PHH Arval, a subsidiary of PHH Corp., introduced PHH E*Toll Funds Management, a product that gives companies a uniform means of paying and tracking toll expenses incurred by their fleet drivers.
The service can also reduce violations costs that result from E*Toll accounts that do not have enough funds to cover toll charges.
An E*Toll (electronic toll) collection system allows vehicles to continue through toll stations without stopping or having to have cash in hand. Typically, fleet drivers set up pre-paid accounts for particular electronic toll agencies using personal or corporate credit cards. Whenever a driver uses a toll facility, a deduction is made from the account in the amount of the toll. Once a pre-determined level is hit, the account automatically "replenishes" with a charge to the credit card on file.
If drivers under-fund or default on a credit card account, fines result when they use electronic toll facilities, which can prove costly to the company. An additional challenge is that when drivers use expense reports to reimburse these accounts, their companies find it difficult to track actual transportation/toll expenses and understand their total cost picture.
The program can be applied at any U.S. E*Toll agency that accepts credit card payments. Fleet managers can track actual fleet spend related to E*Tolls through PHH InterActive and pay for these expenses through consolidated billing.
More info: www.phh.com
The service can also reduce violations costs that result from E*Toll accounts that do not have enough funds to cover toll charges.
An E*Toll (electronic toll) collection system allows vehicles to continue through toll stations without stopping or having to have cash in hand. Typically, fleet drivers set up pre-paid accounts for particular electronic toll agencies using personal or corporate credit cards. Whenever a driver uses a toll facility, a deduction is made from the account in the amount of the toll. Once a pre-determined level is hit, the account automatically "replenishes" with a charge to the credit card on file.
If drivers under-fund or default on a credit card account, fines result when they use electronic toll facilities, which can prove costly to the company. An additional challenge is that when drivers use expense reports to reimburse these accounts, their companies find it difficult to track actual transportation/toll expenses and understand their total cost picture.
The program can be applied at any U.S. E*Toll agency that accepts credit card payments. Fleet managers can track actual fleet spend related to E*Tolls through PHH InterActive and pay for these expenses through consolidated billing.
More info: www.phh.com
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