Bestpass announced its newly launched Leased Equipment Toll Solution (LETS), a customizable toll management service for leased equipment providers, including not only tractors and trailers, but also other vehicles of all shapes and sizes.
Traditionally providing single-source payment and streamlined national toll management service to commercial trucking fleets, launching LETS allows Bestpass to engage a sizeable new market. The new solution includes features such as seamless rebilling from lessor to lessee; the ability to transfer transponders from leased provider to customer accounts and back again; and the ability to customize and white label the Bestpass service according to each leased provider’s needs. Bestpass has already deployed LETS as part of a pilot program with a leading national leased service provider.
“LETS is a win for everyone involved,” said John Andrews, President and CEO of Bestpass. “The leased equipment providers save a substantial amount of time dealing with toll while adding a great deal of value to their customers. The lessees get coast-to-coast toll coverage, as well as a comprehensive and accurate accounting of their toll. And the tolling authorities benefit by a reduction in violations and a guarantee in payment through their existing relationship with Bestpass, which last year processed more than $450 million in toll.”
Lessees who are existing Bestpass customers will have the option to seamlessly transfer transponders in their leased vehicles to their Bestpass account for the duration of the lease, further simplifying toll tracking and management and allowing the customer to retain their regular Bestpass discounts, account fees and features. All LETS customers will have access to national toll coverage via Bestpass, including 100% of the major U.S. toll roads and more than 40 tolling groups.
Bestpass currently has nearly 4,000 customers with more than 300,000 transponders on the road and is processing approximately $1.5 million in toll every day. To date, the company has saved its customers more than $65 million in toll-related costs, including significant back-office toll management time and effort.