Shell Oil Company has acquired MSTS Payments, LLC and its Multi Service Fuel Card business from Multi Service Technology Solutions, Inc.
The Fuel Card acceptance network and transaction processing platform gives Shell a closed-loop payment network used by Commercial Road Transport companies at thousands of truck stops in North America.
MSTS Payments will operate as a wholly owned subsidiary of Shell Oil Company. The investment into the Multi Service Fuel Card business includes growing market share in the fuel card space and creates synergies with existing Shell product offerings.
“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, general manager of Shell Commercial Road Transport, Sectors & Decarbonization.