Global firms team up to offer payment solution for fleet operators

They aim to provide a solution that offers secure payments for fleet management companies and help prevent fraud

Mastercard

Global firms team up to offer payment solution for fleet operators. Source: shutterstock.com

Mastercard has announced its new partnership with Payment24, a South African based Fleet fuel management firm.

This partnership will allow Payment24 to use Mastercard’s payment technology which will enable fleet drivers to make seamless fuel payments securely worldwide. This payment transaction will not require additional approvals at the moment.

Their collaboration is aimed to help commercial fleet management firms to have better control over the driver’s spendings with an additional option to add purchasing controls which will help eliminate fraud.

The South African Fleet companies have fleets of all sizes. While many payment programs have tried to solve the transaction problem of fleet companies, many of them were only able to allow drivers to pay at specific fuel pumps in the country.

Since fleet companies are increasingly trying to shift online and digitizing their business for ease of access and cost-saving, this secure payment method will play a critical role to reduce fraud and improve the visibility of the transactions. Each of the transactions made via this service will be protected by Mastercard’s impeccable multiple security systems against fraud and disputes.

We’ve reported that Mastercard’s Vocalink will be the solution provider for clearing and settlement in Canada’s recent real-time emolument plan, the Real-Time Rail.

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