Shell Oil Company (Shell) has acquired MSTS Payments and its Multi Service Fuel Card business from Multi Service Technology Solutions, Inc., according to the company's press release.
The Multi Service Fuel Card acceptance network and transaction processing platform provides Shell with a closed-loop payment network used by Commercial Road Transport (CRT) companies at thousands of truck stops in North America.
“Acquiring the Multi Service Fuel Card business provides Shell with the necessary technology, business infrastructure and talent to accelerate the growth of its global commercial cards business, Customer Value Propositions (CVPs) and services,” said Tim Murray, GM of Shell Commercial Road Transport, Sectors & Decarbonization. “We are confident that this strong IT platform and acceptance network will help us deliver a customer experience that will translate to additional growth for Shell’s North America Commercial Road Transport businesses.”
MSTS Payments will operate as a wholly owned subsidiary of Shell Oil Company and will remain homebased in Overland Park, Kansas. Aaron Decker, who led the Multi Service Fuel Card business for Multi Service Technology Solutions, will continue to do so as part of the MSTS Payments management team.
“We’re very excited about the opportunity provided by Shell to help the fuel card business realize its full potential,” said Decker. “We’re equally excited to help Shell grow its Commercial Road Transport business.”
The investment in the Multi Service Fuel Card business includes growing market share in the fuel card space and creating synergies with Shell product offerings.
Shell said it plans to add services to enhance the customer experience and leverage its heavy duty diesel engine oil brand, Shell Rotella, to offer trucking fleets fuel-economy savings, extended-drain capability, enhanced engine cleanliness, and wear protection.