Multi Service Technology Solutions (MSTS) was founded in 1978 by a former fleet owner who knew there had to be a better way for fleet owners to pay for fuel than a pocket full of cash and oil cards. From that belief came the Multi Service Fuel Card, our first product which disrupted the way the trucking industry purchased fuel.
Using our business payment problem-solving ideas and technical expertise, the company began to grow. We established our headquarters in Overland Park, Kansas, for its central location. Our key innovation milestone was the development of the first live electronic authorization of a Credit Card from a truck stop, which allowed drivers to quickly and easily refuel. By 1987, we began processing our private label program in manufacturing for Navistar Fleet Charge. By the end of the decade, we opened offices in London and branched out into the aviation industry with the launch of AvFuel, the first aviation private label Charge Card, including Mastercard, Visa and American Express.
Throughout the 1990s and the turn of the millennium we expanded our operations and continued to innovate, receiving ANSI ISO number 7000 for our fleet cards, the first card scheme issued in the petroleum industry. We also opened our Australian development offices and established our European headquarters in the Netherlands.
We began bankcard processing for trucking private label programs, simplifying credit acceptance and helping our customers transact while on the road. We also established an online authorization solution with VisaNet, providing our customers with the ability to boost sales and customer loyalty. In 2008, we entered the retail technology space with a private label program that included branded full-service support, underwriting, collections, and billing and payments solutions for Best Buy. By 2013, MSTS became a wholly-owned subsidiary of World Fuel Services Corporation, a Fortune 100 company.
We established our B2B eMarketplace in Australia and can proudly say our credit decisioning tool processed applications in under a minute. We were also awarded 24 of the International Air Transport Association’s (IATA) Billing and Settlement Plan (BSP) markets to deliver a cost-effective e-wallet solution that allows for greater payment flexibility for travel agents and faster, more secure payments to airlines.
In an age of instant, automation is king. That’s why we have unveiled Credit as a Servicetm (CaaS) to accelerate business commerce through a suite of applications and services that allow companies access to robust payment and credit solutions, sophisticated managed services and expert driven integrations to power today’s global commerce.