July 2023 | BUSINESS FLEET AFRICA
WWW.BUSINESSFLEETAFRICA.CO.ZA
secure transactions and reducing the
risk of fraud.
Fleet payment platforms built on
blockchain provide end-to-end visibility
of transactions, streamline auditing pro-
cesses, and enable instant settlements.
This technology also opens doors for
innovative payment models like smart
contracts, enabling automated pay-
ments based on predefined conditions.
The concept of Mobility-as-a-Service
(MaaS) is also gaining traction, reshap-
ing the way transportation services are
accessed and paid for. Fleet payments
are no longer limited to individual
transactions; they are becoming an
integral part of the comprehensive
mobility solution.
MaaS platforms integrate multiple
transportation options, including
ridesharing, car sharing, and public
transit, providing users with a seamless
and unified payment experience. This
shift towards integrated payment
systems promotes multimodal transpor-
tation and encourages sustainable fleet
management practices.
“As fleet payments become increas-
ingly digital, the wealth of transactional
data generated presents an opportu-
nity for advanced data analytics and
reporting. Fleet managers can harness
this data to gain insights into spending
patterns, identify cost-saving opportuni-
ties, and optimise resource allocation,”
says Derick de Vries, Executive Head of
Standard Bank Fleet Management.
Robust reporting tools and custo-
misable dashboards empower fleet
operators to make data-driven decisions,
measure key performance indicators,
and evaluate the financial health of their
operations.
While the evolution of fleet pay-
ments brings forth numerous benefits,
it also poses certain challenges and
considerations. As digital payment
methods become prevalent, ensuring
robust security measures and fraud
prevention mechanisms becomes
imperative. Integrating diverse payment
systems, telematics platforms, and MaaS
solutions may require careful planning
and collaboration between stakeholders
to overcome technical and operational
challenges.
Fleet payment providers need to nav-
igate evolving regulatory frameworks,
data protection regulations, and privacy
laws to ensure compliance and protect
customer information. Fleet operators
must also invest in user education and
training to ensure a smooth transition
to new payment methods and tech-
nologies, minimising resistance and
maximising the benefits of the evolving
landscape.
The future of fleet payments
As the fleet payments industry continues
to evolve, Standard Bank has introduced
the Visa Fleet Card, a reliable and
secure payment option equipped with
advanced Chip-and-PIN technology.
Each card is equipped with an
embedded microchip that encrypts
transaction data, significantly reducing
the risk of fraud or unauthorised use.
This advanced technology adds an extra
layer of protection, giving fleet man-
agers peace of mind when it comes to
payment security.
To generate accurate statistics and
data about running costs, the Visa
Fleet Card provides a dedicated card
for each driver or vehicle in the fleet.
This vehicle-specific approach allows
fleet managers to monitor individual
expenses, track fuel consumption,
and identify areas of possible cost
optimisation.
“By having precise insights into
running costs at driver or vehicle level,
fleet managers can make informed de-
cisions to improve efficiency and control
expenditures,” adds de Vries.
Every driver issued with a Visa
Fleet Card receives a unique Personal
Identification Number (PIN). This PIN
serves as an additional layer of security,
ensuring that only authorised drivers can
access and use the cards.
By requiring a PIN for card trans-
actions, fleet managers can mitigate
the risk of unauthorised spending or
fraudulent activities, maintaining the
integrity of their fleet budget.
The Visa Fleet Card offers fleet man-
agers the ability to view and approve
card transactions online in real-time.
This feature allows for immediate
oversight of expenses, reducing the
administrative burden associated with
reconciling paper-based receipts.
Real-time monitoring ensures
transparency and empowers fleet
managers to proactively manage fleet
expenditures, promptly addressing any
anomalies or unauthorised transactions.
The Visa Fleet Card streamlines
payment processes for a wide range of
fleet-related expenses. Fleet managers
can use the card to pay for fuel, oil, tolls,
repairs, and maintenance services, all
through a single payment solution.
By consolidating these expenses onto
one card, fleet managers gain better
control over costs and simplify the pay-
ment process for drivers, eliminating the
need for cash or personal credit cards.
The Visa Fleet Card can be seamlessly
linked to additional value-added services
offered by Standard Bank. These services
include fines and licensing management,
roadside assistance, driver training,
telematics solutions, and other special-
ised offerings. BFA