Global market card payment leader, Mastercard has entered into a partnership agreement with South Africa’s Payment24 aimed at offering a payment solution that will help fleet management companies streamline payments, create efficiencies and prevent fraud. Payment24’s platform will use Mastercard’s payment technology which is expected to enable drivers to quickly and seamlessly make fuel payments anywhere Mastercard is accepted, without requiring additional approvals at the pump.
Commercial fleet management companies will have more control and visibility into driver’s spend, with the option to add purchasing controls to eliminate fraud. For instance, a company could opt to enable the driver to pay digitally for border post charges or for accommodation and meals, removing the need for costly and unsafe cash advances.
The fuel solution is flexible and adaptable to customer needs, with various payment mechanisms available including fleet cards, tokenised tags, e-wallets and vouchers that can be allocated to a driver or a vehicle. Each transaction is protected by Mastercard’s multiple security layers, and fraud and dispute processes.
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“The fleet management industry in South Africa is comprised of fleets of every size and description. While a variety of payment programmes have emerged over the last few years, most of these allow drivers to only pay only at selected fuel stations in the country,” says Suzanne Morel, Country Manager at Mastercard South Africa. “Through this collaboration with Payment24, we can solve these pain points and enable seamless and secure payments anywhere Mastercard is accepted, without authorisation delays or troublesome cash. This is especially critical in today’s current environment, where fleet operators are increasingly digitising their businesses to save costs, reduce fraud and improve the visibility of payments.”
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry