Standard Bank Fleet Management in partnership with Visa is proud to announce the launch of the new Standard Bank Visa Fleet Card. To enhance security and peace of mind, the new Standard Bank Visa Fleet cards will be issued with an encrypted chip and PIN solution. This first of a kind for the fleet management industry in South Africa, will bring enhanced security, affordability, and ease to the transaction process.
Fraud on traditional magstripe fleet cards has escalated in recent times, and the impact of which can result in severe business disruption. With no pin capability and very little encryption, the traditional fleet card has become a source of weakness in the payments industry.
By contrast, the Standard Bank Visa Fleet Card with pin verification and encryption provides a level of security that is consistent with the latest payment capabilities in the market. This provides business owners and fleet managers with peace of mind in knowing that drivers can transact with greater levels of security that prevents fraudulent activity from taking place.
“The pandemic environment has spurred demand for home delivery, which has prompted businesses to gear up to provide home delivery, or beef up existing fleets,” notes Derick de Vries, Executive Head of Standard Bank Fleet and Card Management. “There are however risks associated with managing a fleet that if not provisioned for could impact the business’s bottom line.”
This is especially critical at a time when many companies are still feeling the negative effects of the pandemic and looking for ways or areas to implement cost-saving actions.
In recognition of these challenges, Standard Bank launched the new fleet card, which provides a way to bring down the overall costs of managing a fleet. In addition to enhanced security, the card boasts reduced transaction fees while providing access to critical fleet data, in user-friendly manner, through USSD or via the Standard Bank Mobile App. The streamlining and digitisation of what was previously a manual process can help fleet owners save money and time.
“The pandemic has forced every one of us to become more digital in the way we communicate, consume and conduct business,” De Vries comments. “Within the fleet management space, we have been fast-tracked to think differently and consider how we can better leverage technology like data and analytics moving forward. Access to rich, real-time data can help businesses to become more responsive and adapt faster. These insights derived from this data empowers business owners to make informed decisions that ultimately work to boost efficiency and reduce costs.”
The risk of virus transmission adds another layer of complexity for business owners managing fleets. Drivers will be at risk for example, should they need to pay for expenses such as fuel or tolls with cash. With the tap-and-go functionality of the new card, drivers can avoid physical contact or the handling of cash.
De Vries says that the new Visa Fleet Card will complement the existing fleet payment offering and that businesses can access depending on their individual fleet requirements.
“A key imperative that remains for Standard Bank has always been to help our customers move their business to greater heights and this new solution allows us to enable that for our clients. The Visa Fleet Card with all its upgraded features will be indispensable to its business clients as it is designed to help business owners and managers gain full control of their fleet. Every day we work to help businesses to unlock their growth. Bank on us and let us drive your success,” he concludes.
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