Flagship has observed a surge of interest in the B2B mobility space over the past year, driven by several factors: the growing popularity of EVs, the introduction of Visa Fleet 2.0, the lack of product differentiation amongst traditional providers paving the way for new entrants, and the rising adoption of embedded payments in verticalized SaaS and fleet management software.
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A Complex and Rapidly Evolving Sector
The mobility and transportation needs of corporate customers have always been more intricate than those of private drivers. Businesses often need a diverse fleet that includes passenger cars, as well as light commercial vehicles and trucks. Additionally, they might require specialized items such as fuel cards, telematics systems, fleet management software, and tax services.
These multifaceted needs have led to the development of an advanced mobility payments ecosystem, featuring fuel and energy cards, financial solutions, and a range of mobility services (such as, field scheduling, driver and fuel management, and route planning). Other services are emerging and disrupting the B2B mobility sector; for example, autonomous vehicles, mobility operating systems, smart parking, and Mobility-as-a-Service.
B2B M0bility Providers are Diverse and Evolving
B2B mobility providers play within a dynamic and sophisticated ecosystem that is rapidly evolving and expanding:
While payment providers have successfully expanded into close adjacencies and B2B payments, fuel retailers are still refining their offerings, often hindered by legacy tech and complex systems. On the other hand, auto manufacturers have teamed up with payment providers to start offering in-vehicle payments. Moreover, emerging mobility providers, characterized by diverse business models, segment focuses, geographies and technologies, are rapidly gaining market share. We observe several key trends poised to shape the future for the B2B mobility sector (EV adoption, spend management, embedded payments, integration of fuel and EV charging payments, integrated ecosystems).
In such a rapidly evolving market, all major players (fuel retailers, OEMs, technology providers in particular) must be prepared to address and capitalize on the opportunities presented by new technologies and emerging trends.
Please do not hesitate to contact Erik Howell at Erik@FlagshipAP.com and Emilia Cavallini at Emilia@FlagshipAP.com with comments or questions.