OVERLAND PARK, Kan., Sept. 30, 2024 (GLOBE NEWSWIRE) -- Multi Service Fuel Card is pleased to announce the launch of its One-Time PIN (OTP) security feature, now integrated into the Multi Service Fuel Card mobile app.
The FBI estimates that card skimming costs financial institutions and consumers more than $1 billion each year and, according to FICO, the number of cards compromised due to skimming jumped 77% in 2023 compared to 2022.
Designed to protect against fuel card fraud, OTP sends cardholders a unique time-sensitive PIN through the Multi Service Fuel Card mobile app to authorize transactions at the pump. Unlike traditional static PINs, One-Time PINs are generated on the fly and expire quickly making it virtually impossible for criminals to reuse intercepted data.
“Our new one-time PIN feature marks a significant enhancement to transaction security. By providing a quick and secure authentication process, we’re empowering cardholders to protect their accounts with minimal effort,” said Aaron Decker, CEO of Multi Service Fuel Card.
The OTP feature requires an iOS or Android device to operate but is not reliant on Wi-Fi access. “We’ve run a pilot to ensure OTP delivery and point of sale authorization are reliable, fast and effective across the entire merchant network,” Ron Gunderson, Senior Director of Product & Technology, explained. “This update reflects our commitment to protect our cardholders from ever-evolving threats by delivering secure solutions without compromising ease of use.”
The new OTP feature is available now in the Multi Service Fuel Card mobile app on iOS and Android. The feature will be enabled by default for all new Multi Service Fuel Card accountholders. Existing customers can enable it via their account settings.
Along with the OTP roll-out, the latest version of the Multi Service Fuel Card mobile app includes access to recent transactions and AR info for fleet owners leveraging the fuel card.
Users of the app that are not cardholders can still leverage the application to identify truck stops along their route with visibility to retail fuel prices and available amenities at each stop. The latest version includes biometric security on Apple and Android devices for easy login.
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About Multi Service Fuel Card
Multi Service Fuel Card was founded in 1978 by a former over-the-road truck driver who believed there had to be a better way to pay for fuel than a pocket full of cash. From that belief came the first fuel card to offer real-time transaction authorization, forever changing the way fleet owners managed fuel spend. More than four decades later, Multi Service Fuel Card continues to be recognized by its customers as the leading fuel card solution in the trucking industry. Accepted at over 8,900 truck stops of all sizes across the U.S. and Canada, including TA/Petro, Pilot/Flying J, Love’s, regional chains and independent locations. In September 2021, Multi Service Fuel Card was acquired by Shell USA and operates as a wholly owned Portfolio Company. For more information, visit multiservicefuelcard.com, Facebook, or Instagram. To access fuel price information across the network, download the Multi Service Fuel Card mobile app.
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