payments allow for seamless, secure,
and instant transactions. Drivers and
fleet operators can now easily settle toll
fees, fuel expenses, and other logistical
costs through digital platforms. These
payments can be made in local curren-
cies, eliminating the need for currency
conversions and reducing the complexity
of cross-border transactions.
Furthermore, fleet payment solutions
enable real-time tracking of expenses
and transactions, providing fleet
managers with valuable insights into
their operations. This data empowers
them to optimise routes, manage fuel
consumption, and make informed
decisions, leading to cost savings and
improved efficiency.
“Adopting modern fleet payment sys-
tems significantly reduces the reliance
on cash, which can be prone to theft and
mismanagement. By digitising payments,
fleet operators can minimise the risk of
financial losses and streamline financial
processes, thereby increasing overall
cost efficiency,” adds de Vries.
AfCFTA aims to benefit SMEs by al-
lowing them access to a broader market
and trade opportunities. However, these
smaller enterprises often face challenges
when navigating the complexities of
cross-border logistics and payments.
Modern fleet payment solutions level
the playing field for SMEs by offering us-
er-friendly digital platforms that simplify
the payment process, and lower barriers
to entry, enabling them to participate
actively in regional and international
trade. These systems also contribute to
sustainable practices within the freight
and logistics industry. By leveraging data
analytics and real-time monitoring, fleet
managers can optimise routes, reduce
unnecessary fuel consumption, and
lower greenhouse gas emissions.
Additionally, with the increasing
global emphasis on eco-friendly prac-
tices, many fleet payment solutions are
incorporating options for carbon offset
payments and encouraging environmen-
tally responsible behaviour.
In Africa, businesses should aim to
make payments in local currencies when-
ever possible. This helps to reduce the
cost of foreign exchange transactions and
makes it easier for businesses to trade
with each other across the continent.
Electronic payment systems, such as
Fleet cards, are more efficient and reli-
able than traditional payment methods.
Businesses should use electronic payment
systems whenever possible to make
payments to their suppliers and drivers.
A centralised payment system
reduces the administrative burden on
businesses and improves the efficiency
of payments. Businesses should consider
using a centralised payment system if
they have multiple suppliers or make
frequent payments to their suppliers.
As a leading financial institution in
South Africa and a key player in the
African banking sector, Standard Bank is
at the forefront of driving innovation and
supporting economic growth.
“Recognising the immense potential of
modern fleet payments in contributing to
African trade and the success of AfCFTA,
Standard Bank has been actively involved
in developing and implementing cut-
ting-edge solutions for the logistics and
transportation industry,” says de Vries.
For example, Standard Bank has
developed customised fleet payment
solutions that cater to the specific needs
of fleet operators and drivers. These
solutions leverage the latest fintech
advancements and are designed to
facilitate secure, efficient, and real-time
digital payments for toll fees, fuel
expenses, vehicle maintenance, and
other operational costs.
By providing a seamless and
user-friendly payment experience,
Standard Bank empowers fleet opera-
tors to focus on their core business while
streamlining financial processes.
Standard Bank’s modern fleet
payment solutions offer multi-currency
support and facilitate cross-border pay-
ments, simplifying financial transactions
for fleet operators conducting business
across different countries. This enables
smoother trade, fostering economic
integration and aligning with the goals of
the AfCFTA.
Encouraging the adoption of digital
payment technologies enables fleet
operators to transition from cash-based
systems to secure and efficient digital
platforms. This transition reduces the
risk of financial losses due to theft and
enhances transparency and accountabili-
ty in financial transactions.
By recognising the vital role played
by small and medium-sized enterprises
(SMEs) in driving economic growth,
Standard Bank ensures that its fleet
payment solutions are accessible and
scalable, catering to the needs of
businesses of all sizes.
Offering cost-effective and user-
friendly payment options, Standard Bank
empowers SMEs to participate actively
in regional and international trade, thus
promoting inclusive economic growth.
Standard Bank places a strong
emphasis on promoting sustainable
practices within the freight and logistics
industry. The bank collaborates with
fleet operators to leverage data analytics
and real-time monitoring to optimise
routes, reduce fuel consumption, and
minimise the carbon footprint.
“By following these considerations,
businesses can help to ensure that their
fleet payments are efficient, reliable,
and cost-effective. This will help them
to take advantage of the opportunities
offered by the AfCFTA and to grow
their businesses in the African market,”
concludes de Vries. BFA
August 2023 | BUSINESS FLEET AFRICA
WWW.BUSINESSFLEETAFRICA.CO.ZA