RXO (NYSE: RXO) shares advanced early Wednesday, as the leading provider of asset-light transportation solutions, launched a prepay capability through the RXO Fuel Card. The new prepay solution enables drivers to plan their fuel spend and more effectively maintain their budgets.
Carriers can preload funds to the RXO Fuel Card using their personal credit or debit card. Additionally, the new pay-as-you-go option has a quick approval process, no setup fee and allows drivers to take advantage of RXO’s Fuel Card discounts. Carriers can easily access the prepay interface via RXO Connect™, RXO’s proprietary platform for shippers and carriers.
“RXO is committed to providing our carrier network with solutions that make their business more efficient and profitable,” said Lou Amo, president of RXO’s truck brokerage business. “The prepay capabilities give carriers added flexibility to save even more on a significant cost component of their business.”
Other benefits of RXO’s Fuel Card include fuel discounts, with an average of $0.48 per gallon. The card is widely accepted at more than 9,000 locations nationwide without any minimum gallon requirements. Fuel card members also benefit from the RXO Extra discount marketplace including savings on maintenance services and tires.
RXO shares tacked on 23 cents to $28.99.
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