Payment solutions represent the majority part of our business and include a secure means of energy payment through pre- or post-paid fuel cards and toll payments. This is often the first introduction customers have to our services.
As of the end of 2022, we serve approximately 88,189 active payment solutions trucks and process approximately 35.2 million payment solutions transactions.
We also offer mobile payments or alternative authorisation methods, such as bring your own device.
In addition to our closed-loop payment means (fuel cards), we also encourage customers to use our open-loop Eurowag Mastercard card. This allows us to provide liquidity solutions tailor-made for each customer.
Eurowag was founded on bulk purchasing of traditional fuel and transporting it to truck refuelling location across Europe. Over the last 27 years, Eurowag has built-up its presence through adding acceptance points and bunkering sites across Europe's main truck transport corridor, known as the Trans-European Transport Network (TEN-T), supplying both traditional energy and alternative fuels.
The TEN-T corridor is important to us, as it allows us to build our coverage across Europe. Refuelling sites near country borders are equally important to our customers, as international trucking companies can take advantage of cross-border price differences.
Eurowag continues to focus on expaning its presence in key markets, as well as entering new markets.
Each European country has its own tolling system and regulations, with around 130 different toll chargers across the continent. Cross-border drivers often need a variety of on-board units (OBUs) and payment solutions. Our toll payment solutions, like our energy payment solutions, allow customers to pre-pay or post-pay for their toll payments on European tolled-road networks.
European Electronic Tolling Service (EETS)
The EU steadily increases the requirements for European member states to comply with EETS, aiming to create a harmonised EU-wide toll system to simplify the administrative burden and reduce the associated costs.
We have taken the opportunity to built a proprietary EETS toll payment solution that, from the onset, integrates with our other services, such as fleet management, fraud prevention, and fuel payment. This creates a growing market opportunity, with barriers to entry for competitors, and expansion potential both on the tolling network and through cross-sales to our customers of other services.
This OBU, usually associated with a specific national toll domain, helps record the number of tolled drives and supports enforcement by national authorities. In the past, international trucks had to use a variety of OBU devices in a single trip. The EETS scheme enables a single OBU to be used across different countries - with one contract, one device and one invoice.