Advances STP’s Acceptance Network Beyond Toll
PEACHTREE CORNERS, Ga.--(BUSINESS WIRE)--Oct. 4, 2018-- FLEETCOR Technologies, Inc. (NYSE: FLT), a leading global provider of commercial payments solutions, announced today that the Company signed a contract with Estapar, Brazil’s leading parking facilities operator, to install STP’s electronic payment system in approximately 600 new parking lot locations. Estapar will begin accepting FLEETCOR’s RFID-enabled payments at many of its parking locations around the country.
This agreement will expand STP’s parking lot acceptance network to over 1,000 locations nationwide, including malls, hospitals and sports arenas. The Company continues to execute on its strategic transformation “beyond toll” by building out its parking and fuel acceptance networks. Its roughly five million users will now have the added convenience to access a significant number of fueling sites (at Shell and BR gas stations) and parking facilities across Brazil.
“We are delighted to ink this deal with Estapar, and to provide our customers an easier way to pay at locations across Brazil,” said Ron Clarke, FLEETCOR Chairman and CEO. “We are continuing to progress our efforts to widen STP’s electronic payment acceptance network beyond toll, to attract more urban users to our customer base.”
The installation at Estapar sites will begin immediately, and is expected to be completed in the first quarter of 2019.
FLEETCOR Technologies (NYSE: FLT) is a leading global provider of commercial payment solutions. The Company helps businesses of all sizes better control, simplify and secure payment of their fuel, toll, lodging and other general payables. With its proprietary payment acceptance networks, FLEETCOR provides affiliated merchants with incremental sales and loyalty. FLEETCOR serves businesses, partners and merchants in North America, Latin America, Europe, and Australasia. For more information, please visit www.FLEETCOR.com.
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