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Product update

What is Pay at Pump?

2 December 2021  |  4 minutes read

What is Pay at Pump?

Pay at Pump is the system that allows you to pay for your fuel directly at the pump’s card reader, instead of going into the shop at the petrol station. No need to get out of the car.
It’s becoming more popular across the UK and Europe – and it hasn’t gone unnoticed at Soldo.

How does it work?

When you use Pay at Pump, an amount of money is temporarily reserved on your Soldo fuel card. This is known as a pre-authorisation, and it ensures you have sufficient funds to afford the fuel. When you finish refuelling, you are only charged for the actual amount of fuel you have purchased.

The remainder of any reserved funds will be released back to the available balance on your Soldo fuel card, after the payment has been processed. In most cases, it can take up to one hour to process a pay-at-pump transaction.

What has changed?

The pre-authorisation amount has increased to £99.

This means that Soldo will temporarily reserve up to £99 of the available balance on your card, while you fill up your tank. This pre-authorisation amount is now a lot higher than it used to be.

How can I ensure I always have at least £100 on my Soldo fuel card?

There are a couple of handy Soldo features you can use to ensure your drivers always have enough money on their cards to pay for fuel. Follow the instructions and stay one step ahead.

  1. Set up an automatic transfer when the balance of the card drops below £100.
    • Click on Users on the left menu and select the relevant user
    • Click on the Transfer tab and select Minimum balance
    • Input the card balance amount (Set balance to) and transfer trigger amount (when it is lower than – e.g., £100)
    • Click Save

  2. Set up a minimum balance email alert to warn the card holder when the balance drops below a certain amount.
    • Click on Users on the left and select the relevant user
    • Click on the Alerts tab and select Minimum balance alert
    • Input the amount (When balance is below) and add relevant users
    • Click Save

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The financial services provided to customers resident in or with registered office in the UK are provided by Soldo Financial Services Ltd., a company incorporated in the UK with company number 09495650, whose registered office is 119 Marylebone Road, London, NW15PU, United Kingdom, authorised as an Electronic Money Institution by the Financial Conduct Authority (firm registration number 900459). Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. The card is issued by Soldo Financial Services Ltd pursuant to a licence issued by Mastercard International Inc. Soldo Financial Services Ltd. (data protection number: ZA147304) complies with all applicable data protection and privacy legislation in force from time to time in the UK and the EU including the General Data Protection Regulation ((EU) 2016/679) and the Data Protection Act 2018. All communications related to financial services provided by Soldo Financial Services Ltd shall be sent to Soldo Financial Services Ltd., 119 Marylebone Road, London, NW15PU, United Kingdom.