• Saturday, May 25, 2024
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New card solution promises 20% reduction in fleet management cost


Corporate bodies and discerning individuals can now derive a 20 percent cost saving on fleet management with the introduction of a new card solution from Fleet Masters Limited, a fully owned Nigerian company, in strategic partnership with Zenith Bank Plc. The card solution, according to Fleet Masters, is designed to assist businesses save money through efficient monitoring and management of fuel spend, as well as control of leakages in fueling expenditure. Speaking at a press briefing in Lagos, weekend, Abiodun Olusanya, managing director of Fleet Masters, said the card solution was in line with the Central Bank of Nigeria’s (CBN) cashless initiative.

“We are introducing a new product that was conceived based on the needs of the market. It is the first ever fleet card solution. We have partnered with MasterCard and Zenith Bank Plc to launch this product into the Nigerian market”. According to him, the company is introducing two unique prepaid cards – Standard Card and Privilege Card. “With the Standard Card, the card owner can now enjoy the advantage of third party use thus making the card ideal for drivers. It is enabled for use at PoS (Point of Sale) terminals only and does not allow cash withdrawals”. The Standard Card, according to the Fleet Masters boss is a convenient means of making and receiving payments.

The card, he explained simply transfers money onto the card either online or in the banking hall and “services can be paid without the hassles of the banking hall, bounced cheques, and other risk associated with cash handling.” He went on, customers can get SMS and text alert after each transaction and be in total control of their fuel spend. From a security perspective, Olusanya pointed out that the card comes with the chip and pin technology to keep customers money safe. The Priviledge Card, on the other hand, is a discount card that gives the cardholder the benefit of attractive discounts on all Fleet Masters premium product offering as well as priority service.

“The card is accepted at all PoS terminals both locally and internationally, and also enables the cardholder make withdrawals at any ATM nationwide and internationally. With our strategic alliances with Authorised Distributors of all the major vehicle brands we can assure card holders. Priority treatment, incredible discounts and qualitative delivery”, he said. Highlighting some of the benefits of the Privilege Card, Olusanya said customers can get 10 percent discount on monthly service charge on vehicle tracking. “Customers can do online transfer to their Privilege Card from their current account.