WEX (NYSE: WEX) announced the general availability of SecureFuel, an AI-powered fraud prevention tool for its North American commercial fleet customers, with a rollout to eligible customers scheduled to begin August 3.

SecureFuel combines fleet card transaction data, real-time vehicle location from telematics systems, and AI models to identify and block potentially unauthorized fuel purchases before they are approved. WEX's closed-loop network covers approximately 95% of U.S. fuel stations and captures purchase details including fuel quantity, fuel type, and merchant location.

According to the National Association of Fleet Managers, fraud and misuse can account for as much as 12% of a business's total fuel spend. WEX processes approximately 30 million fleet transactions per month.

"Fraud prevention is only as strong as the information behind each decision," said Carlos Carriedo, chief operating officer, Americas Payments and Mobility at WEX. "SecureFuel gives us a more complete view of each purchase, assisting customers stop unauthorized transactions without creating unnecessary disruption for drivers."

Customers can activate SecureFuel through the WEXOnline platform using telematics provided by WEX or supported third-party providers. WEX is a Geotab Premier Partner, allowing existing Geotab users to connect vehicle data to the tool.

WEX made the announcement at its third annual North American Mobility Summit in Portland, Maine. The company also previewed a separate feature called Actionable Insights, currently in beta, which uses AI to surface recommendations from transaction and fleet data.