-sale and cash-register systems without requiring retrofitting.
In addition to the investment, Fleetcor has signed a commercial agreement to use P97’s technology for Fleetcor’s U.S. fuel-card programs. The partnership is intended to drive the adoption of mobile payments among Fleetcor’s existing customers, cardholders and oil company partners through delivery of a modern, robust, app-based customer experience. Together the companies will deploy mobile-payment applications, as well as explore the use of existing P97 functionality such as the authorization of in-store purchases and delivery of personalized offers directly to drivers through an app.
“We believe this investment and strategic partnership is an exciting way to ramp up mobile usage in our fuel-card category and secure our place as a leader in the mobile fuel card payment space,” said Ron Clarke, Fleetcor chairman and CEO. “We look forward to working closely with P97 to further our common goal of driving payments innovation within the petroleum industry.”
“We are thrilled to have Fleetcor on board as a strategic partner as we continue our charter to advance mobile commerce for convenience-store operators, marketers and oil companies,” said P97 founder and CEO Don Frieden. “We look forward to collaborating with the Fleetcor team to provide new mobile experiences for their customers and drivers while exploring the transformative potential of mobile payments across the petroleum industry.”
Fleetcor Technologies, based in Peachtree Corners, Ga., works with businesses of all sizes to better control, simplify and secure payment of their fuel, toll, lodging and general payables.
P97 Networks, Houston, creates mobile commerce solutions for the retail fueling industry with its cloud-based mobile platform and contextual commerce engine.